Cutifani says to initially focus on [Anglo American] value creation – by Idéle Esterhuizen (MiningWeekly.com – April 3, 2013)

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JOHANNESBURG (miningweekly.com) – Diversified miner Anglo American’s new CEO Mark Cutifani has indicated that his initial focus would be to find ways to improve value creation within the company.

“I will look to start with the value proposition for being a major diversified [company]. I will look at the portfolio, the commodities we are in – do they make sense? Are they the right commodities for the future? The assets – are they competitive?…Should we be doing things differently to realise value?” he said during a video interview on his first day as CEO of the mining group.

Cutifani, who has mined on six continents in 25 countries and in 20 commodities and who succeeded Cynthia Carroll, indicated that he would be scrutinising the company’s balance sheet to determine whether it had the capacity to realise value and whether it was adequately operationally flexible.

A process of determining whether the right people were in the right positions to do the required work would also be undertaken.
Further, Cutifani said he would be looking into the company’s structures and systems, as the mining sector was lagging behind others in this regard.

“I would like to put those pieces together in that first three or four months…getting the major themes out there and understanding what we have to attack to really create value in the long term.

“Within three or four months, you will start to get a sense of the key messages, the direction we are going and what we want to try and do, as a team, to deliver value to all our stakeholders, in particular our shareholders,” he stated.

He indicated that he would also work towards determining whether Anglo American had realised the potential of the diversity in its portfolio, where he believed great opportunity lay.

For the rest of this article, please go to the MiningWeekly.com website: http://www.miningweekly.com/print-version/cutifani-says-to-initially-focus-on-value-creation-2013-04-03

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