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State revenue from gold mining companies in Mali rose 13% in 2020 year-on-year to 457.5 billion CFA francs , lifted by higher global prices for the metal during the pandemic, government data.
Provided by Dow Jones By Jaime Llinares Taboada AngloGold Ashanti Ltd. on Monday reported an improved profit for the first quarter of the year, despite lower gold production and sales. The Johannesburg-based mining company made a net profit of $203 million in the three months to March 31, up 51% from $134 million a year earlier. The improvement was driven by stronger gold prices, which rose 13% to $1,788 an ounce. However, gold production and sales decreased 7% each, to 588,000 ounces and 608,000 ounces, respectively. All-in sustaining costs increased 26% to $1,287 an ounce, the company said. In the first quarter of 2021, total cash costs increased mainly as a result of lower grades and the drawing down on ore stockpiles at some of the operations while waste stripping and underground development progressed, as well as inflationary pressures recorded across most of the portfolio, AngloGold Ashanti said.
AngloGold: Q1 Earnings Snapshot
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JOHANNESBURG (AP) AngloGold Ashanti Ltd. (AU) on Monday reported net income of $203 million in its first quarter.
On a per-share basis, the Johannesburg-based company said it had profit of 48 cents.
The gold miner posted revenue of $979 million in the period.
AngloGold shares have risen slightly more than 1% since the beginning of the year. The stock has declined 12% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AU at https://www.zacks.com/ap/AU Top Picks In Shopping
East Africa Mining Market Report 2020 Featuring Barrick Gold, AngloGold Ashanti, Tirupati Graphite and EcoGraf
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This report focuses on Mining in East Africa and includes descriptions of mineral resources, exploration, production, economic contribution and trade across numerous countries.
There are profiles of 44 companies including Canadian company Barrick Gold, which owns a majority interest in three gold mines in Tanzania, and South African AngloGold Ashanti, which owns the Geita mine in Tanzania.
Other profiles include Tirupati Graphite, which reached commercial production at one mine and is building and planning numerous processing plants in Madagascar, and EcoGraf, which has graphite projects in Tanzania.