AngloGold Ashanti to Move Primary Listing to US; Backs 2023 Guidance
May 12 2023 - 2:01AM
Dow Jones News
By Joe Hoppe
AngloGold Ashanti said Friday that it intends to move its
primary listing to New York, and backed its full-year guidance.
The South African gold miner said it has undertaken a
comprehensive review of its domicile and listing structure and
concluded the most appropriate structure is a U.K. corporate
domicile, with a U.S. primary listing and second listings in South
Africa and Ghana. It also expects to delist from the Australian
stock exchange on June 27.
"This is a logical progression for AngloGold Ashanti, which is
well aligned with the evolution of the business in recent years and
will assist in unlocking value in a way that's minimally disruptive
for our stakeholders," Chair Maria Ramos said.
The mining company also said first-quarter gold production was
584,000 ounces. Total cash costs rose to $1,204 an ounce from
$1,041, mainly driven by continued inflation and input price
increases, and adjusted earnings before interest, taxes,
depreciation and amortization fell to $320 million from $438
million a year prior it said.
AngloGold reaffirmed full-year guidance of 2.45 million-2.61
million ounces, with all-in sustaining cost guidance of
$1,405-$1,450 an ounce. It said production and costs are expected
to improve over the second half of the year.
Write to Joe Hoppe at joseph.hoppe@wsj.com
(END) Dow Jones Newswires
May 12, 2023 01:46 ET (05:46 GMT)
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