DAVID SHAPIRO: The perfect, unfolding storm that cut Anglo to size
For veterans like me it’s a sad reminder of who we once were
I recall standing next to my father on the floor of the JSE in Hollard Street, shortly after I joined in 1972, examining the gold boards, which, at the time, dominated trading on the market. My father turned to me, shook his head and then thoughtfully warned that in 30 years all these names will have vanished.
His experience and understanding of the industry sent a shiver down my spine. I couldn’t imagine the JSE without East Driefontein, Kloof, Vaal Reefs and many other noble names that we bought and sold daily on behalf of private clients, institutions and our counterparts in London, Paris, Zurich and New York. Each mine was an ecosystem, not only supporting the operation’s extensive workforce but also the nearby concession store, clinic, school, garage and country club. The gold mining industry was the lifeblood of our economy and the driving force behind the JSE’s international success...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.