Johannesburg. – Anglo American (JSE:AGL) has appointed current Gold Fields (JSE:GFI) CEO Ian Cockerill as the new CEO of Anglo Coal, as the mining giant believes Cockerill could take its coal business to the next level, similarly to the manner in which he transformed Gold Fields into a leading gold company.
Pranill Ramchander, spokesperson for Anglo, told Mineweb today that Anglo Coal was a $3,6bn revenue business with a significant growth pipeline both in South Africa and internationally. Cockerill’s primary focus would be driving the development of its coal business.
Anglo had also chosen the well-respected CEO on the grounds of his extensive experience of dealing with the South African government and local power supplier Eskom, during the country’s power problems .
“Anglo Coal is a very crucial element of Anglo American’s portfolio. We would like Ian to take the coal business to the next step of development – to further international expansion,” said Ramchander.
He said the company sought someone with leadership and strategic management capabilities to fulfill its ambition of a global company. Against this background, it believed it had found someone who could deliver on building shareholder value in Cockerill.
In addition, Anglo Coal would play a major national role in assisting South Africa with the challenges of the energy crises in the country. The gold sector CEO had an appreciation of the energy situation and experience of dealing with both government and Eskom.
A key priority in terms of Anglo Coal’s international operations, was to improve the operational and financial performance of its Australian assets, which have been lagging.
“Anglo Coal is as important as our other business units, or resources in our portfolio, but it currently stands out more due to national and global challenges around energy,” Ramchander said.
“Cockerill has an excellent track record, his appointment has been well received by people who watch the resource sector closely.”
The spokesperson said former executive chairman of the Richards Bay Coal Terminal, Kuseni Dlamini, who had been appointed as head of Anglo American South Africa, had the role of bringing cohesion across Anglo’s South African businesses.
Dlamini would look at transformation across the South African businesses and would manage relationships with the South African government and key stakeholders.
Ramchander said South Africa accounted for a “huge” 46% of Anglo’s net assets, while the company contributed to a large portion of the country’s GDP in terms of resources.
There were various key issues that needed management and Dlamini held a senior position in the company, reporting directly to Anglo American CEO Cynthia Carroll and serving on the Anglo executive committee.
Cockerill takes up his position on June 1 and Dlamini starts his new role on July 1.