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Gold/Mining/Energy : Canadian Warrants Only -- Ignore unavailable to you. Want to Upgrade?

To: calgarylady who wrote (2466)	2/7/2008 1:17:38 PM
From: koan	Respond to of 23089

AngloGold: S Africa Power Problems May Cost 400,000 Oz Gold2-7-08 4:16 AM EST \| E-mail Article \| Print ArticleLONDON -(Dow Jones)- AngloGold Chief Executive Mark Cutifani Thursday said blackouts and power reductions in South Africa were the most urgent issue facing his company, and may cost 400,000 troy ounces of production in 2008. "We're working around the clock to adapt our plans to the operating situation, " Cutifani said in a presentation of the company's 2007 results. South Africa has been hit by weeks of rolling blackouts that have halted business for hours at a time each day. Cutifani said the outages already have cost 200,000 ounces of production in January. If the company operates the rest of the year at 90% of normal power supply, it would lose an additional 200,000 ounces. The company would consider shutting one mining unit and running another at 50% to reduce its demand, he said. AngloGold is working with power monopoly Eskom Holdings Ltd. to achieve a stable supply, Cutifani said. -By Jeffrey Sparshott, Dow Jones Newswires; +44 (0)207 842 9347; jeffrey.sparshott@dowjones.com (END) Dow Jones Newswires 02-07-080416ET