I would like to point out that none of these mines are American owned even though they have cleverly and deceptively named one Anglo American. I am researching all of these African mines to provide you with more details.
Anglo American plc is a British multinational mining company headquartered in London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world output, and a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal. It has operations in Africa, Asia, Australasia, Europe, North America and South America. Anglo American has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the Johannesburg Stock Exchange.
On 4 November 2011 it was announced that Anglo American had agreed to acquire the Oppenheimer family's 40% stake in De Beers for $5.1 billion (£3.2 billion), raising its stake to 85% (with the remainder owned by the Botswana government).
Anglo American Plc. sold a 24.5 percent share in its Chilean copper unit for $5.39 billion to Japan's Mitsubishi Corporation paid with a promissory note which is due on 10 November 2011. With this deal, the Anglo American Sur complex was valued at $22 billion. Anglo American's biggest project is the Minas-Rio iron ore project in Brazil. In 2008, Anglo American (excluding De Beers) spent $212 million on exploring 21 countries for resources including copper, nickel, niobium phosphates and zinc. The two main types of exploration for the company are Greenfield and Brownfield with nearly 70% devoted to Greenfield projects. [source: wikipedia]
On 4 November 2011 it was announced that Anglo American had agreed to acquire the Oppenheimer family's 40% stake in De Beers for $5.1 billion (£3.2 billion), raising its stake to 85% (with the remainder owned by the Botswana government).
Anglo American Plc. sold a 24.5 percent share in its Chilean copper unit for $5.39 billion to Japan's Mitsubishi Corporation paid with a promissory note which is due on 10 November 2011. With this deal, the Anglo American Sur complex was valued at $22 billion. Anglo American's biggest project is the Minas-Rio iron ore project in Brazil. In 2008, Anglo American (excluding De Beers) spent $212 million on exploring 21 countries for resources including copper, nickel, niobium phosphates and zinc. The two main types of exploration for the company are Greenfield and Brownfield with nearly 70% devoted to Greenfield projects. [source: wikipedia]
Aquarius Platinum plc (LSE: AQP), (ASX: AQP), (JSE: AQP) is a Bermuda-registered and headquartered mining business.
Aquarius is quoted on the London Stock Exchange, the Australian Stock Exchange and the Johannesburg Stock Exchange.
The company was established in 1920 as the Mount Monger Gold Mining company to exploit the Kalgoorlie goldfield. In 1984 it was listed on the Australian Stock Exchange.
In 1995 it acquired Gemex Exploration & Mining Company and Randex Platinum Holdings and in 1996 it acquired Pacific Platinum so giving it control of the Kroondal Mine.
In 1998 the company entered into a strategic alliance with Impala Platinum Holdings. The company was first listed on the London Stock Exchange in that year.
In 2003 the company entered into an agreement with Anglo Platinum to pool and share certain mining interests.
In 2012, large scale mining protests across South Africa caused violent labour unrest and prompted the firm’s CEO, Stuart Murray, to resign.
The company's activities are concentrated in the Bushveld Complex in South Africa and Zimbabwe. It operates the following mines:
- Kroondal Mine, South Africa
- Marikana Mine, South Africa
- Everest Mine, South Africa
- Mimosa Mine, Zimbabwe (50% interest)
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All Africa news
written by The Herald staff
Saturday December 15, 2012
IMPALA Platinum and Aquarius yesterday signed an agreement with Government for the transfer of a 51 percent stake in platinum producer Mimosa Holdings to indigenous entities. The National Indigenisation and Economic Empowerment Fund will get a 31 percent stake, while Mimosa Holdings employees and Zvishavane communities will get 10 percent apiece.
South Africa's Implats and Aquarius owned 50 percent stake each prior to the latest agreement, but will now share equally the remaining 49 percent stake in the platinum giant.
Senior Government officials who included Defence Minister Emmerson Mnangagwa, Midlands provincial governor Jason Machaya, Chiefs Council president Chief Fortune Charumbira, former Governor for Midlands province Cephas Msipa and a number of chiefs from Zvishavane communities graced the signing ceremony in Harare.
The share purchase or sale agreement was signed by the chairman of the National Indigenisation and Economic Empowerment Board, Retired Lieutenant General Mike Nyambuya, and Mimosa Holdings chairman Mr Gerhard Potgieter.
Rtd Lieut Gen Nyambuya said the agreement affirmed the Government's long held belief that foreign interests were not mutually exclusive.
He said Government's aspirations for a mutually beneficial partnership in the exploitation of natural resources was not only desirable, but also possible.
"These efforts will finally see the majority of shares in Mimosa being owned by indigenous Zimbabweans and, consequently, immense value being disposed for the people of this country," said Rtd Lieut Gen Nyambuya.
The transaction is valued at US$550 million and South African firms have agreed to extend vendor-financing loan to the buyers for the purchase of the shareholding in Mimosa Holdings. The new shareholders will forego dividends until the loan is paid up.
Mimosa has declared US$120 million in net profit over the last five years and is projected to continue doing well. Mr Potgieter said the agreement with Government was an historic moment in the country's foreign investment.
"This is a significant event in the history of this country, the platinum industry and also in the lives of the communities, (Mimosa) employees and the shareholders," he said.
"It is a combination of the efforts of all the stakeholders, facilitated by the Government of Zimbabwe. But here today, what we witness is the biggest indigenisation value agreement signed in the history of Zimbabwe."
In terms of the Indigenisation and Economic Empowerment Act foreign owned companies are required to transfer for value at least 51 percent shareholding to indigenous entities.
Guest of honour at the signing ceremony, Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere said a compliant indigenisation plan was an instrument for the reduction and eradication of poverty.
Minister Kasukuwere said this was consistent with one of the objectives of the United Nations Millennium Development Goals.
"We are here to witness an important platinum miner finally implementing an indigenisation plan, which would see the majority of shares (51 percent) in the company being disposed to indigenous entities," said Minister Kasukuwere.
Chief Charumbira said he would organise meetings with chiefs who are the custodians of the Community Share Ownership Trusts, to impress upon them that the shares were meant to benefit communities and not individuals.
Mimosa had earlier released US$10 million towards the establishment of the Zvishavane Community Share Ownership Trust.
In pursuit of its indigenisation and empowerment policy, the Government has so far concluded seven community share trusts in mineral-rich areas across the country including Bindura, Zvishavane, Hwange, Mhondoro, Shurugwi and Marange.
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