MINING CHARTER
MARK CUTIFANI: Lasting solution to feud over mine ownership lies in talks, not courts
Anglo pledges to work with new leadership to find answers, avert job losses and attract investment. Read an edited version of Cutifani's remarks delivered at the group’s annual media event
When reflecting on Anglo American’s centenary, one of the key points of the last few decades has been the company’s role in supporting transformation in SA. Many may recall that in 1987 Anglo represented about 61% of the JSE. Today we represent about 6%. Some would say: "What a disaster, the company has shrunk by 90%." I would say exactly the opposite. Anglo American has been the most transforming company across all industries: Mondi, FNB, SAB were all part of the Anglo story in one form or another. As we restructured and floated those businesses, each did its own transformation deals, creating and sharing wealth. When you look at mining, the transformation story is even stronger. Exxaro, JCI, African Rainbow Minerals, Royal Bafokeng Platinum, Shanduka, Harmony, AngloGold — many black-owned and managed — all came from Anglo. So, when we talk transformation we should acknowledge the origin and contribution of these companies. But we must acknowledge that we still have a long way to g...
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