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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (17476)	4/9/2008 11:12:57 PM
From: LoneClone	Read Replies (1) \| Respond to of 194541

Anglo Opts for a New-Look Top Position for South Africa By Charlotte Mathews 09 Apr 2008 at 10:45 AM GMT-04:00 resourceinvestor.com JOHANNESBURG (Business Day) -- Anglo American [Nasdaq:AAUK; LSE:AAL] has snared former Gold Fields CEO Ian Cockerill to head its coal division, Anglo Coal, and has also reinvented its top South African job. Richards Bay Coal Terminal (RBCT) CE Kuseni Dlamini has been appointed head of Anglo American SA, a position redesigned after the departure of previous incumbent Lazarus Zim almost two years ago. Zim’s tenure was marked by suspicions that his role was largely symbolic. At the time, deputy minerals minister Lulu Xingwana termed the position “separate development” as Zim had not been given a role on the Anglo group’s executive committee, its global decision-making body. Anglo spokesman James Wyatt-Tilby said that Cockerill, who announced his resignation from the gold group a week ago, would replace John Wallington, who was leaving to pursue other interests. Dlamini, who joins the group on July 1, will be “head” of Anglo American SA, but not CEO. Dlamini and Cockerill will sit on Anglo American’s executive committee. Anglo American CEO Cynthia Carroll said in February the group was not planning to appoint another CEO for its South African operations. Implicitly confirming Xingwana’s comment, Carroll said that had been a “representative” position. Dlamini said yesterday that although he had not yet joined Anglo he believed it was now “in a different place and a different era from when Lazarus Zim was on board.” “It is significant that South Africa is the only region to have a representative on the executive committee of Anglo plc,” Dlamini said. Wyatt-Tilby confirmed this. He said it was an indication of the continuing importance of South Africa to Anglo. Anglo holds 46% of its net assets in South Africa. South Africa contributes 45% of operating profits from continuing operations. Dlamini, who studied at Natal University before going to Oxford University as a Rhodes scholar, joined De Beers in 1996. He became executive chairman of RBCT, the world’s largest coal terminal, in 2005. Cockerill said yesterday that Anglo Coal’s turnover, about $4 billion a year, was similar to Gold Fields’. He spent about 20 years in Anglo group divisions between 1979 and 1999. He had some exposure to the coal business at Minorco, but was particularly intrigued by the future of the energy sector, he said. The job would involve not only expanding the existing operations globally, but exploring the possibilities for clean coal and other downstream activities, he said.