Category Archives: Commodities in Africa

Mining Company Anglo-American May Be Pressured to Create a Separate South African Company

anglo-american-logo   South Africa, through their own Public Investment Corp. (PIC), may want to break up Anglo-American (NGLOY|OTC MARKETS; AAUKF|OTC MARKETS), a large mining conglomerate, in order to create a more nationally-oriented (and controlled?) mining company:

“London and Johannesburg-listed Anglo American has been attempting to sell many of its operations worldwide in recent months, jettisoning coal and iron ore to concentrate on three key products, copper, the De Beers diamond business and platinum.”

“South Africa’s ruling African National Congress party is also looking for ways to boost the economy and gain public support following recent electoral setbacks… A source close to the situation pointed out that the South African government has often aired the view that it would like to see a nationally owned mining company emerge “at some point…”

Mining companies have been hit hard lately by the commodities “bust”, but there may be some investment “values” out there worth examining.

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“South Africa Wants Break-up of British Mining Company Anglo American”: