Anglo American Plc appointed Mark Cutifani as chief executive officer as the mining company seeks to reverse the $14 billion loss of market value it suffered in the five years his predecessor Cynthia Carroll was in charge.
AngloGold Ashanti Ltd., the world’s third-largest producer of the metal, cut its dividend by half in the third quarter and reduced annual spending plans by $200 million after strikes idled all of its South African mines.
South Africa is scaring investors and threatening job creation with escalating arguments over calls for nationalization of the mining industry, AngloGold Ashanti Ltd. Chief Executive Officer Mark Cutifani said.
Anglo American Plc will either be successful at reorganizing its platinum business and starting production at the Minas-Rio iron-ore mine in Brazil or be acquired, research company Sanford C. Bernstein Ltd. said.
Mark Cutifani, who today replaced Anglo American Plc head Cynthia Carroll, will assess the company’s assets and commodities within the next four months to ensure it’s squeezing the most value from its businesses.
AngloGold Ashanti Ltd. Chief Executive Officer Mark Cutifani is the leading contender to replace Cynthia Carroll at the helm of mining company Anglo American Plc, according to people familiar with the situation.