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Tuesday, September 7th 2004, 2:18pm

Beschäftigt sich eigentlich jemand intensiver mit der Aktie von Anglo Gold

Was viele vielleicht gar nicht wissen!

Anglo ist mittlerweile der grösste Papierhersteller in Europa,und mit seinen Aktivitäten im mineralischen Rohstoffbereich nicht mehr weit davon entfernt.Tamac Central Europa.

Bin mir nicht sicher ob das immer in eine Aktie mit einfliesst-




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Monday, September 20th 2004, 6:15pm

Das Neueste von "ANGLOGOLD" aus BUSINESS DAY" vom 20.9.2004

AngloGold Ashanti's BEE credits at 20.4%

By Justin Brown

World number two gold miner AngloGold Ashanti (ANG) currently has empowerment charter credits of 20.4%, according to its own assessment, the group said at a London investment conference last week.

AngloGold Ashanti's proposed empowerment credits come from the sale of seven of its Vaal Reefs shafts to African Rainbow Minerals (ARM) in January 1998, the disposal of some of FreeGold's Western Holdings shafts and Welkom gold plant to ARM in June 1998 and the sale of some Free State assets to ARM and Harmony Gold (HAR) joint venture in January 2002.

"A plan is in place to achieve the 26% target," AngloGold Ashanti said.

In late July, the group submitted an application for the conversion of old order mining rights to new order mining rights.

However, the extent of the group's empowerment credits have yet to be adjudicated and confirmed by the Department of Minerals and Energy, which oversees the conversion process.

Chief director at the Department of Minerals and Energy Jacinto Rocha confirmed that AngloGold Ashanti had lodged an application for the conversion of its old order mining rights to new order mining rights.

A total of about 50 applications have been received from mining companies for the conversion of their existing mining and prospecting rights to new order mining and prospecting rights, Rocha added.

On the other hand, the Department of Minerals and Energy had received 400 applications from concerns seeking totally new mining and prospecting rights, Rocha said.

South Africa's mining charter, agreed to in late 2002, requires the country's mining industry to transfer 15% of its assets to empowerment concerns by May 1, 2009 and 26% by May 1, 2014.

In terms of the charter, South African mining companies must meet a number of requirements to convert their existing mining and prospecting rights to new order rights as well as to receive totally new rights.

Outside ownership, the charter's other requirements relate to beneficiation, procurement, employment equity, human resources development, housing and living conditions, mine community and rural development, and
migrant labour.

On the issue of beneficiation, AngloGold Ashanti currently has a 25% stake in OroAfrica, South Africa's largest jewellery manufacturer.

The mining charter does not set specific targets for procurement, but the group has set itself the target of having empowerment concerns procure 25% of the value of its purchases of consumables, mine site services and capital expenditure by 2007 and 42% by 2012.

In AngloGold Ashanti's 2003 financial year, it procured 10.85% of the value of its consumable purchases from empowerment concerns.

On employment equity, the group has established an employment equity committee and an employment equity plan is in place.

At the end of December 2003, 31% of employees from C upper band and above, on the Paterson job grading scale, were designated individuals per the charter's requirements, while 24% of employees from D band and above were designated individuals.

Paterson job scale grades jobs from A to F, with A level being the lowest level job positions and F being the top management positions.

The charter requires 40% of management to be designated individuals by May 2009 and 10% of the mining workforce to be women.

About 6% of AngloGold Ashanti's workforce are women and a plan is in place to increase the number of women in all areas of operations, the group said.

On human resources development, AngloGold Ashanti said it had been providing adult education programs for 10 years and to date at least 30,000 employees have gone through various levels of adult education.

Currently, about 80% of AngloGold Ashanti's bursary holders are designated individuals and some 60% of management trainees are designated individuals.

The charter requires that mining companies establish measures for improving the standard of housing, conversion of high-density accommodation to family units and promoting home ownership for mine employees.

AngloGold Ashanti said it was currently focused on upgrading its existing accommodation at its mines and in 2003 spent 21 million rand on upgrading high-density mine accommodation.

"Employees have been offered alternative accommodation but uptake is low.
An independent survey has been launched to establish employee preferences," AngloGold Ashanti said.

The charter also requires that mining companies establish measures to improve nutrition for mine employees.

