It's wait and see for Anglo's SA assets
Miner sits tight as industry grapples with regulations and final mining charter
Anglo American CEO Mark Cutifani said the group would decide next year on what to do with its South African coal, manganese and iron ore assets, which 18 months ago were on the table to be axed. Anglo American has 25% of its asset base in South Africa and the country contributed 7% to its revenue in its 2016 annual report, according to Bloomberg data. Cutifani said Anglo would look at its South African position and speak to the government and other stakeholders about possibly consolidating some assets. "To be really frank, it's been really hard to get everyone [South Africa's leadership] to engage," Cutifani said, "but we continue to improve the business so we are very pleased with where we are." He added that the third mining charter just did not work for anyone and that the industry and the government needed to go back to the negotiating table. Urgent application Earlier this week the Chamber of Mines lodged another urgent application with the Pretoria High Court after Minister of...
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