The Global Resource For Connecting Buyers and Sellers

AngloGold cuts debt 30%, generated $160m free cash

Gold-mining company AngloGold Ashanti said on Monday that it had cut net debt by a third after margins increased despite lower gold prices, allowing the company to generate free cash flow of $160-million in the fourth quarter. The company has delivered on a range of self-help measures to internally generate funds and avoid going to the market to raise new equity capital. The sale of the Cripple Creek & Victor mine in the US for $820-million plus a royalty has enabled the company to buy back a portion of the company’s most expensive debt.