"The nutrition standards of AngloGold Ashanti's high-density accommodation are in line with standards set by the United Nations World Health Organisation and the Chamber of Mines Research Organisation," AngloGold Ashanti said.

Regarding mine community and rural development, AngloGold said it was involved in these activities through its operational work and through the AngloGold chairman's fund.

"AngloGold Ashanti has been involved for many years in projects that aim to provide safe drinking water, healthcare, sanitation and schooling within mining communities and major labour-sending areas," the group said.

Turning to migrant labour, AngloGold Ashanti said it did not discriminate against employees of foreign countries.

AngloGold Ashanti was formed in late April 2004 through merger of South Africa's AngloGold and Ghana's Ashanti Goldfields.

The group has 25 gold operations in 11 countries and annual gold output of over six million troy ounces.

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Thursday, September 30th 2004, 4:10pm

AngloGold Ashanti kaufen
Der Aktionär

Die Experten vom Anlegermagazin "Der Aktionär" empfehlen die Aktie von AngloGold Ashanti (ISIN US0351282068/ WKN 915102) zum Kauf.

Am 10. September habe die Gesellschaft die Veräußerung der Anteile an der Freda-Rebecca-Mine in Simbabwe verkündet. Mwana Africa Holdings habe die Anteile für 2,26 Mio. USD gekauft. Als Verkaufsgrund habe AngloGold angegeben, dass man den Fokus auf die lukrativsten Minen legen wolle.

Die Experten von "Der Aktionär" raten den Anlegern die AngloGold Ashanti-Aktie zu kaufen, bei einem Kursziel von 35 EUR. Des Weiteren empfehle man einen Stoppkurs bei 23 EUR zu platzieren.

Die Börse ist wie ein Paternoster. Es ist ungefährlich,
durch den Keller zu fahren.

Man muss nur die Nerven bewahren !


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  • "Warren" has been banned

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Thursday, September 30th 2004, 4:17pm

Hallo Schwabenpfeil,

den so genannten Experten vom Aktionär würde ich aus Prinzip erstmal
gar nichts glauben. Ich denke da an so tolle Empfehlungen wie ballarat
goldfields. Ein bisschen dürftig, die Gründe, warum man in Anglogold
investieren sollte.


Ich distanziere mich von einer Webseite, die Werbung für Zertifikate auf Gold und Silber macht und von Banken finanziert wird. Ich bin umgezogen zu


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Friday, October 29th 2004, 12:58pm

AngloGold Ashanti Q3 earnings fall on high costs

South Africa's AngloGold Ashanti Ltd posted an expected 16.5 percent fall in adjusted third-quarter headline earnings on Friday as strong currencies and expensive oil pushed up costs.

AngloGold Ashanti, the world's second-biggest gold producer, said adjusted headline earnings for the three months to end September fell to 106 cents from 127 cents in the previous quarter.

This was just slightly under the average forecast of six analysts polled by Reuters of 109.3 cents for headline EPS, adjusted to exclude capital, non-trading items and un-realised derivatives. Their estimates were in a range of 73 to 126 cents.

AngloGold Ashanti, majority owned by diversified miner Anglo American, said gold production rose 9.0 percent to 1.628 million ounces, partly due to the full inclusion of output from its takeover in April of Ghana's Ashanti Goldfields.

The group, which is seeking to slash expenses, said total cash costs increased 5 percent to $272 per ounce.

The group previously forecast third-quarter production of 1.6 million ounces and cash costs of $263/oz for the quarter, based on a rand/dollar exchange rate of 6.59.

"The highest oil prices in many years, strengthening currencies in most of the countries where the company operated and contractor mining cost pressures all contributed (to higher costs)," the company said in a statement.

AngloGold Ashanti has the highest quality mines of the three biggest South African producers and has diversified most outside the country to reduce exposure to the volatile rand, with half of its output coming from foreign mines.

AngloGold also said it planned to keep reducing hedge positions in its own hedge book and that inherited from Ashanti.

"We continue to be very positive about the prospects for the gold price, and will continue to reduce the level of hedging in the combined AngloGold Ashanti hedge book," Chief Executive Bobby Godsell said in the statement.

AngloGold shares, which have shed nearly a quarter of their value this year, closed on Thursday at 225.50 rand.


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Friday, October 29th 2004, 7:16pm

Hier ein etwas ausführlicherer Bericht
aus "BUSINESS DAY" vom 29.10.204.

