Anglo American

Anglo American is a leading global mining company with a rich history and a strong presence in the natural resources industry. Headquartered in London, United Kingdom, the company operates across multiple continents and is involved in the exploration, production, and processing of a wide range of minerals, metals, and other natural resources.

Founded in 1917, Anglo American has grown to become a major player in the mining sector, with a diverse portfolio of assets spanning various commodities, including diamonds, platinum, copper, iron ore, and coal. The company is committed to responsible and sustainable mining practices, placing a strong emphasis on safety, environmental stewardship, and social responsibility.

Anglo American's operations are spread across Africa, the Americas, Australia, and Europe, encompassing both open-pit and underground mining operations. The company strives to maximize the value of its resources while minimizing its environmental impact, implementing advanced technologies and innovative approaches to optimize productivity and efficiency.

As a global mining leader, Anglo American contributes significantly to the economies of the countries in which it operates, creating jobs, driving economic development, and fostering long-term partnerships with local communities. The company is dedicated to promoting diversity and inclusion within its workforce and is actively involved in initiatives that support education, healthcare, and sustainable community development.

With a commitment to delivering sustainable value, Anglo American continues to adapt and innovate in the ever-changing mining industry. By leveraging its technical expertise, operational excellence, and strategic investments, the company aims to unlock the full potential of its resources and contribute to a sustainable future for all stakeholders.

1917–1990

Sir Ernest Oppenheimer, a Jewish German émigré, founded the Anglo American Corporation in 1917 in Johannesburg, South Africa, with financial backing from the American bank J.P. Morgan & Co. and £1 million raised from UK and US sources to start the gold mining company; this fact is reflected in the company's name. The AAC became the majority stakeholder in the De Beers company in 1926, a company formerly controlled by Alfred Beit, also a Jewish German émigré.

During 1945, the AAC moved into the coal industry by acquiring Coal Estates. Twelve years later, Sir Ernest died in Johannesburg and was succeeded as head of the company by his son Harry, who also became chairman of De Beers. In the late 1940s and 1950s, the AAC focused on the development of the Free State goldfields and the Vaal Reefs mine.

In 1961, the AAC expanded outside of southern Africa for the first time and became a major investor in the Hudson Bay Mining and Smelting Company in Canada. In 1967, the company moved into the steel industry by acquiring Scaw Metals. From 1967 to 1975, it continued to grow and established a number of ventures, including the Mondi Group, Amgold, and then Amcoal. In 1982, Harry Oppenheimer retired as chairman of the AAC and was succeeded by Gavin Relly. Two years later, Oppenheimer retired from De Beers and passed the chairmanship to Julian Ogilvie Thompson, who in 1990 also became chairman and chief executive of the AAC.

1990–2010

On 24 May 1999, Anglo American Corporation merged with Minorco to form Anglo American plc, with its primary listing on the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange. Its gold mining operations were spun off into the separate AngloGold corporation, which in 2004 merged with the Ashanti Goldfields Corporation to form AngloGold Ashanti. Anglo American reduced its stake in AngloGold Ashanti to 16.6% in 2008.

In 2000, Julian Ogilvie Thompson retired as chief executive of Anglo American and was succeeded by Tony Trahar. Ogilvie Thompson also retired as chairman in 2002 and was replaced by Sir Mark Moody-Stuart. In the same year, Anglo American acquired Tarmac, a supplier of building materials, and Shell Petroleum Company's Australian coal assets. In 2001, De Beers was privatised after being a listed company for more than 70 years.

In 2002, South Africa's Mining Charter was approved, and Anglo American and other mining companies with operations in the country were mandated to transfer a percentage of their South African production to historically disadvantaged South Africans. From 2002 to July 2008 Anglo American carried out black community economic empowerment transactions totalling R26 billion. Also, in 2002, Anglo Base Metals acquired the Disputada copper operations in Chile from ExxonMobil and opened a representative office in Beijing, China. In 2003, Anglo American acquired a majority stake in iron ore producer Kumba Resources.

In 2007, Cynthia Carroll succeeded Tony Trahar, becoming the first non-South African and first female chief executive of Anglo American. The Mondi Group, a paper and packaging business, was also spun out in 2007. During the next two years, Anglo American opened a representative office in New Delhi, India, acquired control of the Michiquillay copper project in northern Peru and the MMX Minas-Rio and Amapa iron ore projects in Brazil, and later acquired stakes in the Pebble copper project in Alaska.

Anglo American was also accused in 2007 of damaging environmental practices: in order to complete its planned Alaskan Pebble Mine in collaboration with Northern Dynasty Minerals, the company considered building a massive dam at the headwaters of the world's largest sockeye salmon fishery, which it would risk obliterating. Opponents also pointed to the use of cyanide, heavy metals, and acid mine drainage which can all have potentially devastating effects on the environment of the Bristol Bay area. Opponents of the Pebble Mine created Ballot Measure 4 to impose additional water quality standards on new large-scale mines in the state. However, in August 2007, Alaskans voted against the initiative. As of September 2008, the Pebble Limited Partnership had not yet put forward a project proposal and was working to prepare a pre-feasibility study for the project in the second half of 2009. The mine proposal would still need to undergo environmental studies and the permitting process, including being subject to state and federal water protections. In December 2013, Anglo American withdrew from the Pebble Limited Partnership.

