AngloGold Ashanti Not Looking at Acquisitions
AngloGold Ashanti Chief Executive Mark Cutifani said that the company was not currently looking at making acquisitions, although they were always open to opportunities if they made economic sense. The company was ready to accept a range of options as per the CEO.
Mark Cutifani added that they were not making financial provisions for a possible set of compensation cases against the gold mining industry after the Supreme Court of South Africa’s ruling. The case is said to have opened up the possibility of a number of former miners suffering from lung disease to sue previous employers for compensation.
The Chief Executive Officer said that the company had come a long way in improving deep level mining operations and he believed that they still had a long future ahead of them. He said that their new operating model has worked exceptionally well for them and so they will not split anything on the basis of improving operations.
Mr Cutifani also felt that there was a good possibility of the prices of gold topping $ 1,500 an ounce in the near future. He said that the world has rediscovered the importance of gold and prices are now starting to trade closer to fundamentals.
AngloGold Ashanti is a leading global gold producer operating in 11 countries and listed on five stock exchanges, including the NYSE. It runs some of the deepest gold mines in the world.
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Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.
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