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The AngloGold Ashanti CEO has endeared himself to South Africans for sharing their love of Johannesburg (well, Joíburgers, at least), and by even indulging in rugby banter. Investors love him best for being the person to finally erase the gold firmís hedge book. Itís forward sales book now less than a yearís production, a solid decision given gold price gains. Indefatigably optimistic, Cutifani has quipped AngloGold could go from Anglo American subsidiary to competitor after considering growing the firmís copper output as a gold by-product. Meanwhile, Cutifani has calmed the often stormy relationship with Mark Bristow, CEO of Randgold Resources, agreeing to jointly buy control of Kibali Gold (formerly Moto Gold). By and large however, Cutifaniís focus remains squarely on fixing AngloGoldís existing mines. Certainly, itís SA mines are safer, but stoppages have led to missed production targets. The initial 45% year-on-year Eskom tariff hike proposal has been scrapped, but Cutifani anticipates power costs in SA will nonetheless double.
LIFE OF MARK
The son of Italian and Irish immigrants, Autralian Cutifiani worked and studied as a youngster and has an immigrantís appetite to prove himself through hard work. Heís a miner by trade but aquired a slew of senior positions at Rio Tinto, Normandy Mining, Sons of Gwalia and Inco (renamed CVRD Inco where he was COO).