Anglo American plc is a British multinational mining company with headquarters in London, England. It is the world's largest producer of platinum, representing approximately 40 percent of global output, as well as being a major producer of diamonds, copper, nickel, iron ore, polyhalite and steelmaking coal. The company has operations in Africa, Asia, Australia, Europe, North America and South America.[6]
Anglo American has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. The company has a secondary listing on the Johannesburg Stock Exchange.[7] In the 2020 Forbes Global 2000, Anglo American was ranked as the 274th largest public company in the world.[8]
History
1917–1990
Ernest Oppenheimer, a Jewish German émigré, founded the Anglo American Corporation (AAC) 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.[9] 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.[10]
In the late 1940s and 1950s, the AAC focused on the development of the Free State goldfields (seven major mines simultaneously) and the Vaal Reefs mine.[11]
Operations
Anglo American focuses on natural resources with six core businesses: Kumba Iron Ore, Iron Ore Brazil, coal (thermal and metallurgical), base metals (copper, nickel, niobium and phosphates), platinum, and diamonds, through De Beers, in which it owns an 85% share.[78][79] In 2024, Anglo American employed around 60,000 staff.[5]
Superconducting Quantum Interference Device
Anglo American, along with De Beers, backed the manufacturing of a superconducting quantum interference device (SQUID) to help improve the sensitivity of exploration surveys.[80] Anglo American established Boart Products South Africa Limited in 1936 (later named Boart International) to turn the company's stockpile of boart
Accusations of health impacts
Alleged lead poisoning in Zambia
In October 2020, Anglo American was accused of being responsible for lead poisoning in possibly over 100,000 people near Kabwe mine, which the company operated from 1925 - 1974.[89][90][91][92] Numerous studies since 1971 have shown that people around Kabwe mine have been poisoned by lead.[91] A 2015 study found that 100% of children tested in the area had lead in their blood exceeding CDC guidelines.[93]
Carbon footprint
For 2023, Anglo American reported Scope 1 and Scope 2 emissions of 12.5 Mt CO2e.
The company has committed to carbon neutrality in Scope 1 and 2 emissions by 2040, and 50% reductions in the Scope 3 emissions relative to a 2020 baseline.[107]
See also
- List of mining companies
- List of companies traded on the JSE
- List of companies of South Africa
- Economy of South Africa
- Mineral Policy Institute
- Extractive Industries Transparency Initiative
- International Council on Mining and Metals
- United Nations Global Compact
External links
References
- Anglo American PLC overview Companies House, 1998-05-14, retrieved 2024-01-27^
- Terms and conditions Anglo American, retrieved 2024-01-27^
- Anglo American appoints Duncan Wanblad as chief executive Financial Times, 3 November 2021, retrieved 28 July 2022