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AngloGold Ashanti CEO Sees Inflation Pressure Easing Next Year

AngloGold Ashanti’s CEO expects inflationary pressures to ease next year, he said on Friday after the miner joined rivals in reporting a hit to half-year profit and forecast that costs would be at the top end of guidance this year.
Lower commodities prices in 2023 are likely to bring the company’s costs inflation down to a single-digit percentage from a peak of about 13 percent, Chief Executive Alberto Calderon told Reuters.
Calderon estimated that 40 percent of the cost increase in the first half of this year was attributable to diesel prices.
The South Africa-based gold miner reported first-half production up 3 percent year on year at 1.233 million ounces and said production would increase in the second half to meet 2022 guidance of between 2.55 and 2.8 million ounces….

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