Concord stated individually final week that manufacturing exceeded steering final 12 months, rising by 6% to 1.56 million ounces, from mines in South Africa and Papua New Guinea. The worth of the dear metallic has risen greater than 20% for the reason that begin of 2024.
Earlier this 12 months, the corporate stated it’s going to lengthen the lifetime of its Mponeng asset east of Johannesburg. The venture – the world’s deepest mine – has develop into a star performer for Concord because it was acquired from AngloGold Ashanti Ltd. in 2020.
Concord stated revenue earlier than some one-time objects — generally known as headline earnings — elevated by as a lot as 131.6% to 18.52 rand per share. The agency’s shares have risen greater than 40% for the reason that starting of the 12 months.
(By William Clowes)