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Send  Print  Share  RSS  Twitter  19 Jul 2009

Anglo American: From Predator to Prey

 
The tide has turned on the mighty, writes Jim Jones. Anglo American can never be said to have been opposed to empowerment of the previously disadvantaged.


It has pragmatically sold important stakes in companies in which it has been invested and facilitated payment for them by smaller but politically well-connected purchasers. Benevolence tied to self-interest.

Anglo understood that its survival lay in ensuring that at least some of the previously disadvantaged had to be enriched to ensure a potentially malevolent government’s hand was stayed.
Before we get carried away, this was back in 1963 when Anglo and De Beers chairman Harry Oppenheimer was determined to curtail Afrikaner mining’s entry into the closely controlled diamond industry.
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