You are currently viewing our desktop site, do you want to download our app instead?
Moneyweb Android App Moneyweb iOS App Moneyweb Mobile Web App
Join our mailing list to receive top business news every weekday morning.

Anglo CEO urges SA to upgrade rail, ports to boost mining

Mining was ‘once the bedrock of SA’s economy, and now it’s flywheel’ – Mark Cutifani.
Anglo American CEO Mark Cutifani. Image: Jason Alden, Bloomberg
 

South Africa needs to modernise its rail and ports and provide reliable electricity supplies to boost growth in mining, said Anglo American CEO Mark Cutifani.

The government must tackle unresolved issues in the mining charter and “bring stability” to Eskom, the struggling state-owned power utility, Cutifani said in a speech to reporters in Johannesburg.

Mining was “once the bedrock of the South African economy, and now it’s flywheel,“ he said. Clearing uncertainties would create an environment in which “the rich ore that sits beneath our feet can be exploited for the benefit of all South Africans, affordably and efficiently.”

Anglo, founded in Johannesburg more than a century ago, is exploring options to boost production of platinum-group metals as prices soar. Its Kumba Iron Ore is also also weighing options to extend the life of its giant Sishen iron ore mine by another 20 years from the current life of 13. The company is also spending $2 billion to build an underground operation at its Venetia diamond mine in Limpopo province.

Anglo’s platinum mining unit this year donated 270 hectares of land for housing in South Africa. Anglo is also working on a comprehensive initiative through its local businesses for further contributions to land reform, Cutifani said.

© 2019 Bloomberg L.P.

COMMENTS   1

You must be signed in to comment.

SIGN IN SIGN UP

It’s beyond their capabilities, Mr Cutifani …

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR
Moneyweb Insider INSIDERGOLD
ONLY R63pm

Subscribe for full access to all our share and unit trust data tools, our award-winning articles, and support quality journalism in the process.
Choose a yearly subscription at R630pa - SAVE R126

Get instant access to all our tools and content. Monthly subscription can be cancelled at any time.
NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: