{"id":9794,"date":"2012-04-10T16:03:55","date_gmt":"2012-04-10T14:03:55","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-1-safety-stoppages-hit-anglogold-ashanti-q1-output\/"},"modified":"2012-04-10T16:03:55","modified_gmt":"2012-04-10T14:03:55","slug":"update-1-safety-stoppages-hit-anglogold-ashanti-q1-output","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-safety-stoppages-hit-anglogold-ashanti-q1-output\/","title":{"rendered":"UPDATE 1-Safety stoppages hit AngloGold Ashanti Q1 output"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>(Adds detail and background)<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, April 10<\/span> (Reuters) &#8211; South African safety<br \/>\nstoppages cost top gold producer AngloGold Ashanti<br \/>\n76,000 ounces of lost production in the first three months of<br \/>\n2012, more than for the whole of last year, the its trading<br \/>\nstatement revealed on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The lost production in the three months to end-March is<br \/>\nworth $125 million at current spot prices and exceeded the<br \/>\n73,000 ounces of output lost in 2011.<\/p>\n<p><span><\/span><\/p>\n<p>A safety drive across the gold and platinum industries in<br \/>\nSouth Africa has cut output and has led to an outcry from the<br \/>\nindustry, which has warned that halts to operations that are not<br \/>\nconnected to fatalities make the working environment more risky.<\/p>\n<p><span><\/span><\/p>\n<p>AngloGold Ashanti Chief Executive Mark Cutifani said in<br \/>\nFebruary, &#8220;The concern we have in a deep underground gold mine<br \/>\n(is that) when you stand an operation for five days, you are<br \/>\ncreating new safety hazards that we believe in certain cases are<br \/>\nwell in excess of the hazard that you are trying to correct.&#8221;<\/p>\n<p><span><\/span><\/p>\n<p>Africa&#8217;s largest gold producer, which gets 40 percent of its<br \/>\nglobal output from South Africa, said first-quarter 2012 gold<br \/>\nproduction was around 980,000 ounces, down from fourth-quarter<br \/>\nproduction of 1.114 million ounces.<\/p>\n<p><span><\/span><\/p>\n<p>It warned that the lower production was &#8220;likely to have a<br \/>\nconsequential impact&#8221; on cash costs, which were at $762\/oz in<br \/>\nthe three months to end-December 2011.<\/p>\n<p><span><\/span><\/p>\n<p>Spot gold was $1,645.00 an ounce in early afternoon<br \/>\ntrade on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>AngloGold&#8217;s share price was down 1 percent, underperforming<br \/>\na slight gain on Johannesburg&#8217;s benchmark index.\t<\/p>\n<p> (Reporting by Sherilee Lakmidas, editing by Jane Baird)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Adds detail and background) JOHANNESBURG, April 10 (Reuters) &#8211; South African safety stoppages cost top gold producer AngloGold Ashanti 76,000 ounces of lost production in the first three months of 2012, more than for the whole of last year, the its trading statement revealed on Tuesday. The lost production in the three months to end-March [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9794","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9794","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9794"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9794\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9794"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9794"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9794"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}