https://www.miningweekly.com

PULLING GOLDEN LEVERS

16th August 2013

By: Martin Creamer

Creamer Media Editor

  

Font size: - +

New AngloGold Ashanti CEO Srinivasan Venkatakrishnan (Venkat) is seen telling the media of the revenue and cost-cutting levers he will be pulling in the next 18 months. Revenue will be leveraged by 550 000 oz of new gold from the Tropicana project, in Australia, and the Kibali project, in the Democratic Republic of Congo at a cost of below $700/oz. Cost will be cut by $482-million in 2014 by lowering project and exploration spend and reducing the 2 000 corporate headcount by 40% to 1 200, a reduction of 800 positions.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Condra Cranes
Condra Cranes

ISO-certified Condra manufactures overhead cranes, portal cranes, cantilever cranes and crane components: hoists, drives, end-carriages, brakes and...

VISIT SHOWROOM 
SBS Tanks
SBS Tanks

SBS® Tanks is a leading provider of innovative water security solutions with offices in Southern Africa, East and West Africa, the USA and an...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.061 0.095s - 88pq - 2rq
Subscribe Now