Anglo had said it was looking for an exit mechanism for its interest in the enormously profitable Kumba Iron Ore, its thermal coal business and its share of a manganese joint venture with South 32, but has cooled those comments after agreeing on a deal to sell its three big Eskom-tied coal mines.Cutifani said last week that a decision about the South African portfolio would be made in 2018, taking into account what happened in the leadership contest in the ANC and developments in the mining regulatory environment. This is where the temptation comes in to understand what the permutations are for Anglo and whether it is sending a veiled warning to the government that without an ethical and clean leadership structure in the governing party and without an investor-friendly regulatory environment, it will head towards the door. That’s not to say Anglo will entirely flee SA. It has a R20bn investment in the Venetia diamond mine through its 85%-held De Beers and an 80% stake in the world’s...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.