AngloGold Ashanti Sees Costs Continue to Rise in 2Q; Shares Look Overvalued
AngloGold Ashanti’s costs continued to rise into the second quarter of 2017, as a weakening dollar has led to higher effective mining costs for the global miner. Compared with the first half of 2016, AngloGold kept production flat at 1.7 million ounces, while cash costs rose 13% to $796 per ounce and all-in sustaining costs rose 18% to $1,071 per ounce. The sharp rise in costs is particularly troubling, as we expect continued U.S. Federal Reserve hikes will drive gold prices lower in the near-te...
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