Anglo American set to expand operations in SA

CEO Mark Cutifani said the company would explore base metals across South Africa but was looking for adjustment to legislation.

A picture taken on16 January 2013 shows Anglo American Platinum mine in Rustenburg, northwest of Johannesburg. Picture: AFP

JOHANNESBURG – With unemployment a major problem in South Africa, Anglo American on Thursday said it wanted to explore for base metals in the country – expanding its operations.

But it said before this happened, the country needed regulatory changes to make it more competitive with other mining jurisdictions.

The company attended the 2020 Joburg Mining Indaba Conference.

Anglo American said policy uncertainty, insecurity of tenure and unreliable electricity supplies had stifled investment in Africa’s most industrialised economy, where the mining industry contributes around 9% to GDP.

CEO Mark Cutifani said the company would explore base metals across South Africa but was looking for adjustment to legislation.

South Africa is traditionally Anglo American’s core territory, but the diversified miner has offset some of the risk of investing in the country, notably with operations in South America.

Anglo American said its interest in base metals, which include copper, nickel, lead, and zinc, was part of its global discovery strategy.

Cutifani also said he would like their South African platinum group metals business to increase production of nickel, which can be used in battery production.

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