((Automated translation by Reuters, please see disclaimer https://bit.ly/rtrsauto))
AngloGold Ashanti AU.N returned to profit in the third quarter on higher gold prices, after suffering a loss in the corresponding period due to restructuring costs and other one-off factors, said the minor Thursday.
The gold mining company reported a net profit of $236 million in the quarter ending September 30, compared with a net loss of $194 million in the same period last year.
AngloGold's revenue in the September 2023 quarter was affected by costs associated with the transfer of its primary listing from Johannesburg to New York and the relocation of its headquarters from South Africa to London.
There were also impairments and losses on derecognition of assets and insurance claims in the prior period that have not recurred in the current period, the company said.
The increase in profits occurred despite a 3% drop in production and was partially offset by higher operating costs, losses on unhedged derivatives, maintenance costs and higher maintenance costs, lower profits from unmanaged associates and joint ventures and higher taxes.
AngloGold said it expected to complete the acquisition of Centamin CEY.L, a smaller Egypt-focused rival, this month, after the target company's shareholders approved the 2,000-year deal. 5 billion dollars on October 28.
The deal proposed by AngloGold and its rival Gold Fields
GFIJ.J to combine their neighboring Tarkwa and Iduapriem mines in Ghana and create Africa's largest gold mine, is still awaiting regulatory approvals from the West African country's government.
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