[dehai-news] (Reuters) AngloGold says has 100 "prospects" in global pipeline

From: Biniam Tekle <biniamt_at_dehai.org_at_dehai.org>
Date: Wed, 23 Nov 2011 08:21:38 -0500

http://af.reuters.com/article/metalsNews/idAFL5E7MM0T820111122AngloGold says has 100 "prospects" in global pipeline Tue Nov 22, 2011 8:56am GMT

JOHANNESBURG Nov 22 (Reuters) - AngloGold Ashanti , the world's third largest gold producer, said on Tuesday it had 100 prospects in its global project pipeline with exciting ones in Egypt, Eritrea and Guinea.

In a presentation posted on its website for the company's "Investor Day," AngloGold also said its 2015 targets included a 20 percent rise in productivity and a 20 percent cut in real unit costs.

The group also maintained its output target of 5.5 million ounces over the course of the next four years. Its 2011 target is currently around 4.33 million ounces.

Some of its future growth will come from its Australasia operations, specifically its Tropicana project in which it has a 70 percent tsake. It is seen coming on line in 2013 and producing close to 400,000 ounces by 2014, according to the presentation.

AngloGold reiterated that in its home base of South Africa it would maintain a stable production base of around 1.7 million ounces and would look at growing annual uranium production to 2 million pounds.

On the exploration front it reported "exceptional progress" in Egypt and Eritrea -- a region the group has been keen on -- and said it was going ahead with work on blocks 2 and 3 in Guinea. (Reporting by Ed Stoddard; Editing by Marius Bosch)

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