Good post…….

4
Comment
Favorite

Whlaing
2021-07-06

Good post…….

AngloGold Names CEO as No. 3 Gold Miner Eyes Colombia Growth

AngloGold Ashanti Ltd. appointed former BHP Group executive Alberto Calderon to its top job, ending

AngloGold Names CEO as No. 3 Gold Miner Eyes Colombia Growth

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment

Top
Latest

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":157866005,"tweetId":"157866005","gmtCreate":1625578346807,"gmtModify":1703744157929,"author":{"id":3579832453714819,"idStr":"3579832453714819","authorId":3579832453714819,"authorIdStr":"3579832453714819","name":"Whlaing","avatar":"https://static.tigerbbs.com/76b9a71400b52c35a12f5280a15329bc","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":5,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"extraTitle":"","html":"<html><head></head><body><p>Good post…….</p></body></html>","htmlText":"<html><head></head><body><p>Good post…….</p></body></html>","text":"Good post…….","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/157866005","repostId":1115183227,"repostType":4,"repost":{"id":"1115183227","kind":"news","pubTimestamp":1625578090,"share":"https://ttm.financial/m/news/1115183227?lang=en_US&edition=fundamental","pubTime":"2021-07-06 21:28","market":"us","language":"en","title":"AngloGold Names CEO as No. 3 Gold Miner Eyes Colombia Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=1115183227","media":"Bloomberg","summary":"AngloGold Ashanti Ltd. appointed former BHP Group executive Alberto Calderon to its top job, ending ","content":"<p>AngloGold Ashanti Ltd. appointed former BHP Group executive Alberto Calderon to its top job, ending a nearly year-long head hunt that’s weighed on the shares of the No. 3 gold producer.</p>\n<p>Calderon, a 61-year-old Colombian who once served as a junior minister in a government that fought drug lord Pablo Escobar, will join AngloGold on Sept. 1. The Ivy League economist, who was in the running to become chief executive officer at BHP before the position went to Andrew Mackenzie, served as CEO of Melbourne-based explosives maker Orica Ltd. until February.</p>\n<p>AngloGold hasn’t had a permanent CEO since Kelvin Dushnisky’s abrupt departure last September after holding the position for just two years. The Johannesburg-based miner’s shares have underperformed peers in the past year as the CEO hunt dragged on and the company had to suspend operations at a mine in Ghana. While Calderon’s experience lies in industrial metals, coal and oil, his background may help AngloGold to advance its key expansion projects in Colombia.</p>\n<p>“It’s not going to be easy, but I hope I can explain what a world class mining company like AngloGold can do,” Calderon said in a video interview, commenting on his task of getting the Colombian authorities to approve the miner’s Quebradona and Gramalote projects. “I think I have a good chance of persuading them.”</p>\n<p>AngloGold’s shares climbed as much as 5.8% in Johannesburg, the most in seven weeks. That pared the stock’s losses over the past 12 months to 42%.</p>\n<p>While AngloGold emerged from a mining empire created by Ernest Oppenheimer a century ago, it sold its remaining South African operations last year to focus on more profitable mines elsewhere in Africa, Australia and the Americas. The new CEO may face questions about whether the company could finally move its primary listing from Johannesburg -- an idea that’s been bandied about for years.</p>\n<p>“It’s not the immediate priority for me but it’s something that in due time the board and myself will consider again and give our views to the market,” Calderon said.</p>\n<p>A potential London listing is among the options that Calderon will consider as he tries to close the discount at which AngloGold trades to larger rivals Newmont Corp. and Barrick Gold Corp.</p>\n<p>“If we can bring credibility back to our projects, be more predictable in our production and cost focus, if we are seen as the excellent operators that we are, I think we can bring a lot of that discount value back into this company and that’s my plan,” he said.</p>\n<p>Calderon will take over from interim CEO Christine Ramon, who will return to her previous position as AngloGold’s chief financial officer. During her time 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.</p>\n<p>Leadership Experience</p>\n<p>Calderon, who gained experience of South Africa during his time as head of BHP’s aluminum business, was CEO of both Cerrejon Coal Co. and Ecopetrol in his home country of Colombia. Prior to that, he held leadership positions at the International Monetary Fund.</p>\n<p>“It’s an excellent appointment, and it removes uncertainties about the leadership crisis,” said Rene Hochreiter, an analyst at Noah Capital Ltd. In Colombia, “he can probably get things done better than say an American or South African,” he said.</p>\n<p>Calderon’s six years at Orica coincided with a difficult period for the company. The explosives maker had to contend with a steep rise in the price of natural gas, it’s main input cost, and more recently Orica’s profits hit by the Covid-19 economic slowdown and China’s ban on Australian coal imports. Orica shares fell by more than a third during Calderon’s tenure.</p>\n<p>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.</p>\n<p>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.</p>\n<p>“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 Chairman Maria Ramos said in the statement.