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AngloGold starts process to shut down 2 mines
AngloGold Ashanti announced on June 28 that it was beginning a consultation process with employees in terms of section 189 and 189A of South Africa's Labour Relations Act that would lead to placing its Kopanang gold mine and the Savuka section of its TauTona gold mine on care and maintenance. In the first quarter of 2017, Kopanang produced gold at all-in sustaining costs of $1,737/ounce (oz), while Savuka produced gold at all-in sustaining costs of $2,399/oz. The gold price averaged $1,216/oz over that period. Both mines also sustained significant operating losses through 2016.
AngloGold starts process to shut down 2 mines
AngloGold Ashanti announced on June 28 that it was beginning a consultation process with employees in terms of section 189 and 189A of South Africa's Labour Relations Act that would lead to placing its Kopanang gold mine and the Savuka section of its TauTona gold mine on care and maintenance. In the first quarter of 2017, Kopanang produced gold at all-in sustaining costs of $1,737/ounce (oz), while Savuka produced gold at all-in sustaining costs of $2,399/oz. The gold price averaged $1,216/oz over that period. Both mines also sustained significant operating losses through 2016.
AngloGold starts process to shut down 2 mines
2017
Aufsatz (Zeitschrift)
Englisch
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