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Article: AngloGold, Newmont Expanding - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- October 7, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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AngloGold, Newmont Expanding - Analyst Blog
AngloGold Ashanti Ltd.
(
AU
), the world’s third largest gold producer, plans to expand output through exploration. The company aims to produce up to 6 million ounces annually, up from 4.98 million ounces in 2008, largely by improving its mines and expanding through exploration.
AngloGold expects the dollar price of gold to rise. The company has forecasted gold prices of $950 to $1,100 per ounce in 2010. It expects gold prices to rise beyond $1,100 if the downtrend in the US economy continues and investment demand for gold increases further. Although electricity costs and new wage settlements have put pressure on the ...