AngloGold Ashanti to focus on African mines

South African gold miner AngloGold Ashanti (ANG) said on Friday that its operations in North and South
America produced well in the third quarter, while, in general, the South African mines put in a good performance.
However, management concern and attention remains firmly focused on its African mines - Obuasi in Ghana, Morila in Mali and Geita in Tanzania.

Releasing results for the quarter ended September, the company said that Geita and Obuasi both underperformed during the quarter.

However, measures are in place to address the issues.

At Obuasi gold production declined 12% quarter-on-quarter to 94,000oz due to insufficient developed and drilled underground reserves, which resulted in decreased mining flexibility.

New trackless mining equipment has been delivered and an operator training programme is underway to ensure that the utilisation and availability of this new equipment meets planned levels going forward, the group said.

Reorganisation of the planning and technical functions is also ongoing and, combined with the new equipment delivery, should result in underground production rates being restored to planned levels over the course of the next year.

Total cash costs, which increased to $300/oz, were higher than expected, due to the impact of fixed costs and lower production levels.

The company added that it was well aware that Obuasi had previously been capital starved and needed to be recapitalised, and that it had taken the opportunity to change the mine's strategy.

For these reasons, AngloGold Ashanti didn't believe that it would get Obuasi to the level of efficiencies in
less than four to six quarters.

While the group was not happy with production during the last quarter, there was an action plan in place to impact and raise Obuasi's game to make it sustainable into the future, the group said.

Operations at Siguiri (85% attributable) continued to reflect the effects of a government embargo implemented in May on fuel and the sale of gold.

Although fuel deliveries have recommenced and the embargo on gold sales has been lifted, an unexpected shortage of cement supplies resulted in reduced crushing and stacking operations.

Consequently, mining during the third quarter concentrated primarily on waste stripping and production decreased slightly q/q to 23,000oz, while total cash costs increased to $504/oz.

Cement supplies have now been sourced and full production on the heap leach pad is expected by early November, AngloGold added.

Construction of the carbon-in-pulp (CIP) plant continues and the plant is on track for commissioning during the first quarter of 2005.

Production for the fourth quarter, however, will nevertheless be impacted by the delay in the CIP plant construction, as well as by the cement shortage, which prevents the current plant from operating at full capacity.

In Mali, Morila's (40% attributable), production was 9% higher q/q at 37,000oz, the result of an 11% increase in recovered grade.

The benefit of the improved grade was partially offset by a 3% reduction in tonnage throughput, which resulted from a SAG mill gearbox replacement that took ten days in August, in addition to a motor change in the primary crusher in September.

Total cash costs were 4% higher q/q at $248/oz, mainly due to inflation - higher diesel prices and mining contractor costs, although improved grade partially counteracted this effect.

The plant expansion was operating at design capacity by the end of the third quarter and mining is on schedule to feed higher grade ore from Pit Three in the fourth quarter.

Significantly improved grades, higher throughput and increased gold production are expected next quarter. Negotiations regarding the productivity bonus dispute are ongoing, the group said.

At Sadiola (38% attributable), gold production decreased by 14% to 38,000oz and cash costs increased by
15% to $267/oz as a result of the grade decline and increased inflation. Both production and grade are expected to increase in the fourth quarter.

Production at Yatela (40% attributable), at 24,000oz, was 4% below that of the previous quarter due to a decrease in tonnage stacked.

Total cash costs went down by 2% to $233/oz, mainly due to decreased volumes and reduced economies of scale. A production increase is expected in the fourth quarter.

At Geita, third quarter production decreased to 48,000 ounces from 168,000 ounces in the second quarter and total cash costs increased 30% to $294/oz, due to increased mining contractor costs and a continued strengthening in the diesel price, while additional costs were incurred from a mill liner replacement and higher plant maintenance costs.

Significant improvements in grade and gold production are expected during the fourth quarter.

AngloGold Ashanti said it expected to produce around 1.7 million ounces of gold in the December quarter at a total cash cost of about $262/oz from its operations worldwide.

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Monday, May 2nd 2005, 7:17am


29.04.2005 Crescent Gold Ltd

World mining powerhouse, Anglogold, has agreed to sell selected gold assets in Western Australia to Crescent Gold Limited. Crescent announced today the acquisition would significantly expand its Laverton gold project with the new holdings to be drilled as early as possible. 320 KB

The acquisition, which increases Crescent’s Laverton project acreage fourfold, continues an aggressive exploration and development program by the Company for the project which is moving rapidly to a mining decision on its promising Sickle prospect.

