AngloGold Ashanti to Write Down Between $2.2B – $2.6B in Assets on Gold Price Drop

Mineweb reported that AngloGold Ashanti (NYSE:AU) has announced that they are planning to write down between $2.2b – $2.6b in assets, blaming the sharp drop in gold prices.

As quoted in the Mineweb report:

The group goes on to add, “Over the remainder of 2013 all business plans and associated reserves and resources will be revised and optimised to reflect the lower gold price assumptions, associated mitigation measures and management initiatives to improve margins and cash flow.

To view the whole Mineweb report, click here.