* 2012 production target remains unchanged
* Company declares quarterly dividend of about 12 U.S. cts a
share
(Adds background, details)
JOHANNESBURG Aug 6 (Reuters) – World no. 3 gold producer
Anglo Gold Ashanti reported a 41 percent fall in second
quarter earnings on Monday, as expected, despite a surprising
rise in output.
The South Africa-based miner with global operations also
declared a dividend of about 12 U.S. cents a share, in line with
a Reuters’ poll of 5 analysts, and stuck to its 2012 production
target of between 4.3 and 4.4 million ounces.
The company had already flagged that it expected a roughly
40 percent earnings drop in the three months to the end of June
because of a lower dollar gold price and a one-off boost to its
first quarter profits from a deferred tax credit.
Adjusted headline earnings came in at 65 U.S. cents a share
compared to 111 U.S. cents in the previous quarter.
The company said second quarter gold production of “1.07
million ounces beats guidance on strong performances from
continental Africa and the Americas.”
The company said total cash costs were up slightly at $801
an ounce but was also better than the company had flagged
because of the improved production and weaker local currencies.
This benefits gold miners who earn dollars with a cost base in
domestic currencies.
Cash costs in the next quarter are seen rising to between
$835 and $865 an ounce, the company said.
(Reporting by Ed Stoddard; Editing by Ed Cropley)
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