AngloGold to restructure South African mines to ensure viability

Gold mining company AngloGold Ashanti has begun consulting with employees on placing the 59-year-old Savuka mine and the 36-year-old Kopanang mine on care and maintenance, and evaluating the integration of the 60-year-old TauTona mine into the neighbouring Mponeng mine, which is being set up as a new, lower-cost operation. On a gold price that averaged $1 216/oz, TauTona and Kopanang recorded all-in first-quarter sustaining costs of $1 737/oz and $2 399/oz after also being lossmaking in 2016.