Company Comment
New blood at the helm of AngloGold Ashanti
AngloGold could look quite different in the coming years under new Canadian CEO
AngloGold Ashanti promises to look very different in coming years under the guidance of its new Canadian CEO, Kelvin Dushnisky. While radical changes to the company would need board and shareholder approval, his vision for the company marks another change in the venerable South African gold miner, which in the past few years has largely discarded its domestic roots. AngloGold has shut and sold mines in SA in the past year, leaving it with one underground mine, which is the world’s deepest at 4km below surface, and a tailings re-treatment business. The rest of its assets are in the rest of Africa, Australia and South America. Dushnisky used the word “focus” a lot when quizzed about his vision for AngloGold, the world’s third-largest gold miner. He said the portfolio of 14 mines “feels heavy” and he wanted to see more concentration around existing assets where there was geological potential. The vision is already playing out with Sadiola, a long-time AngloGold asset, now potentially u...
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