Q1 output to be lower than previous forecast: AngloGold
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Q1 output to be lower than previous forecast: AngloGold UPDATED 02 Apr 2009 | 10:19  
Q1 output to be lower than previous forecast: AngloGold

JOHANNESBURG (Reuters) - AngloGold Ashanti Ltd lowered its first-quarter output guidance owing to a slower start-up in mines after the Christmas break and safety related stoppages, it said on Thursday.

The company said it expects production in the quarter to end March to be around 1.1 million ounces, 2.5 percent below the previous guidance of 1.13 million ounces.

AngloGold said all the issues at the mines have now been resolved, adding that all other mines either achieved or exceeded their targets set for the quarter.

The guidance for the full year of production between 4.9 million to 5.0 million ounces at a total cash cost of $435 to $450 an ounce based on a rand-dollar conversion of 9.75 rand and a fuel price of $50 per barrel remained unchanged.

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