Bloomberg reported that AngloGold Ashanti Ltd. (NYSE:AU) has overshot the estimated costs for its Tropicana mine by 13 percent.
As quoted in the market report:
The mine will cost A$820 million ($852 million) to A$845 million to build, the Johannesburg-based company said in a statement today. Gold production, estimated at 470,000 ounces to 490,000 ounces in the first three years, is planned to start during the quarter through December, said AngloGold, which owns 70 percent of the project. Independence Group NL (IGO) has the rest.