AngloGold Ashanti (NYSE:AU) Cutting Costs

Even though there is strong cost pressures on AngloGold Ashanti (NYSE:AU), they have plans to cut costs by 10 percent in 2010, even as estimates that energy and wages will increase significantly by 2012, with power costs expected to double by then.

AngloGold did slow down some in the last quarter, as earnings came in at $150 million, far below the quarter before.

Production also fell to 1.08 million ounces of gold for the quarter, a 9 percent decline.

Cost for each ounce of gold was $619, a 4 percent rise.