Boyd, Roosen, Quartermain: It takes grit, invention, luck to make the big time
Mining industry legends discuss the backstories on their multibillion-dollar successes.
AngloGold Ashanti would “continue to focus on smaller acquisition opportunities” CEO Mark Cutifani said on Monday reports Mining Weekly.
Positive exploration and brownfield projects prompted the Johannesburg-based company to shift away from bigger acquisitions:
AngloGold’s completion of five small, but high-value-yielding acquisitions over the past four years, including First Uranium’s Mine Waste Solutions mine in South Africa, was expected to add about 700 000 oz/y to its production profile at about two-thirds of the cost its competitors would pay to build new assets, Cutifani said.
AngloGold in July reported stronger than expected second quarter gold production of 1.07 million ounces, up 9% compared to the first quarter, boosted by its South Africa operations which achieved 18% better output.
