World's number two gold producer, AngloGold Ashanti sustained and cemented its position as the world's second gold producer, with second Quarter gold production at 1,569,000 ounces of gold at cash cost of $278 per ounce.

Though the Ghana Stock Exchange listed-company produced the same volume of gold in the first quarter (January/March) this year, the second quarter (April/June) cash costs were down by 25%. For its shareholders and stakeholders, the company also reported strong financial performance with profit attributable to shareholders, including the Ghana Government and AngloGold American Corporation, increasing to $96 million from $77 million.

According to the company's official release, "production was consistent quarter-on-quarter, due to solid performance from the Brazilian, Malian and Australian assets. There were significantly improved performances at several operations, including Siguiri in Guinea, which posted a 37,000oz increase in production, while Obuasi in Ghana continued on its course of operational improvement in productioion."

The Obuasi Mine, the only underground mine in Ghana, produced a total of 102,000 ounces of gold, which was 11% better than the first quarter with average cash cost dipping from $362 per ounce to $292 per ounce.

Similarly the AngloGold Ashanti's Iduapriem mine in Wassa West produced 40,000 ounces for the quarter while Siguiri Mine in Guinea made a record production of 80,000 ounces. Meanwhile, the former Chief Financial Officer of the former Ashanti Goldfields and until recently the Deputy Chief Financial Officer of AngloGold Ashanti has been confirmed as the Executive Director - Finance of the company.

Srinivastan Venkatakrishnan, popularly known, as Venkat joined the then Ashanti Goldfields in 2000 from Deloitte and Touche and was appointed in 2005 as the Deputy Chief Financial Officer. He replaces Jonathan Best, who has just retired.