By Ian Walker 



  AngloGold Ashanti Ltd. on Friday reported a near fourfold rise in first-half net profit as it benefited from higher gold prices and cost-cutting measures. 


  The South Africa-based gold miner said it produced 1.5 million ounces of gold in the period compared with 1.6 million, as guided on July 27. It said that the company lost 85,000 ounces of production in the period due to the coronavirus pandemic, of which 63,000 ounces were from South Africa. 


  The company withdrew guidance in March, and said Friday that it remains suspended. 


  The average gold price received during the period was $1,642 an ounce, a 26% increase from $1,299 an ounce over the corresponding period last year. 


  Net profit for the half year ended June 30 was $421 million compared with $114 million for the first half of 2019. 


  Headline earnings--one of the company's preferred metrics, which strips out exceptional and other one-off items--rose to $404 million from $120 million, in line with guidance given last month. It had guided for headline earnings between $392 million and $416 million. 


  Write to Ian Walker at ian.walker@wsj.com