With the prospect of a takeover in sight, Anglo American’s first South African chief executive in 15 years is tasked with unlocking value from the global mining company
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An international forum draws strength from worldwide protests against extraction
The gold miner is interested in buying troubled platinum operations but has found Anglo American to be moving at a slower-than-anticipated pace.
Standard Bank say nine more poorly performing assets could be put up for sale by Anglo as it prepares to report its first-half earnings.
The chief executive of Anglo American plans to double profitability in the company after shedding low-income operations.
The diamond mining company, which saw returns of 10% return on capital, has been tasked by its parent company to deliver 15% by 2016.
The mining giant is pleased with the performance of its copper operations but has maintained output forecasts for fear of setbacks.
The market waits with caution to see what Anglo American pulls out of the hat.
Randgold Resources head Mark Bristow says Anglo American’s Mark Cutifani will certainly lose a bet that its DRC mine won’t produce gold this year.
Anglo American is prepared to be opportunistic in pursuing acquisitions even as falling commodity prices force the mining industry to cut spending.
SA’s mining industry could see sustained job losses over the next 10 to 20 years as greater mechanisation and new mining techniques are introduced.
Mark Cutifani, head of AngloGold Ashanti will replace outgoing chief executive Cynthia Carroll at the helm of mining giant AngloAmerican.
AngloGold Ashanti has become the 49th business partner to join Eskom’s energy efficiency drive, 49M.
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/ 18 February 2009
AngloGold Ashanti will sell its Tau Lekoa mine as well as the adjacent Edgenoeg and Weltevreden project areas to smaller miner Simmer & Jack mines.
South Africa’s AngloGold Ashanti, the world’s third biggest gold producer, said on Friday it planned to raise R13,48-billion through a rights offer of new stock. The mining group said it had finalised terms of the offer and shareholders had approved the issue of up to 71-million shares.
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/ 7 February 2008
Due to the country’s power supply crisis, AngloGold Ashanti expected a reduction of approximately 400Â 000 ounces of gold in 2008. Diamond, gold and platinum mines in South Africa shut down production for just under a week in late January because of safety considerations.
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/ 4 February 2008
Randgold Resources said 2007 net profit fell 10% as costs rose, but the African gold producer said on Monday that a buoyant gold price should boost this year’s earnings. ”On a before-tax basis at gold, we’ll get up to an 80% odd increase in our profits for the full year,” said chief executive Mark Bristow.
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/ 28 January 2008
South Africa’s mining industry could lose up to R9,2-billion in revenue and the country’s GDP could take a knock of up to R5,6-billion as a result of the power restrictions imposed on mines by Eskom last week. T-Sec economist Mike Schussler estimates that the mining industry is losing about R330-million in revenues a day.
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/ 28 January 2008
South African mining companies hope to resume production later this week after being allowed to carry out underground maintenance work in mines across the country that have been crippled by a power crisis. Analysts estimated that hundreds of millions of rand had already been lost as the halt on mining entered its fourth day on Monday.
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/ 1 November 2007
AngloGold Ashanti, the world’s third biggest gold producer, reported flat third-quarter headline earnings per share on Thursday after costs rose, undermining an increase in gold output. AngloGold’s new chief executive officer Mark Cutifani said the firm was reviewing its operations with a view to disposing of assets that did not add value
The deaths of four miners in a rockfall forced a halt to production at AngloGold Ashanti’s Mponeng underground mine on Monday while safety checks were carried out, the company said. Increasing deaths at South Africa’s deep and treacherous underground mines have thrust safety into the spotlight in a country where about 200 miners are killed in accidents every year.