The recurring phenomenon — a warming of the Pacific Ocean as part of a complex cycle linking atmosphere and ocean — has in the past affected mine output, triggering price spikes.
CEO Andrew Mackenzie announced the firm would cut capital and exploration expenditure to $9 billion in the 2016 financial year from $12.6 billion in 2015.
The miner, which is the world’s No.4 bullion producer, said unreasonable wage demands and escalating power costs in South Africa will likely push the country’s industry down the slippery slope.