Africa-Press – South-Africa. AngloGold Ashanti said on Friday it was placing its loss-making Córrego do Sítio mine in Brazil into care and maintenance, while in a separate announcement it said it has appointed industry veteran Richard Jordinson as its new chief operating officer (COO).
The Brazilian mine has generated operating results characterised by poor production and costs that remain well above the gold price, the group said on Friday, reporting negative free-cash flow of $30 million (about R565 million) in the first six months of the year. The mine has been in operation since 1989 and accounted for about 2.4% of the group’s first-half production, or 30 000 ounces.
AngloGold, which sold off its last operational assets in South Africa in 2020, and recently moved its listing to New York, also said on Friday it had appointed Jordinson as COO with effect from October – replacing Marcelo Godoy, who has been the interim COO since July, following the retirement of Ludwig Eybers.
Jordison brings 38 years of industry experience to this role, earned across the gold, iron ore, nickel, zinc and lead mining sectors, AngloGold Ashanti said.
He joined the group in 2012 as general manager of Sunrise Dam in Australia. In April 2017, Jordinson was appointed general manager at Geita Gold Mine, AngloGold Ashanti’s largest producing asset, where he led the team in Tanzania for more than four years. During that period, Geita successfully transitioned to underground production across three separate mining fronts, established a new open-pit mine and almost doubled mining reserves.
In 2021, he was appointed senior vice president for AngloGold Ashanti’s Ghana-Tanzania business unit.
Shares in AngloGold Ashanti were up just over 1% on Friday and have fallen in the year to date, but have risen more than 30% on a one-year basis. The group still has a secondary listing on the JSE, where it is valued at about R136 billion.
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