Gold producers Bullion to bolster quarterly earnings
South Africa’s biggest gold mining houses, AngloGold Ashanti, Gold Fields and Harmony Gold, were expected to post significantly higher earnings in the September quarter on a rising gold price, a poll of six banks and brokerages showed on Friday. Bullion’s record run is filling the mining houses’ coffers, with the average gold price up about 13 percent to just over $1 700 (R13 060) an ounce during the quarter to the end of September compared with the previous one. Gold Fields has said it expected to post a 3 percent rise in third-quarter gold production as it overcame a strike that halted output for five days in July. The company said attributable group output for the September quarter rose to about 900 000 gold equivalent ounces, from 872 000 ounces in the previous quarter. It was the only one of the three gold majors to post guidance for the quarter ahead of results.