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Cutifani leaving Inco for AngloGold Ashanti

Mark Cutifani is leaving his position as chief operating officer (COO) at CVRD Inco to become chief executive officer (CEO) of AngloGold Ashanti.

Mark Cutifani is leaving his position as chief operating officer (COO) at CVRD Inco to become chief executive officer (CEO) of AngloGold Ashanti.

Cutifani will be based at the company's headquarters in Johannesburg, South Africa, and will replace outgoing CEO Bobby Godsell in mid-September.

CVRD Inco released a statement to employees at 11:33 am Tuesday from Murilo Ferreira, president and CEO of the company.

"Mark's remarkable contributions to CVRD Inco will be missed by all of us. At the same time, we recognize that this is an opportunity for him and we wish him the best of luck in this exciting new role.

"In his short time with our company, Mark has left a positive lasting impression on everyone he touched with his unwavering enthusiasm, engaging style and keen sense of the business and strategic planning. A tireless worker, Mark has played a leading role in the growth and revitalization of CVRD Inco's operations worldwide."

Mayor John Rodriguez.

Ferreira continued, "During his time in Sudbury, Mark was a dedicated and respected community leader - chairing successful fundraising cutifanicampaigns for the United Way and Dynamic Earth and lending his support and expertise to countless other community-minded endeavours."

John Fera, president of Steelworkers Local 6500, had not heard the announcement about Cutifani leaving Sudbury when contacted by Northern Life Tuesday morning. "I think it is unfortunate for us, Sudbury and Canada," he said. "Mark has been a reasonable employer...he did good things for my members."
He knew how to practice dignity and respect for (union) members."

Fera called Cutifani "a visionary" who foresaw the current mining boom, "and made sure Sudbury was part of that future...He helped make the mining market what it is now."

"It is the right time to change leaders," said Godsell in statement release by AngloGold Ashanti.

"In Mark Cutifani, a mining engineer with a wide and impressive track record of both operating and executive experience across a range of minerals, including gold, and on several continents, we have a new leader who brings exactly the qualities and experience needed for AngloGold Ashanti's new chapter."

Cutifani has made a number of contributions to Greater Sudbury during his time at Inco. In 2006, he accepted the role of campaign chair for the United Way fundraising campaign.

"As president of United Way Centraide last year, I had the privilege to work with Mark on the campaign," said Abbas Homayed, publisher of Northern Life. "Mark was campaign chair and he did a fantastic job of aligning everyone to generate the most money the United Way ever raised in Sudbury.

"He championed many projects for the betterment of this community, and that is what we will miss about him the most. He was a remarkable statesman for Sudbury in many, many ways."

Northern Life president Michael Atkins, in a column he wrote in July 2006, called Cutifani, "the most talented, charismatic, straightforward, community-minded, hard-driving executive" to occupy Inco's top job in the over 33 years he has been in business in Sudbury.

Gerry Lougheed Jr., who has worked with Cutifani and his wife, Luana, on community fundraising events, said he was saddened by the news the couple was leaving the city.
He called Cutifani, "a cornerstone of the community," and an advocate for the non-profit sector. Cutifani lent his support to agencies such as the United Way, the Sudbury Food Bank and fundraising for cancer research.

In the business community, Lougheed said Cutifani was "an effective communicator," who listened to others while making the company's position clear.

Earlier this year, Cutifani was presented with the Rotary Club's highest honour, the Paul Harris Award, for his contributions to the community.

Aout Cutifani
Cutifani is a graduate of the University of Wollongong in Australia with a BE in mining engineering. Cutifani has extensive experience with many different factions of mining operations, including engineering, management of operations for gold, coal and nickel, as well as a number of executive positions at various mining companies around the world. Cutifani made fast progression through the ranks at Inco since being hired as vice-president of mines operations for Canada and United Kingdom in 2003. He was then appointed to president of Ontario operations in 2004. In 2005 he was named president of North America and Europe, the same year the company recorded an annual net profit of $836 million. In 2006 he was named COO of Inco and held the position after Inco's merger with CVRD.

About AngloGold Ashanti
AngloGold Ashanti is one of the world's leading gold producers and has a variety of orebody types in key gold-producing regions around the world, including Russia, Australia and Brazil. The company is headquartered in Johannesburg, South Africa; mines there produced 5.6 million ounces of gold in 2006. Future investments for two of AngloGold's South African mines will eventually make them the deepest mines in the world.

with files from Vicki Gilhula and Kent Corness


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