AngloGold to invest $1.75 bln in Brazil by 2016

BELO HORIZONTE (MarketWatch) -- South African gold producer AngloGold Ashanti Ltd. (AU, ANG.JO) will invest $1.75 billion in Brazil to raise gold output to 700,000 ounces per year by 2016, the company's global chief executive officer, Mark Cutifani, said Wednesday. 

The company expects to produce 420,000 ounces of gold in Brazil this year, up from 400,000 ounces in 2010, and sees that number rising to 500,000 ounces in 2012, Cutifani told reporters at a mining event in Brazil. 

The company is currently starting operations at a new $220 million gold mining project at Corrego do Sitio in Minas Gerais state, Cutifani said.  Read More

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