AngloGold, which has operations in Australia, Brazil and Tanzania, said its headline earnings per share for the six months ended June rose 234% to 97 cents against 29 cents a year earlier, despite output disruptions caused by COVID-19.
Dushnisky, who steps down in September, said the company would focus on cutting costs and capital management as it seeks to widen margins and increase reserves through exploration and expansions. “If gold prices stay at these levels, and we continue to manage our margins well and we continue to generate increasing free cash flow, we will see increased dividends,” Dushnisky said in an interview.
The bullion miner, which is completing the sale of its last South African assets, said it had lost around 85,000 ounces of output due to COVID-19, with 63,000 ounces of that from South Africa.
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