“It’s an excellent appointment, and it removes uncertainties about the leadership crisis,” Noah Capital analyst Rene Hochreiter has said about the appointment of AngloGold Ashanti's new CEO Alberto Calderon.

In Colombia, “he can probably get things done better than say an American or South African,” he said.

AngloGold on July 6 named the former BHP Group executive as its CEO, ending a nearly year-long hunt for a new boss at the No 3 gold producer.

Calderon, formerly the CEO of Melbourne-based explosives maker Orica, will join AngloGold on September 1, the company said. AngloGold hasn’t had a permanent CEO since Kelvin Dushnisky’s abrupt departure last September after holding the position for just two years.

AngloGold shares have underperformed peers in the past year as the CEO hunt dragged on and the company had to suspend operations at a key mine in Ghana. The new CEO may also face questions about whether the company could finally move its primary listing from Johannesburg -- an idea that’s been bandied about for years -- and if it should move forward with developing two new mines in Colombia.

Calderon, who was in the running for the CEO job at BHP before the position went to Andrew Mackenzie, is a mining veteran, though most of his experience is focused on industrial metals, coal and oil.

“We have the right person to lead this company forward and realize its outstanding potential, drawing on his huge leadership experience in the resources sector across a variety of geographies,” said AngloGold chairperson Maria Ramos said in the statement.

While AngloGold emerged from a mining empire created by Ernest Oppenheimer a century ago, it sold its remaining South African mine last year to focus on more profitable operations elsewhere in Africa, Australia and the Americas.

Calderon will take over from interim CEO Christine Ramon, who will return to her previous position as AngloGold’s CFO. During her year at the helm, Ramon sketched out a plan to expand output at key operations in Tanzania, Ghana and Guinea, while potentially investing more than $2-billion in two new mines in Colombia from 2022.

Calderon, who gained experience of South Africa during his time as head of BHP’s aluminum business, was CEO of both Cerrejon Coal and Ecopetrol in his home country of Colombia. Prior to that, he held leadership positions in the International Monetary Fund and the Colombian government.

AngloGold joined rivals in increasing its dividend after record gold prices boosted earnings last year, but producers have had to work hard to retain investor interest this year as bullion’s rally sputtered.

The new CEO must also get the company’s key Ghana mine back on track after underground operations at Obuasi were suspended in May following the death of a worker. That setback will curb output this year, just as the mine was ramping up following a $545-million redevelopment.