Fri, Feb 27, 2015
A A A
Welcome preal121
RSS

Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold price plunge saddles miners with billions worth of writedowns

Posted on 22 July 2013

The fall in the gold price is now being recognised in gold mining companies’ balance sheets – and it is hurting. AngloGold Ashanti, the world’s third biggest gold producer, last Monday revealed itself as the latest to take a hit, predicting a writedown in the range of $2.2bn (£1.5bn) to $2.6bn (£1.7bn) on its mining assets, including its stockpiles of ore. The figure will be revealed in its financial results for the second quarter.
The company also said it would produce 4m to 4.1m ounces of gold this year, rather than the 4.1m to 4.4m ounces previously planned, in response to the fall in its product’s price………………………………………..Full Article: Source


 Article link

This post was written by:

VRS - who has written 39413 posts on Opalesque Commodities Briefing.


Contact the author

Comments are closed.

banner
banner
February 2015
S M T W T F S
« Jan    
1234567
891011121314
15161718192021
22232425262728