Under the terms of the agreement announced today, Crescent (ASX code: "CRE") will pay up to A$4.4 million in cash and shares by December next year to take over selected assets around Laverton from Anglogold subsidiary, Anglogold Ashanti Australia Limited.

These include the Laverton exploration interests, royalties and resources to the north, east and southeast of the current producing Sunrise Dam gold mine, held by Anglogold Ashanti Australia.

Assets within the acquisition include:

• The Sickle Royalty, gold resources, tenements, data and the secondment of expert personnel

• Sickle royalties of $30/oz (Nov. 2004 BFS estimated recoverable reserves exceeded 100,000 ozs).

• Fish gold project (621,000t @ 4.1g/t for 81,000ozs, estimated by SRK 2002).

• Preliminary pit designs completed by Crescent Gold at Lord Byron and Fish indicate the pits will generate cash surpluses of over A$5m

• A number of Exploration Licences and Mining Licences which have quadrupled Crescent Gold’s land position in the Laverton area from 450km² to over 1,777 km² .

• Crescent has also secured access to Anglogold Ashanti Australia’s database for the selected tenements.

Der Vorteil der Klugheit liegt darin,
daß man sich dumm stellen kann. Das Gegenteil ist schon schwieriger.
(Kurt Tucholsky, dt. Schriftsteller, 1890-1935)


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Monday, May 9th 2005, 12:27pm

Na bravo

Der südafrikanische Goldminenbetreiber AngloGold Ashanti zahlte im Januar 8.000 USD an eine Rebellenmiliz im Kongo, um die Sicherheit ihrer Mitarbeiter und Anlagen beim Projekt Kilomoto zu gewährleisten.
Diese „Sicherheitssteuer“ wurde durch einen Bericht des UN Sicherheitsrates bekannt, in dem unter anderen AngloGold beschuldigt wurde, mit der Zahlung gegen das Waffenembargo bezüglich des instabilen östlichen Kongos verstoßen zu haben.
Unübliche Zahlungen und manchmal Bestechung werden im allgemeinen stillschweigend als Bergbau- und Explorationskosten in unsicheren Regionen akzeptiert. Jedoch ist der nun bekannt gewordene Tatbestand das erste wirkliche Fenster zu dieser Praxis. Dabei wird AngloGold nicht müde zu betonen, dass diese Zahlung einen Verstoß gegen die erklärte Unternehmensphilosophie ist. Interessant: Der Hauptaktionär von AngloGold, Anglo American, ist Unterzeichner der Partnering Against Corruption Initiative (Initiative Partnerschaft gegen Korruption).
AngloGold erklärt: Wir können Zahlungen für Bestechung/Korruption/Schutzgeld nicht gutheißen. Dies steht im Gegensatz zu unserer erklärten Unternehmenspolitik.
Was führte dann dazu, gegen die eigenen Unternehmensregeln zu verstoßen?
Das Unternehmen erklärt, dass die Miliz Front Nationaliste at Intégrationniste (FNI) auf die Zahlung bestanden hätte, nachdem AngloGold sich geweigert hätte, politische Verhandlungen in Kinshasa zu finanzieren. Das Bestehen der Miliz auf die Zahlung sei als Drohung zu werten. Dann habe das Unternehmen der Zahlung zugestimmt, um Unannehmlichkeiten zu vermeiden.
Der Bericht der UN führt aus, AngloGold habe dem Führer der FNI Floribert Ndjabu ein Haus zur Verfügung gestellt und „Steuern“ für Mitarbeiter und Fracht gezahlt, die am örtlichen Flughafen angekommen sind.
AngloGold erklärt, dass die Zahlungen transparent vorgenommen wurden. Der Distrikt-Bevollmächtigte von AngloGold wurde über die Forderung benachrichtigt und empfahl diese angemessene Reaktion. Die Regierungspartner des Unternehmens seien ebenfalls bei der Entscheidung mit einbezogen worden.
Investoren werden besorgt sein, dass AngloGold einen Präzedenzfall geschaffen und sich selbst zu einer Zielscheibe für Aktivisten gemacht hat. Dabei ist das Unternehmen bemüht, die Sache im Kongo nicht als einen Präzedenzfall für andere wirken zu lassen.
Jedoch konnte das Unternehmen nicht weitere solche Zahlungen ausschließen. Dies hänge von den fallspezifischen Umständen ab. Aber im Prinzip werde es keine solchen Zahlungen geben. AngloGold könne die Arbeiten im Kongo beenden, falls weitere Forderungen erhoben würden.
Für die geleisteten Zahlungen erhielt das Unternehmen keine Gegenleistung, wie z.B. eine Garantie. Dabei kann von der Art des „Deals“ geschlossen werden, dass weitere Forderungen unausweichlich gestellt werden. Die Schutzgelderpressung wäre dann nicht nur auf den Kongo beschränkt, sondern in allen Ländern möglich, in denen AngloGold „politischem Stress“ ausgesetzt wäre. Weiterhin bestehe die Gefahr, dass AngloGold nun einen Wettbewerb zwischen den lokalen Milizen ausgelöst hat, die nun ebenfalls durch Unternehmenserpressung Einnahmen generieren wollen.

