These 10 Firms Led Lagged Performance on Wednesday

7. AngloGold Ashanti plc (NYSE:AU)

AngloGold saw its share prices drop by 5.96 percent on Wednesday to finish at $40.57 each in line with lower gold prices, as investor funds flocked to other higher-yielding assets.

As of 4:46 PM EDT on Wednesday, gold spot prices were down by 2.73 percent at $3,288.44 per ounce.

In recent news, AU officially inked a model agreement with the Egyptian Mineral Resources Authority (EMRA) to exploit gold ore and associated minerals in various areas in the eastern desert of Egypt.

According to Karim Badawi, Egypt’s Minister of Petroleum and Mineral Resources, the deal marked the new beginning for the mining sector and will open horizons for other international players to bolster mining in gold and other minerals.

AU is a global gold mining company with a diverse, high-quality portfolio of operations, projects, and exploration activities in 11 countries.

Apart from Egypt, its portfolio includes operations in Argentina, Australia, Brazil, the Democratic Republic of the Congo (DRC), Ghana, Guinea, and Tanzania, as well as greenfield projects in Colombia, Côte d’Ivoire and the US.

It also conducts greenfield exploration activities in Argentina, Australia, Brazil, Côte d’Ivoire, Egypt, Tanzania, and the US.