Anglo–Teck merger deepens fears of Anglo American’s long goodbye to South Africa
In South Africa, the Anglo-Teck merger is widely seen as the symbolic culmination of Anglo’s long, steady retreat from the country that built it.
In South Africa, the Anglo-Teck merger is widely seen as the symbolic culmination of Anglo’s long, steady retreat from the country that built it.
Anglo’s retreat from diamonds, coal, and platinum has raised concerns about the long-term future of mining investment in South Africa.
Anglo American may still operate in South Africa, but it no longer reflects South Africa, and that outcome was planned long ago.
Botswana currently holds a 15% direct stake in De Beers and supplies about 70% of the company’s annual rough-diamond output through its 50/50 joint venture, Debswana.
International campaigning groups and local activists have publicly condemned Anglo for what they call a failure of moral and legal responsibility toward affected communities.
The firm that once called itself a “nation-builder” now appears to be turning away from the nation’s unfinished project of transformation.
Anglo American has also faced criticism for allegedly failing to meet its social and economic responsibilities in South Africa.
The merger has raised concerns about Anglo American’s long-term commitment to South Africa.