INTERVIEW
AngloGold’s tough stance raises questions over SA presence
New CEO Kelvin Dushinsky disposing of assets that don’t fit new strategy
AngloGold Ashanti's mine in Argentina is up for sale as new CEO Kelvin Dushnisky takes a hard line on assets and exploration tenements that do notfit the new strategy he outlined on Tuesday for the world's third-largest gold miner. AngloGold, which reported a strong return to profit in 2018, has within six months put Sadiola in Mali and Cerro Vanguardia in Argentina up for sale, a process Dushnisky stressed was part of a strategic reorganisation of the company's 14 mines rather than any need to repay debt or to raise capital. Dushnisky’s maiden results presentation was notable for the clear, unequivocal strategy he outlined around asset retention criteria, investment hurdles, debt levels, project evaluation and production costs. “We think a clearer approach should be welcomed by the market even if it is potentially not as ‘radical’ as some may have hoped,” said RBC Capital Markets analyst James Bell. “This is not a ‘big-bang’ change but instead includes refinement of aspects of Angl...
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