Mark Cutifani

Mark Cutifani
Born	2 May 1958 Australia
Occupation	CEO of AngloGold Ashanti

Mark Cutifani (born 2 May 1958)^[1] is an Australian businessman and the current CEO and a director of South African gold mining company AngloGold Ashanti, a position he has held since October 2007.^[2][3]

As CEO of AngloGold Ashanti, Cutifani hopes to reduce the number of fatalities within the company to zero by 2015, stating that having to live with fatalities in the industry is his greatest disappointment.^[1] In his first two and a half years with Cutifani in charge, AngloGold Ashanti reduced the number of fatalities within the company by 70%. In 2006, before he took up office, the company had 37 fatalities, this number was reduced to 16 in 2009.^[4]

Biography

Mark Cutifani, after leaving high school in 1976, joined Coal Cliff colliery and enrolled in the University of Wollongong in 1977 to complete a degree in Mining Engineering. He graduated in 1982.^[5]

After working for Coal Cliff, he joined Kalgoorlie Gold Mines, the Western Mining Corporation, Normandy Mining and Sons of Gwalia.^[1] He became the managing director of Sons of Gwalia in March 2000 but resigned from his position on 14 February 2003, in a surprise move, to join Inco Limited.^[6] The Sons of Gwalia company entered administration 16 month later, in August 2004,^[7] following a financial collapse,^[8] with debts exceeding $800 million after suffering from falling gold reserves and hedging losses.^[9]

Cutifani left Canadian company Inco, where he held the position of chief operating officer, to join AngloGold Ashanti, being appointed a director of the company on 17 September 2007 and as CEO on 1 October that year.^[3] He introduced a "Safety is our first value" campaign within the company shortly after resuming his position. Research into the 2007 fatalities at the company had shown, that 70% of the fatalities were caused by sub-standard operations or actions. Cutifani was hoping to reduce the number of fatalities by a change of culture within the company, citing legacy issues from the past as a main cause for the fatalities, and the improvement of communication.^[10]

He was one of the critics of the new Australian Mining Super Tax, which was announced in 2010, stating that it could delay or endanger the company's Tropicana Gold Mine project.^{[11] [12]}

Private life

Cutifani has seven children from two marriages.^[5]

References

1. ^ ^{a b c} Mark Cutifani miningweekly.com, accessed: 9 July 2010
2. ^ Annual Report 2009 AngloGold Ashanti website, accessed: 9 July 2010
3. ^ ^{a b} Our executive team AngloGold Ashanti website, accessed: 9 July 2010
4. ^ AngloGold wants zero mine deaths by 2015 The Sydney Morning Herald, published: 29 March 2010, accessed: 9 July 2010
5. ^ ^{a b} Mark Cutifani University of Wollongong website, accessed: 9 July 2010
6. ^ Geologist brings 'new eyes' to Sons of Gwalia The Sydney Morning Herald, published: 20 January 2004, accessed: 8 February 2010
7. ^ SONS OF GWALIA LIMITED (SGW) delisted.com.au, accessed: 5 February 2010
8. ^ Sons of Gwalia's gold hedging had big holes The Sydney Morning Herald, published: 4 September 2004, accessed: 4 September 2009
9. ^ Ernst &Young agrees to $125m Sons of Gwalia settlement The West Australian, published: 4 September 2009, accessed: 4 September 2009
10. ^ Annual Report 2007 AngloGold Ashanti website, accessed: 13 July 2010
11. ^ AngloGold sides with Rio on sovereign risk issue The Age, published: 3 June 2010, accessed: 9 July 2010
12. ^ Future projects in jeopardy, say analysts The Australian, published: 3 June 2010, accessed: 9 July 2010

External links

• AngloGold Ashanti Homepage
• Mark Cutifani profile at Forbes.com

Persondata
Name	Cutifani, Mark
Alternative names
Short description
Date of birth	2 May 1958
Place of birth	Australia
Date of death
Place of death