Der Vorteil der Klugheit liegt darin,
daß man sich dumm stellen kann. Das Gegenteil ist schon schwieriger.
(Kurt Tucholsky, dt. Schriftsteller, 1890-1935)


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  • "Eldorado" has been banned

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Monday, May 9th 2005, 12:42pm

Grease 2

In Afrika geht alles nur mit schmieren, das merkst du schon bei der Einreise in Nigeria, da muss ein 20 Dollar Schein im Pass sein sonst wird er einbehalten spaeter vom Hotel und du kannst nur dort Geld zum extra kurs wechseln. Ebenso wird so mit Boarding Paesse gehandelt wenn wieder ueberbucht wird, sonst bleibt man zurueck.
One Life *** Live it !

This post has been edited 2 times, last edit by "Eldorado" (May 9th 2005, 12:46pm)


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Thursday, February 23rd 2006, 9:42am

Posted to the web on: 23 February 2006

Anglo unveils plans to reduce AngloGold stake
Charlotte Mathews
Related Links

Anglo plans to return $1,5bn to shareholders, spin off unit
Classic Business Day Transcript: Anglo American profit up 36%

Resources Editor

ANGLO American plc planned to sell part of its 51% stake in gold miner AngloGold Ashanti in the coming months through a public secondary offering, in a move that could see more cash distributed to its shareholders.

It made the announcement yesterday at the same time as it declared a 29% increase in its total dividend for the year to December to $0,90 a share and a special dividend of $0,33 a share, reflecting buoyant conditions for commodities companies. The group would buy back $1bn of its shares this year, it said.

Anglo American said it planned to remain a significant shareholder in AngloGold Ashanti in the medium term. The statement followed months of speculation on how the group would reduce its holding in AngloGold.

Last October Anglo said in its annual strategic review that it had decided to reduce its stake in AngloGold Ashanti to below 51%, sell its 79% stake in Highveld Steel & Vanadium, establish paper and packaging group Mondi as a separate business and unlock value in Tongaat-Hulett.

Anglo American CEO Tony Trahar said yesterday from London that Securities Exchange Commission rules prohibited him from adding more details to the announcement on AngloGold.

Asked by an analyst whether the cash raised from the sale of part of Anglo’s stake would be distributed to shareholders, he said the transaction had not yet been processed, but “it is an area where we would look to return cash to shareholders”.

An analyst said that in view of the soaring share prices of companies such as Placer Dome and Lonmin, it did not appear consistent with Anglo American’s stated objective of realising value for shareholders to be selling out of AngloGold Ashanti at this point in the commodities cycle.

Trahar said the company was following a long-term strategy. In the past, shareholders had said it was inconsistent to have a differently rated gold company within a diversified mining portfolio, and Anglo could capture some of that value by reducing its stake.

It was also difficult for AngloGold to issue shares to make acquisitions when it was constrained by Anglo American’s desire to maintain a 51% stake. By lifting this restriction, Anglo American could end up with a smaller stake in a larger company.

“Yes, fundamentals for gold are good but there have been long periods when fundamentals for gold have been bad,” he said.

Mondi would be listed on the London Stock Exchange this year or next year, the group said.

The listing could take many forms, including an initial public offering, and if so Anglo would consider floating 20%-25% of Mondi, Trahar said.

The group did not require cash, but Mondi was looking at a $1,5bn expansion project in Russia.

