LONDON Jan 7 Global miner Anglo American
will name Australian Mark Cutifani, chief executive of
gold miner AngloGold Ashanti, as its new chief
executive as early as Tuesday, two sources familiar with the
If last minute details are settled overnight, Cutifani, who
began his career as a trainee miner, will be appointed to
replace Cynthia Carroll in what analysts and investors see as
one of the toughest jobs in the business.
Cutifani, named as a frontrunner over the weekend, will be
expected to use his South African mining credentials and more
than five years' experience at the helm of AngloGold to smooth
Anglo American's path as it tackles restive unions in the
country and restructures its battered platinum arm.
Carroll announced in October that she planned to step down
after more than five years at the helm, under pressure from
investors unhappy with Anglo's lagging share price and its
dependence on strike-hit South Africa. She has also been
criticised for escalating costs at the group's Brazilian
flagship iron ore project, Minas Rio.
Cutifani, named head of South Africa's Chamber of Mines last
year, is a prominent figure in South African mining who has
defended the country as an investment destination. He had been
named as one of a handful of potential candidates from the start
of Anglo's search process last year.
Anglo American, the world's largest diversified mining
group, declined to comment. Officials at AngloGold, created from
Anglo American's gold assets, were not immediately available for