AngloGold Ashanti CEO sees inflation pressure easing next year.
Calderon estimated that 40% of the cost increase in the first half of this year was attributable to diesel prices.
But headline earnings per share, the main profit measure in South Africa, came in at 71 U.S. cents, down 18% from a year earlier. Total cash costs were up 6% at $1,068 an ounce as inflation accelerated, but Calderon said he was happy the increase had been “limited”. Newmont Corp, the world’s biggest gold miner, last week raised its annual costs forecast and warned that inflationary pressures would persist into next year, sending its shares down 12%.
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