2010 to present

In early November 2011, Anglo American entered into talks with the Oppenheimer family to divest the latter's remaining shares of De Beers, whereby Anglo American acquired an additional 40% stake for $5.1 billion, increasing their overall stake to 85%. This came at a time of increased labour strikes and international attention to Oppenheimer's involvement in conflict diamonds. Anglo American then sold a 24.5% share in its Chilean copper unit, Anglo American Sur, to Japan's Mitsubishi Corporation for $5.39 billion, paid with a promissory note due on 10 November 2011. With this deal, the Anglo American Sur complex was valued at $22 billion.

In November 2012, Anglo American completed the sale of steel maker Scaw South Africa and its connected companies for a total of R3.4 billion in cash. 

In July 2014, Anglo American said it was disposing of its 50% shareholding in Lafarge Tarmac, a building materials joint venture, to cement maker Lafarge SA for a value of not less than £885 million; the sale was subsequently completed in July 2015 for $1.6 billion. In October 2014, Anglo American's Minas-Rio iron ore project in Brazil began operating and shipping ore.

In July 2015, Anglo American announced that it would cut 53,000 jobs and that in the first half of 2015, it had a financial loss of US$3 billion. In early December 2015, the company announced that, as part of a restructure, it would be cutting a further 85,000 mining jobs, nearly two-thirds of its work force of 135,000, worldwide. It also announced the consolidation of six of its divisions into three businesses, while dividend payouts to investors were also suspended for a year. The company also had its Dawson, Foxleigh and Callide coal mines in Central Queensland, as well as its Dartbrook coal mine in the Hunter Valley in New South Wales, put up for sale as its shares dropped to a record low on the London Stock Exchange, falling by more than 12 per cent.

In March 2017, British Indian industrialist Anil Agarwal purchased 11% of the company through his family trust Volcan. In September, he took the holding to 20% through another purchase worth about $1.5 billion. In April 2017, the company sold its Eskom-linked thermal coal operations in South Africa for $166 million, marking an important step in the mining giant's strategic overhaul to sharpen its focus on three commodities.

In October 2019, Anglo American announced a partnership with French energy company Engie to develop the world's largest hydrogen-powered mine haul truck, with testing expected to begin in 2020.

In January 2020, Anglo American made a 5.5p per share offer to buy a polyhalite fertiliser project from Sirius Minerals for £400m. In salvaging the financially troubled project, Anglo American envisages spending around £230m to keep construction going through to at least 2022. The sale was approved by shareholders in March 2020.

In April 2021, Anglo American announced the demerger of Thungela Resources, which will own a series of significant South African thermal coal assets, in order to eliminate the risk of clean-up liabilities.

In May 2022, Anglo American unveiled the world’s largest hydrogen powered mine haul truck at Mogalakwena PGM Mine in northeast South Africa. The project, which is expected to be fully implemented by 2026, is a first step in making eight of the company’s mines carbon neutral by 2030. The company has set a target of getting all of its operations to that status by 2040. President of the Republic of South Africa, Cyril Ramaphosa was present at the launch and stated, "Developing the hydrogen economy is a strategic priority for our country."

Anglo American's mission is centered around sustainable mining practices and responsible resource development. The company is dedicated to delivering lasting value for its stakeholders while upholding strong ethical standards and minimizing its environmental footprint.

At the core of Anglo American's mission is the belief that mining can positively impact societies and economies when done in a responsible and sustainable manner. The company aims to be a leader in the industry, setting new standards for safety, environmental stewardship, and social responsibility.

Anglo American's vision is to be the leading global mining company, delivering sustainable value and positively transforming the industry. The company aspires to make a lasting contribution to society, economies, and the environment through responsible and innovative mining practices.

At the heart of Anglo American's vision is the belief that mining can play a vital role in creating a better future. The company aims to be a pioneer in sustainable mining, constantly seeking innovative solutions and technologies that maximize resource efficiency, reduce environmental impact, and promote social progress.

Anglo American envisions a future where its operations are characterized by operational excellence, safety, and environmental stewardship. The company strives to set new benchmarks for responsible mining practices, continuously improving safety standards to protect its employees and communities.

Diamonds: Anglo American operates diamond mines in Botswana, Canada, and South Africa. The company is a major producer of rough diamonds and also sells polished diamonds through its De Beers Group subsidiary.

Copper: Anglo American operates copper mines in Chile, Peru, and Brazil, as well as smelters and refineries in Chile and Peru. The company is a significant producer of copper concentrate, copper cathode, and copper by-products.

Platinum Group Metals (PGMs): Anglo American is a major producer of PGMs, including platinum, palladium, and rhodium. The company operates PGM mines in South Africa and Zimbabwe, as well as processing plants and refineries in South Africa.

Iron Ore: Anglo American operates iron ore mines in Brazil and South Africa, producing iron ore for use in steelmaking.

Coal: Anglo American is a major producer of thermal and metallurgical coal, with operations in Australia, Colombia, and South Africa. The company produces both coking and thermal coal, as well as coal by-products.

Nickel: Anglo American operates nickel mines in Brazil, producing nickel concentrate for use in stainless steel and other applications.

Manganese: Anglo American produces manganese ore from mines in South Africa and Australia, used primarily in steelmaking.

Technology and Innovation: Anglo American invests in technology and innovation to improve safety, efficiency, and sustainability across its operations. The company has developed advanced technologies for mining, processing, and exploration, and partners with startups and research institutions to drive innovation.

Exploration: Anglo American conducts exploration activities in various regions around the world, seeking to identify new mineral resources and expand its resource base.

Corporate Social Responsibility: Anglo American is committed to sustainable mining practices and social responsibility. The company has initiatives to support local communities, promote education and training, and protect the environment.