AngloGold Ashanti may reduce gold hedges


By Jon A. Nones
Resource Investor
Thursday, November 1, 2007

ST. LOUIS -- The world's third-biggest gold producer, AngloGold Ashanti, posted flat third-quarter headline earnings per share on Thursday but indicated willingness to buy out its gold hedge contracts prior to expiration.

In doing so, the company would join the ranks of No. 1 Barrick and No. 2 Newmont with hedge closures and absolute confidence in higher gold prices moving forward.

"We would like more exposure to a rising gold price," said AngloGold's new CEO, Mark Cutifani, in the company's third-quarter presentation. "We're positive on the gold price." ...


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