AngloGold Ashanti moots higher dividend as gold price boosts earnings

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.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Gold Fields says earnings set to doubleGold Fields Ltd. said it expected earnings to roughly double in the first half of 2020 on the back of a surge in the price of gold during the second quarter.
Source: eNCA - 🏆 49. / 51 Read more »

Covid-19 drives JSE’s interim earnings higher as record volumes tradedThe JSE sees earnings rise for the first six months of 2020 on the back of increased volatility amid the coronavirus pandemic and its effect on financial assets
Source: BDliveSA - 🏆 12. / 63 Read more »

MARKET WRAP: JSE gains for a third day as gold stocks rally on record metal priceGlobal market sentiment has been supported by ongoing discussions in the US Congress regrading a Covid-19 relief package
Source: BDliveSA - 🏆 12. / 63 Read more »