Interview
In conversation with Mark Cutifani, Advisor and former Chairman of Vale
Mark Cutifani is one of the most influential and respected figures in the global mining industry, known for his bold leadership, deep operational acumen and unwavering commitment to safety, innovation and sustainability. Over a career spanning more than four decades, he has reshaped the strategic direction of some of the world’s most prominent mining companies, including his tenure as Chief Executive of AngloGold Ashanti (2007–2013) and Anglo American from 2013 to 2022.
Born in Wollongong, Australia, and trained as a mining engineer, Cutifani began his career at the coalface, literally working underground while completing his degree. Rising through the ranks of companies such as Western Mining Corporation and Vale, he brought technical rigour and financial discipline to increasingly senior roles. As CEO of AngloGold Ashanti, he dismantled a legacy hedge book and rebuilt a safety-first culture. At Anglo American, he led one of the most ambitious corporate turnarounds in modern mining history streamlining the company’s portfolio, doubling productivity, reducing operating costs and setting the foundation for a low-carbon future.
Following his executive roles, Cutifani chaired Vale’s Energy Transition Metals division, guiding its spin-off and governance milestones before stepping down in July 2025. He continues to shape the future of industry and sustainability serving as Senior Independent Director at Laing O’Rourke, Non-Executive Director at TotalEnergies, Chair of the Power of Nutrition, co-founder and NED of the Development Partner Institute, advisor in the mining-tech sector and founding member of the Hydrogen Council. Most recently, Codelco’s board appointed Cutifani to chair the independent evaluation of the devastating El Teniente incident in Chile.
Cutifani is widely respected for his ability to lead through volatility and deliver strategic clarity in capital-intensive, high-risk industries. As he now steps down as Chairman of Vale Base Metals’ Energy Transition Board, we are curious to find out: what’s next on his agenda?
As the mining industry pivots to support the energy transition, what commodities, technologies and partnerships should executives be prioritising over the next 5 to 10 years?
I think the list of critical minerals will keep growing as global growth and the rise of the middle class, will broaden the list of critical minerals to go beyond copper, cobalt, nickel, lithium and rare earths. People forget steel is the most important metal in the energy transition, with metallurgical coking being another key input in the steel equation. Other metals reflecting different demand trends also deserve attention.
In terms of technologies, anything that can help reduce water, energy and physical footprints will be valued by society, as reducing these “physical footprints” is both an economic and environmental imperative.
You’ve described mining as the most important industry when it comes to the environment, a view that certainly challenges widespread perceptions. Vale’s impressive reforestation efforts in Brazil, including its pledge to restore and protect 500,000 hectares of native forest by 2030, are a strong example of this in action. In what ways can mining companies like Vale be agents of environmental regeneration and not just mitigation?
The products of mining provide the raw materials that make physical assets, making life as we know it possible. For example, fertilisers from mining help feed 8 billion people – without them, we’d need 10-20 percent more land to feed the global population.
Mining also enables urbanisation, reducing the global human footprint by at least 10 percent. Overall, mining helps reduce our footprint by an order of 30 percent, while using just 0.3 percent of land for physical mining. Additionally, as seen with Vale, mining companies can further contribute to the protection of biodiversity and natural environments on the land they manage.
As you step back from executive roles, you continue to play a key role in global dialogue, including your involvement with the Global Foundation and the upcoming Carajás Roundtable convening ahead of COP30 in Brazil. Do you see this as a move toward a more active or even activist role in shaping community-led development and climate solutions beyond the mining sector?
I have no doubt these dialogues are the key to finding a balance between progressive global development and protection of our natural environments. Consistent with that dialogue, engaging with local communities in how mines are shaped as partners in local development is a great opportunity to make a contribution that goes well beyond the traditional mine gate.
What do you believe are the most practical and commercially viable pathways for industries operating in or near the Amazon to both preserve biodiversity and deliver inclusive growth?
The Vale case study is a great example of how companies can nurture natural environments as part of and adjacent to their businesses. How we partner with local communities must be a give and take process. At Quellaveco in Peru, our Community Roundtable was the key in aligning our development strategy for the business. The result, an engaged and supportive community and the first major copper developed in the Andes, delivering ahead of time and below cost, despite COVID.
Throughout your leadership journey, whether at Anglo American, AngloGold Ashanti, or Vale, you’ve made some bold strategic calls. To what extent has independent strategic advice or external counsel played a role in shaping those decisions and how do you determine who to trust in high-stakes environments?
I think the canvassing of different views from different stakeholders helps shape your understanding of key issues and drivers of community and other partner behaviours. Analysing the issues and grasping the underlying causes of those behaviours are key and people familiar with the “inside stories” provide perspectives we might not otherwise recognise.
Experience and insight are key to interpreting behaviours and putting our best foot forward, with continuous learning, monitoring and adjustment being just as critical. No one has all the answers, and we all have lessons we can take to improve decisions - intellectual curiosity and openness to feedback really matters.
You are familiar with Deheza’s work. From your perspective, what stands out most about the company and its approach?
Subject matter experts, sensitivity to the critical issues (both ways) and the skills to message and advise in dynamic situations are skills that differentiate a view, versus really useful advice.
Looking ahead, how do you see your trajectory over the next few years? What does the next chapter hold for you?
On the basis I stay healthy, and I always need to do a little bit more to keep fit and be healthy – I have no intention to retire. I just get to be a little more selective to work with people and companies I like and respect. I find satisfaction in being part of something substantially positive. Between the work and meeting wonderful people, I leave myself lots of room to keep doing different and interesting things.
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