Anglogold Ashanti Posts 1st Half Loss of $176 Million

By Alexandra Wexler Features Dow Jones Newswires

AngloGold Ashanti Ltd. (ANG.JO), the world's No. 3 gold producer, reported a first-half loss on Monday, due to impairments at some South African mines, higher operating costs and a provision for the settlement of a class action lawsuit.

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AngloGold reported a loss of $176 million in the six months to June 30, from a profit of $52 million during the same period in 2016, in line with the company's previously announced guidance.

The company said its headline loss, which strips out certain exceptional and one-off items, came in at 22 cents a share, from a profit of 23 cents a share a year earlier. Revenue for the first six months of the year rose 4.3% to $2.13 billion.

The South Africa-based mining company's shares are down 12% year-to-date and 48% over the last 12 months on the Johannesburg Stock Exchange.

-- Write to Alexandra Wexler at alexandra.wexler@wsj.com

(END) Dow Jones Newswires

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August 21, 2017 01:44 ET (05:44 GMT)