</p>\n<p>What Bloomberg Intelligence Says</p>\n<p>“AngloGold’s appointment of experienced mining executive Alberto Calderon as CEO is a good starting point for the company to narrow the valuation gap with many of its gold-mining peers. While the market may take a “wait and see” approach given Calderon’s lack of specific gold-mining background, the combination of his recent Australian-based role and his Colombian heritage fits in well with the geographical spread of AngloGold’s assets and the company’s growth ambitions.”</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AngloGold Names CEO as No. 3 Gold Miner Eyes Colombia Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAngloGold Names CEO as No. 3 Gold Miner Eyes Colombia Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-06 21:28 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/no-3-gold-miner-anglogold-064803124.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>AngloGold Ashanti Ltd. appointed former BHP Group executive Alberto Calderon to its top job, ending a nearly year-long head hunt that’s weighed on the shares of the No. 3 gold producer.\nCalderon, a 61...</p>\n\n<a href=\"https://finance.yahoo.com/news/no-3-gold-miner-anglogold-064803124.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://finance.yahoo.com/news/no-3-gold-miner-anglogold-064803124.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115183227","content_text":"AngloGold Ashanti Ltd. appointed former BHP Group executive Alberto Calderon to its top job, ending a nearly year-long head hunt that’s weighed on the shares of the No. 3 gold producer.\nCalderon, a 61-year-old Colombian who once served as a junior minister in a government that fought drug lord Pablo Escobar, will join AngloGold on Sept. 1. The Ivy League economist, who was in the running to become chief executive officer at BHP before the position went to Andrew Mackenzie, served as CEO of Melbourne-based explosives maker Orica Ltd. until February.\nAngloGold hasn’t had a permanent CEO since Kelvin Dushnisky’s abrupt departure last September after holding the position for just two years. The Johannesburg-based miner’s shares have underperformed peers in the past year as the CEO hunt dragged on and the company had to suspend operations at a mine in Ghana. While Calderon’s experience lies in industrial metals, coal and oil, his background may help AngloGold to advance its key expansion projects in Colombia.\n“It’s not going to be easy, but I hope I can explain what a world class mining company like AngloGold can do,” Calderon said in a video interview, commenting on his task of getting the Colombian authorities to approve the miner’s Quebradona and Gramalote projects. “I think I have a good chance of persuading them.”\nAngloGold’s shares climbed as much as 5.8% in Johannesburg, the most in seven weeks. That pared the stock’s losses over the past 12 months to 42%.\nWhile AngloGold emerged from a mining empire created by Ernest Oppenheimer a century ago, it sold its remaining South African operations last year to focus on more profitable mines elsewhere in Africa, Australia and the Americas. The new CEO may face questions about whether the company could finally move its primary listing from Johannesburg -- an idea that’s been bandied about for years.\n“It’s not the immediate priority for me but it’s something that in due time the board and myself will consider again and give our views to the market,” Calderon said.\nA potential London listing is among the options that Calderon will consider as he tries to close the discount at which AngloGold trades to larger rivals Newmont Corp. and Barrick Gold Corp.\n“If we can bring credibility back to our projects, be more predictable in our production and cost focus, if we are seen as the excellent operators that we are, I think we can bring a lot of that discount value back into this company and that’s my plan,” he said.\nCalderon will take over from interim CEO Christine Ramon, who will return to her previous position as AngloGold’s chief financial officer. During her time 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.\nLeadership Experience\nCalderon, who gained experience of South Africa during his time as head of BHP’s aluminum business, was CEO of both Cerrejon Coal Co. and Ecopetrol in his home country of Colombia. Prior to that, he held leadership positions at the International Monetary Fund.\n“It’s an excellent appointment, and it removes uncertainties about the leadership crisis,” said Rene Hochreiter, an analyst at Noah Capital Ltd. In Colombia, “he can probably get things done better than say an American or South African,” he said.\nCalderon’s six years at Orica coincided with a difficult period for the company. The explosives maker had to contend with a steep rise in the price of natural gas, it’s main input cost, and more recently Orica’s profits hit by the Covid-19 economic slowdown and China’s ban on Australian coal imports. Orica shares fell by more than a third during Calderon’s tenure.\nAngloGold 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.\nThe 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.\n“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 Chairman Maria Ramos said in the statement.\nWhat Bloomberg Intelligence Says\n“AngloGold’s appointment of experienced mining executive Alberto Calderon as CEO is a good starting point for the company to narrow the valuation gap with many of its gold-mining peers. While the market may take a “wait and see” approach given Calderon’s lack of specific gold-mining background, the combination of his recent Australian-based role and his Colombian heritage fits in well with the geographical spread of AngloGold’s assets and the company’s growth ambitions.”","news_type":1,"symbols_score_info":{"AULDF":0.9}},"isVote":1,"tweetType":1,"viewCount":2290,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":11,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}