Asked why Mondi would be listed in London rather than Johannesburg, Trahar said London was an attractive market for a listing, it was the site of Anglo’s head office and Anglo American was listed there.

There were synergies and technical attractions in listing Mondi in London. It was a premier stock exchange in Europe and Mondi was a European company, although with a strong South African contribution.

Management would have to study the implications of Mondi’s London listing for Anglo’s South African shareholders, in relation to foreign-exchange restrictions, in the next few months.

A number of bids had been received for Highveld Steel, and short-listed buyers were currently completing their due-diligence investigations, he said.

Anglo hoped to make progress in the months ahead.

Earlier this week Tongaat-Hulett said it would unbundle and list Hulett Aluminium separately within a year. Tongaat holds a 50% stake in Hulamin, and Anglo American owns 51% of Tongaat.

In the group’s industrial minerals business, Tarmac, operations in Germany, Hong Kong and UK paving would be sold. Tarmac had also made three acquisitions in its aggregates business.

Trahar said Anglo had a long-term strategy for Tarmac, as it fitted the definition of an extractive mining business and generated strong cash flows.


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Thursday, February 23rd 2006, 9:45am

Posted to the web on: 23 February 2006

Anglo plans to return $1,5bn to shareholders, spin off unit

Antony Sguazzin
Related Links

The Bottom Line: Trahar takes a careful line on Anglo acquisitions


ANGLO American, the world’s second-biggest mining company, plans to return $1,5bn to shareholders and spin off a paper unit after its 32% gain in half-year profit failed to match growth at larger rival BHP Billiton.

Net income for the six months to December climbed to $1,68bn from $1,28bn a year earlier, London-based Anglo said yesterday.

The payback to shareholders includes a $500m special dividend.

CEO Tony Trahar is seeking acquisitions to transform Anglo into a group focused on raw materials that are building blocks for the booming economies of China and India, and away from gold and platinum.

He is trying to replicate growth at rivals BHP and Rio Tinto Group. Anglo took control of SA’s iron ore mines in 2003 and opened a zinc deposit in Namibia last year.

“Growth in precious metals prices has lagged that in base metals,” said Imtiaz Ahmed, deputy chief investment officer at Johannesburg-based Investment Solutions Holdings. The reorganisation “may very well be too late”.

Last week BHP posted a 48% rise in half-yearly net income to $4,36bn, while . Rio said on February 2 that its second-half profit jumped 78% to $3bn. Anglo said it would spend $2bn on dividends and share buybacks, while Rio pledged twice that amount.

Anglo’s full-year net income rose 0,6% to $3,52bn, or $2,36 a share, from $3,5bn, or $2,35, a year earlier, it said yesterday. The capital return to shareholders includes a $1bn share buyback. The total return is more than the $1bn Anglo said it planned to return on October 26.

Numis Securities analyst John Meyer said the payout was “not really keeping pace with the strong returns coming out of Rio Tinto and other companies”.

Annual profit before once-off items and goodwill amortisation rose 38% to $2,58 a share, Anglo said yesterday. That compares with the $2,54 median estimate of six analysts surveyed by Bloomberg News. Finance director Rene Medori said the mining group planned to cut costs as much as $500m this year, following $730m of reductions last year.

Anglo said it would sell part of its stake in AngloGold Ashanti in coming months. Trahar said Anglo might return more money to shareholders “in due course”. At the same time, the group was spending $6,7bn on expansion, and might spend $10bn-$15bn more, he said. Anglo has debt of $5bn. China’s economy grew 9,9% last year, overtaking the UK to become the world’s fourth-biggest.

Trahar in 2000 lost out in the bidding for Australian iron ore producer North. Last year Rio bought a stake in Australia’s Hope Downs iron-ore project after Anglo’s Kumba Resources unit was forced to sell its interest following a legal battle.

Anglo has made some progress since an October 26 announcement of its change in strategy. It has received bids for its 79% stake in Highveld Steel & Vanadium, and on February 20 Tongaat Hulett, controlled by Anglo, said it would spin off its aluminum-rolling business.

Trahar may struggle to find metals acquisitions as company values surge amid rising prices. Copper prices have risen 52% in a year, while aluminum went up 23% and zinc 56%. Anglo’s second-half profit was calculated by subtracting first-half earnings from full-year figures.

