Friday 7 September 2012

Ex-BHP CFO to replace Carroll at Anglo?

Vanselow's Diamond Angle
What would Vanselow's appointment mean for De Beers? From a De Beers perspective, an Anglo American CEO from a mining company that also had a diamond portfolio can only be advantageous. He was involved in all major decisions about BHP Billiton's diamond division during the financial crisis years. He was CFO when the company adopted the unique marketing model that links the BHP Billiton rough diamond-pricing mechanism used in the long-term sightholder contracts to tender prices. He was also actively part of the decision to put the Ekati diamond mine on the market and for the company to withdraw from diamonds altogether.Again, it would be good for De Beers if Anglo American were to have a CEO who is quite familiar with both the challenges of diamond mining and of diamond marketing. There have been suggestions that Anglo American had been looking at a partial purchase of the Ekati mine and maybe, Vanselow as CEO of Anglo American, might suggest that the company takes another look at that opportunity. He would know Ekati from the inside out.

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