Bullion miner AngloGold Ashanti has placed the Córrego do Sítio (CDS) mine, in Brazil, on care-and-maintenance, following a sustained period of poor production and costs that are well above the gold price. CDS is AngloGold’s smallest operation and produced 30 000 oz in the first six months of the year at a total cash cost of $2 278/oz and an all-in sustaining cost (AISC) of $3 031/oz.
Bullion miner AngloGold Ashanti has placed the Córrego do Sítio mine, in Brazil, on care and maintenance, following a sustained period of poor production and costs that are well above the gold price.
The mine produced 69 000 oz last year, accounting for only 2.5% of the group’s total output of 2.74-million ounces. The group has fully written down the value of CDS and says it will disclose the impact of the cessation of production in its third-quarter market update.as COO, with effect from October 1. He will replaceJordinson joined AngloGold in 2012 as general manager of Sunrise Dam, in Australia, from Resolute Mining’s Syama mine, in Mali.
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