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PULLING GOLDEN LEVERS

16th August 2013

By: Martin Creamer

Creamer Media Editor

  

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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

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