AngloGold Gains 6% on Strong Q3

MINING.com reported that South African gold powerhouse AngloGold Ashanti (NYSE:AU) returned to profit for the first quarter of the last four. Production at the world’s third largest bullion producer was up 12 percent from the previous quarter, at 1.04 million ounces.

As quoted in the market news:

The Johannesburg-based company said Wednesday profit attributable to equity shareholders totalled $1 million in the quarter ended Sept. 30, down from $168 million in the same period last year.

The figure is quite an improvement from the loss reported in the second quarter of the year, when AngloGold wrote down almost $2.2 billion worth of its assets due to weak gold prices.

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