AngloGold Cuts Output Goal as It Reinforces Brazil Waste Dam
- Miner is strengthening tailings facility at Calcinados
- AngloGold’s profit slumped 52% to $297 million last year
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AngloGold Ashanti Ltd. lowered this year’s production outlook after suspending gold processing at a plant in Brazil while work is undertaken to strengthen a tailings facility.
The Johannesburg-based miner expects to produce 2.45 million ounces to 2.6 million ounces of gold this year, compared to last year’s output of 2.7 million it said in a statement Wednesday. AngloGold shares fell 3.9% as of 10:25 a.m. local time.