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AngloGold Ashanti moved to fill the hole left by the departure of his general manager by bailing out a principal of his rival Barrick Gold.
AngloGold, which is listed in Johannesburg, said Barrick President Kelvin Dushnisky would join the company in September, ending research to replace Srinivasan Venkatakrishnan.
million. Venkatakrishnan announced in April that he was leaving AngloGold to join Vedanta Resources, the holding company of Indian metals magnate Anil Agarwal.
"AngloGold Ashanti has a strong badet portfolio and an exciting pipeline of opportunities for organic growth," said Mr. Dushnisky. "I am honored to have been selected for this role and I am looking forward to working alongside a world-clbad team to build on the excellent work already done, as we discover the enormous potential of the company. "
Mr. Dushnisky He joined Barrick in 2002 and is also president of Acacia Mining, the London-listed gold producer involved in a fierce conflict with the Tanzanian government.
Barrick, who is expected to report second-quarter figures Wednesday, announced that he would announce a successor to Mr. Dushnisky in due time.
Barrick's executive chairman is John Thornton, formerly a star banker at Goldman Sachs.
"On behalf of all of us. team, we would like to express our gratitude to Kelvin for his commitment to Barrick for many years, "said Thornton. His pbadion for building lasting and trust-based relationships with host governments, communities, shareholders and other partners has greatly contributed to Barrick's growth and development. We wish Kelvin great success as he takes this new opportunity with AngloGold Ashanti.
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