Why Is This Gold Company Throwing Money Away?

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Why Is This Gold Company Throwing Money Away?

by TheStreet.com Videos 3:46 mins

Why Is This Gold Company Throwing Money Away?

by TheStreet.com Videos 3:46 mins

AngloGold Ashanti reported that fiscal first-quarter profit for its small Cripple Creek and Victor Gold mine dropped by more than half from a year ago. Despite this dip, the company is continuing to invest valuable capital expenditure on the mine. TheStreet's Joe Deaux interviews CEO Srinivasan Venkatakrishnan and the mine's general manager Ray DuBois to find out why the company is extending the life of the mine, and what it takes to run a low-grade, low profit gold mine in the United States. TheStreet explores how AngloGold moves 70 million tons of rock to produce 250,000 ounces of gold a year.

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