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Tuesday, July 18th 2006, 10:02am

SA-Goldminen - wann kommen die Kurse in Gang?

Posted to the web on: 17 July 2006

SA gold miners look further afield for prospects even as price hits new highs
Charlotte Mathews

Resources Editor

ANGLOGOLD Ashanti’s announcement last week that a higher gold price would enable it to consider a R3,4bn expansion at mines in SA is typical of South African gold miners’ capital projects in the current boom.

Apart from the Burnstone Gold Project, being developed by an offshore-listed company, no substantial new South African mines have been given the green light in the past two years, despite the strong gold price. Most recently approved projects are extensions to existing operations.

This is mainly because the Wits Basin has been well explored for minerals in the past 100 years, and shallower, high-grade deposits have been exhausted.

RMB Asset Management analyst Richard Simpson said it was easier for gold producers to look outside SA for shallower deposits that were quicker and less expensive to develop than a mine 4km deep or deeper in the Wits Basin. Developing a deep-level mine in SA could cost R6bn-R10bn and take 12 years to bring into production. It was also questionable whether shareholders would have an appetite for that level of investment.

Although the gold price of R145000-R148000/kg had rendered more mine extensions economically viable, Simpson doubted whether it would reverse the long-term trend of declining gold production in SA, which was due mainly to the depletion of resources.

Since 2003, according to Chamber of Mines figures, SA’s first-quarter gold production declined from 2,6-million ounces to 1,8-million ounces.

There are only three major “new” mines in SA, approved many years ago, and still building up to full production: the Western Areas/Barrick Gold South Deep mine; AngloGold’s Moab Khutsong mine; and Harmony’s Target mine, which is an extension below the old Loraine mine.

The newest gold mine is the Burnstone Gold Project near Balfour being developed by Canadian-listed Great Basin Gold, which recently recruited Ferdi Dippenaar from Harmony as its CEO. It envisages a mine producing 214000oz of gold a year for 14 years, and costing about R1bn to develop. Great Basin is at the stage of applying for the necessary mining permits and undertaking preproduction activities.

AngloGold, Gold Fields, Harmony and DRDGold have all announced recently that they are close to making decisions on mine extensions. Mine extensions make sense if they offer relatively high grades of gold, to offset the higher operating costs of deep mines, and if they extend the life of existing mines.

AngloGold said it would go ahead with the Zaaiplaats project at Moab Khutsong to extend the life of the mine by five to six years, as well as deepening its Mponeng mine to 4km from 3,5km to extend the life of the mine by six or seven years. The group is also close to shaft sinking for the deepening of its Tau Tona mine, a project approved two years ago.

Gold Fields said in May it would soon make a decision on a $150m extension to its Kloof mine and a $300m extension at Driefontein. Harmony is expected to make a decision in the next year on whether to develop a new mine at Target North at a cost of R5bn-R7bn, but the mine would come into production only in about 14 years’ time.

DRDGold also announced in March that it would revive the Argonaut project, a southern down-dip extension of the Central Witwatersrand Goldfield, between the group’s East Rand Proprietary Mine in the east and Durban Roodepoort Deep mine in the west.

The area was previously mined to a depth of between 1,8km and 2,5km, and the Argonaut project would mine to as deep as 5km to reach gold with a grading of 8,5g/ton.


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Saturday, September 16th 2006, 9:03am

Metal Stocks Get Heavy Toward Value - [at RealMoney by]1


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Tuesday, October 3rd 2006, 8:32am

"I could have suggested another stock, probably Anglogold Ashanti Ltd."

Picking stocks can be child's play
Commentary: How an 11-year-old builds her portfolio

By Peter Brimelow, MarketWatch
Last Update: 12:03 AM ET Oct 3, 2006

NEW YORK (MarketWatch) -- Have I got a hot stock for you. Or something.


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Tuesday, October 3rd 2006, 1:23pm


Original von GSP-Komet
"I could have suggested another stock, probably Anglogold Ashanti Ltd."

Picking stocks can be child's play
Commentary: How an 11-year-old builds her portfolio

By Peter Brimelow, MarketWatch
Last Update: 12:03 AM ET Oct 3, 2006

NEW YORK (MarketWatch) -- Have I got a hot stock for you. Or something.

Ja ich habe Anglogold intraday fur 29.55 gekauft 10 tagen zuruck…ETER%20BRIMELOW