AngloGold’s new boss weighs asset sales to unlocking value
‘Some streamlining would make sense,’ says CEO Kelvin Dushnisky, but warns there will be no fire sales and no dramatic moves in SA
Toronto/Johannesburg — AngloGold Ashanti’s new CEO Kelvin Dushnisky says his goal of unlocking value at the world’s third-largest gold producer will involve focusing on its best assets and selling those that are not core to the business. Dushnisky took over at AngloGold on September 1 as the Johannesburg-based miner considers its future in its home country, which now accounts for about 12% of total output, and grapples with regulations that threaten profit at operations in Tanzania and the DRC. The former president of Barrick Gold ruled out "fire sales", but said he would focus on assets that generate the most value. "My initial sense is that 14 assets in a company our size is probably more than I’d like to see, some streamlining would make sense," Dushnisky said in an interview on the sidelines of the Denver Gold Forum in Colorado Springs. "We’re not going to sell anything for less than full value."
The executive will not consider acquisitions until AngloGold is "firing on al...
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