Anglo committed to SA ‘despite challenges’

2013-04-22 09:24

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Mining company Anglo American remains committed to South Africa in spite of various challenges in the industry.

CEO Mark Cutifani was speaking to shareholders in London, and moved to allay fears that the mining giant would withdraw from South Africa, Business Day reported today.

“Our share price is languishing compared to our peers, and we are not being rewarded for the potential we have,” said Cutifani.

“In that context, let me say that I recognise that South Africa remains critical to our shareholder value proposition. Likewise, we remain important to South Africa’s longer-term development prospects.”

According to the report, Mineral Resources Minister Susan Shabangu warned that the mining company belonged to South Africa at an event marking Cutifani’s departure at AngloGold Ashanti last month.

“Mark, this Anglo American plc, it’s ours. It’s a South African company,” she reportedly told him.

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