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AngloGold Q2 output beats forecast, trims gold hedge
July 14, 2008 / 12:29 PM / 9 years ago

AngloGold Q2 output beats forecast, trims gold hedge

JOHANNESBURG, July 14 (Reuters) - South Africa’s AngloGold Ashanti (ANGJ.J) said on Monday it expects its second quarter production to be 3 percent above its previous guidance at 1.25 million ounces, and that it had cut its gold hedge position.

The world’s third biggest gold producer said it had cut its gold hedge by 4.4 million ounces or 39 percent in the first half of this year, and would trim the hedgebook further to around 46 percent this year.

AngloGold said second quarter gold production had been achieved at a total cash cost of $343 per ounce or by 6.5 percent better than previously forecast. (Reporting by James Macharia)

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