Mark Cutifani

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Mark Cutifani
Born 2 May 1958
Australia
Occupation CEO of Anglo American (from April 2013)

Mark Cutifani (born 2 May 1958)[1] is an Australian businessman and the former CEO of South African gold mining company AngloGold Ashanti, a position he held from October 2007 until March 2013.[2][3]

In January 2013 it was announced that Cutifani would become the new chief executive of mining group Anglo American, starting his new role on 3 April 2013, replacing Cynthia Carroll in this position.[4]

Biography

Mark Cutifani, after leaving high school in 1976, joined Coal Cliff colliery and enrolled in the University of Wollongong in 1977 to complete a degree in Mining Engineering. He graduated in 1982.[5]

After working for Coal Cliff, he joined Kalgoorlie Gold Mines, the Western Mining Corporation, Normandy Mining and Sons of Gwalia.[1] He became the managing director of Sons of Gwalia in March 2000 but resigned from his position on 14 February 2003, in a surprise move, to join Inco Limited.[6] The Sons of Gwalia company entered administration 16 month later, in August 2004,[7] following a financial collapse,[8] with debts exceeding $800 million after suffering from falling gold reserves and hedging losses.[9]

Cutifani left Canadian company Inco, where he held the position of chief operating officer, to join AngloGold Ashanti, being appointed a director of the company on 17 September 2007 and as CEO on 1 October that year.[3] He introduced a "Safety is our first value" campaign within the company shortly after resuming his position. Research into the 2007 fatalities at the company had shown that 70% of the fatalities were caused by sub-standard operations or actions. Cutifani was hoping to reduce the number of fatalities by a change of culture within the company, citing legacy issues from the past as a main cause for the fatalities, and the improvement of communication.[10]

He was one of the critics of the new Australian Mining Super Tax, which was announced in 2010, stating that it could delay or endanger the company's Tropicana Gold Mine project.[11][12]

Private life

Cutifani has seven children from two marriages.[5]

References

  1. ↑ 1.0 1.1 Mark Cutifani miningweekly.com, accessed: 9 July 2010
  2. ↑ Annual Report 2009 AngloGold Ashanti website, accessed: 9 July 2010
  3. ↑ 3.0 3.1 Our executive team AngloGold Ashanti website, accessed: 9 July 2010
  4. ↑ Anglo American names its next chief executive www.bbc.co.uk, published: 8 January 2013, accessed: 8 January 2013
  5. ↑ 5.0 5.1 Mark Cutifani University of Wollongong website, accessed: 9 July 2010
  6. ↑ Geologist brings 'new eyes' to Sons of Gwalia The Sydney Morning Herald, published: 20 January 2004, accessed: 8 February 2010
  7. ↑ SONS OF GWALIA LIMITED (SGW) delisted.com.au, accessed: 5 February 2010
  8. ↑ Sons of Gwalia's gold hedging had big holes The Sydney Morning Herald, published: 4 September 2004, accessed: 4 September 2009
  9. ↑ Ernst &Young agrees to $125m Sons of Gwalia settlement The West Australian, published: 4 September 2009, accessed: 4 September 2009
  10. ↑ Annual Report 2007 AngloGold Ashanti website, accessed: 13 July 2010
  11. ↑ AngloGold sides with Rio on sovereign risk issue The Age, published: 3 June 2010, accessed: 9 July 2010
  12. ↑ Future projects in jeopardy, say analysts The Australian, published: 3 June 2010, accessed: 9 July 2010

External links

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