By: Creamer media

"Anglo American is investing, growing and standing with South Africa, the country where we began more than a century ago. That does not sound like leaving," it asserts in response to reports that a South African coalition submitted a petition to the country's Parliament calling for, among others, oversight of the proposed merger and the restructuring of the group.

"Anglo American is aware of disinformation circulating online from a few special interest groups that makes the false claim that Anglo American is somehow leaving South Africa. Such claims are irresponsible and untrue. Our proudly South African operations led by our world-class Kumba Iron Ore and De Beers businesses are substantial contributors to the economy and host communities as they have been for many years; and are properly governed by South African law and regulation.

"Our substantial Johannesburg corporate office continues to support both our widespread interests in South Africa and our wider global business, including through technical, finance and shared-services teams, among others. Anglo American’s total tax and economic contribution to South Africa in 2024 amounted to R111-billion.

"Our single largest business in South Africa, Kumba Iron Ore, listed on the JSE and valued at R108-billion, continues to play a major role in South Africa’s fiscal and social economy. In 2024 alone, Kumba generated total shared value for all stakeholders amounting to R57-billion, including taxes, royalties, black economic empowerment procurement and shareholders, encompassing empowerment partners including the Industrial Development Corporation (IDC), the Public Investment Corporation, Exxaro Resources, Kumba employees and the Sishen Iron Ore Company Community Development Trust.," Anglo American points out in a November 26 statement.

Further, it says the merged Anglo Teck will form "one of the world’s leading critical minerals companies, a larger, stronger and more financially resilient company, even better positioned to invest in South Africa’s, and Southern Africa’s, mining future".

Anglo American notes that, alongside its committed investments in the country, which include the more than R11-billion ultrahigh dense media separation project at Kumba's Sishen mine, in the Northern Cape, it will also contribute R600-million to the Junior Mining Exploration Fund established by the Department of Mineral and Petroleum Resources and the IDC.

It adds that Anglo Teck also plans to support the development of a global critical minerals institute involving institutions from the world’s great mining countries, including South Africa, and that the merged entity will continue Anglo American’s listing on the JSE as a much larger global company, providing direct investment access for its substantial shareholder base in South Africa.

Further, Anglo American states that all mining rights that relate to its businesses in South Africa are in South African companies that are subject to tax and regulation in South Africa.

"Claims of 'capital flight' ignore 25 years of transparent, regulator-approved restructuring where assets remain in South Africa under South African owners such as Thungela, Seriti, African Rainbow Minerals and Valterra – great South African success stories," it says.

It also points out that Anglo American has been UK-domiciled and primarily listed in London since 1999, stressing that that will not change under the proposed merger with Teck.