However this path is not so easy to browse

The two main groups gold African, South African AngloGold Ashanti and Gold Fields, have not benefited in the first quarter of the new rise of prices in the spot of the yellow metal, from 1.098,60 to 1.114,50 dollars per ounce. Their total cost cash increase faster than gold. Aggravating their production is, indented as well in the last quarter of last year that in the face of the first three months of a year earlier. For Gold Fields, the flow has fallen 12 percent one quarter to another (-9 annual rate), to 793.000 ounces, and AngloGold Ashanti back is encrypted to about 9 (2.2 over the same period of 2009), with 1.08 million ounces. Over one year average cash cost of the extractive companies jumped by about the third. Gold Fields has produced gold by spending 703 dollars an ounce, registering a flight of 15 from the previous quarter, while AngloGold Ashanti content increased 3.5 to $ 619 ounces, but less well than its competitor on one-year: 34.4, 30.1.

The average cash total cost of Gold Fields now represents 64 of the average prize won by ounce of metal marketed between January and March. AngloGold Ashanti has a comparable underperformance with a ratio of 61. A year ago, this report was for the two groups to 52. As a comparison, the most experienced competitors, the world leader and his cadet of the gold industry, respectively Canadian Barrick Gold and American Newmont Mining, produced of gold in the first quarter to cost cash of 442 dollars for the first and $ 480 for the second.

Bad operational figures of the two South African Giants have not failed to affect their quarterly financial performance. Gold Fields posted a net profit excluding exceptional items divided by 4.6 to 40 million dollars, over the last quarter of 2009, and AngloGold Ashanti saw his melt more 3.7 times, to $ 61 million. The operating margin of Gold Fields has fallen by 43 in the fourth quarter of 2009 and 35 in the first quarter of 2010. Nick Holland, the pattern of Gold Fields, explained the poor operational figures by the traditional Christmas, especially long in South Africa and are an opportunity for a large part of the miners to return to their villages, often remote mines. He added that sites have been closed due to maintenance and strengthening of security measures after the rise of the workmen, a real wound that continues to ravage the South African mines.

Debate on peacebuilding

The "seasonal" fall of flows could be even tougher if the international assets of Gold Fields had not mitigated it by delivering 6 or more. The decline in volumes was the rule also for AngloGold, except those from its Australian operations. The battery of figures published Friday was likely to reopen the debate on the consolidation of the South African gold mines. Debate made public recently by Nick Holland, who has advocated for uniting the forces of his group with those of AngloGold Ashanti in areas where the two companies have adjacent mines.

However, this path is not so easy to browse. Mark Cutifani, the pattern of AngloGold, confirmed that discussions between gold producers to explore opportunities to identify synergies are underway already three years. However, he ruled out any merger between the South African assets of his company and those of its competitors.