Mining Journal, March 23rd, 2001
A record annual gold production of 1.74 Moz was revealed earlier this month by Ashanti Goldfields, with cash operating costs falling to US$187/oz in 2000, the lowest for six years. In its report for the year to December 31, 2000, Ashanti noted that revenue was little changed at US$582.2 million and that operating cash flow had fallen only US$7.3 million to US$203.9 million despite the lacklustre gold price in 2000. After the hedging liquidity crisis of end-1999 (MJ, January 14, 2000, p.17), however, it is the company's debt figures that are of most immediate importance. The group had managed ...
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