Dushnisky sets sights on shaping AngloGold Ashanti for a new gold industry order – by David McKay (MiningMX.com – July 10, 2019)


Outside, Johannesburg is thronging with activity. One of Dushnisky’s predecessors, Mark Cutifani, once confided that in his early days at AngloGold he was trepidatious about the drive over Nelson Mandela bridge that leads into Ntemi Piliso Street where AngloGold’s Turbine Hall office is located in downtown Johannesburg, with pedestrians giving new expression to jay-walking.

The view of Dushnisky, however, is that the chance to run AngloGold was too good an opportunity to let pass. “I don’t regret a day I was at Barrick (where he was president), but I also knew that I was at a point in my career where there wouldn’t be a lot of opportunities to shape the future of a company that was of Barrick scale.”

One of the facts of AngloGold’s corporate life is that it’s the world’s third largest gold producer, but ranks 14th in terms of market capitalisation.

It’s not a statistic about which Dushnisky wants to make a big deal, but one suspects his relatively quick decision regarding the sale of the South African assets – which he acknowledges was also partly informed by his position as an outsider – might have something to do with it.

AngloGold announced on May 9 that it intended to sell its South African operations consisting of Mponeng, the country’s deepest gold mine, in Carletonville, west of Johannesburg, and Mine Waste Solutions (MWS), about an hour’s drive away
in Stilfontein.

For the rest of this article: https://www.miningmx.com/top-story/37553-dushnisky-sets-sights-on-shaping-anglogold-ashanti-for-a-new-gold-industry-order/

Comments are closed.