Exclusive – Mark Cutifani CEO of $16B AngloGold Ashanti: “Major Buyers Are Finding It’s Hard To Get Physical Gold”
December 3, 2011 | By Tekoa Da Silva
I had the great pleasure this week to speak with Mark Cutifani, CEO of $16B AngloGold Ashanti, and it was an incredibly fun interview to say the least. Mark has been in the commodities business for decades, and was COO at CVRD Inco., before it became “Vale”, now valued at $119B. Given Mark’s global commodities background & network depth, his insights into the commodities & precious metals markets are razor sharp, and quite telling of the global picture.
What I thought was the most fascinating of Mark’s comments during the interview, was his observations of major gold buyers emerging from the Middle East & Asia. “People are coming directly to us,” for large gold purchases he said. “People who want tonnes of physical gold, people with serious financial muscle…because they’re finding it’s very difficult to secure the volume of gold they want…That’s something we’ve noticed over the last 18 months, and it’s been increasing in the last 6 months. I think people are finding its hard to get physical gold.”
Additionally, a major challenge facing the world going forward according to Mark, is that, “The world is short water, energy, & commodities…we’ve under-invested in our natural resources as a society…and as a consequence, we’ll see higher prices around the globe.”
This was one of the most powerful and exciting interviews I’ve had the opportunity to take part in, and I consider it a “must-listen” for gold, silver & natural resource investors.
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To get in touch with Mark or learn more about AngloGold visit: AngloGold Ashanti
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