"It was a difficult call for the board to make. The debate did last long as the prospects are looking promising as we go into 2014. However, the gold price was volatile," chief executive
The production increase was a reflection of the recovery from the violent strike that halted operations in the local mining sector in
Output in the 12 months to December last year increased by 4 percent to 4.105 million ounces from a year earlier, the first increase in nine years and slightly above the top end of its guidance range. All-in sustaining costs for the year declined to
By the fourth quarter, all-in sustaining costs had fallen sharply to
A highlight in the year under review was the progress in its technology project, which was expected to mine 1 million ounces in the next three years.
At Obuasi mine in
Kibali mine in the
Venkatakrishnan was confident about the group's black economic empowerment credentials and said the firm was compliant with requirements of the
"We have had open discussions with the department and the Chamber of Mines."
Adjusted headline earnings were
Fourth-quarter adjusted headline earnings rose 49 percent to
The shares rose 1.19 percent to close at R192.19 yesterday.
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