Anglo American PLC

Anvil Mining logo
Anvil Mining
August 21, 2016
Lundin Mining logo
Lundin Mining
August 17, 2016

Anglo American PLC

Anglo American logo
  • Year Founded: 1917
  • Key Founding Individuals: Sir Ernest Oppenheimer
  • Key Executives: Sir John Parker, Chairman of the Board; Mark Cutifani, CEO
  • Mined Resources: Gold, iron ore, copper, nickel, niobium, phosphates, platinum and diamonds
  • Operational Regions: Africa, Australasia, Asia, Europe, South America, and North America

Anglo American PLC is a multinational mining company and the biggest producer of platinum in the world. The company is responsible for around 40% of the global platinum output and is also a major producer of diamonds, nickel, copper, iron ore, and thermal and metallurgical coal. Anglo American is headquartered in Johannesburg and London, and has operational bases around the globe in Africa, Australasia, Asia, Europe, South America, and North America. The company is listed on the Johannesburg Stock Exchange as well as the London Stock Exchange.

History

Anglo American PLC was originally a gold mining company. The £1 million that funded the launch of the company was raised by sources in the United Kingdom and the United States. In 1926, Anglo American PLC became a majority shareholder in De Beers Company, the leading diamond company in the world. In 1945, Anglo American PLC acquired Coal Estates and entered into the coal sector. During the 1940s and 1950s, Anglo American PLC concentrated on the goldfields of the Free State and the mines in Vaal Reefs. The mining was so successfully operated that the company became the top gold-mining company in the world.

In the 1960s Anglo American PLC expanded operations outside of South Africa when becoming a major investor in the Canadian company Hudson Bay Mining and Smelting Company and acquiring Scaw Metals. The company then went on to developing and launching several other ventures like Amgold, Amcoal and Mondi Group, a timber, pulp, and paper company. In 1999, Anglo American PLC merged with Minorco, and in 2002 the company acquired Tarmac, a building material supply company and the Australian coal assets of Shell Petroleum Company. In 2002, Anglo American PLC acquired Disputada, a copper mining operation in Chile, and in 2003 a major share in Kumba Resources, an iron ore company.

Company Mission and Vision

While Anglo American PLC has always aimed at generating excellent returns for shareholders, it is also vital to the company to make a genuine and sustainable contribution to society. This is achieved by forming mutually beneficial partnerships. The company vision is, ‘Partners in the future’, and the mission is, ‘Together we create sustainable value that makes a real difference’. The company’s core values include innovation, safety, accountability, respect, care, collaboration, and integrity.

Founder and Management

Anglo American PLC was founded in 1917 by Sir Ernest Oppenheimer in collaboration with J.P. Morgan & Co. After Sir Ernest passed away in 1957, he was succeeded by his son, Harry Oppenheimer. Harry also took the role of Chairman of De Beers Company and retired in 1982, after which Gavin Relly took his place.