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Anglo American plc is a multinational mining company based in Johannesburg, South Africa and London, United Kingdom. It is the world's largest producer of platinum, with around 40% of world output, as well as being a major producer of diamonds, copper, nickel, iron ore and metallurgical and thermal coal. The company has operations in Africa, Asia, Australasia, Europe, North America and South America.
Sir Ernest Oppenheimer founded the Anglo American Corporation 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 name of the company. 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.
During 1945, the AAC moved into the coal industry by acquiring Coal Estates. Twelve years later, Sir Ernest died in Johannesburg and the company was succeeded by his son, Harry Oppenheimer, who also became chairman of De Beers. 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. The success of the mines enabled the company to become the world’s largest gold-mining group.
The company focuses on natural resources with six core businesses: Kumba Iron Ore; Iron Ore Brazil; Coal (thermal and metallurgical); Base metals (Copper, Nickel, Niobium, Phosphates); Platinum; Diamonds, through De Beers, in which it owns an 85% share.
The paper and packaging business Mondi Group was spun out in 2007. Anglo American entered into talks in November 2011 with the Oppenheimer family to divest the remaining Oppenheimer share of De Beers, an additional 40% stake for $5.1 billion, which would increase Anglo American stake to 85%. This came at a time of increased labour strikes and international attention to Oppenheimer's involvement in blood and conflict diamonds.
Sir Ernest Oppenheimer founded the Anglo American Corporation 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 name of the company. 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.
During 1945, the AAC moved into the coal industry by acquiring Coal Estates. Twelve years later, Sir Ernest died in Johannesburg and the company was succeeded by his son, Harry Oppenheimer, who also became chairman of De Beers. 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. The success of the mines enabled the company to become the world’s largest gold-mining group.
The company focuses on natural resources with six core businesses: Kumba Iron Ore; Iron Ore Brazil; Coal (thermal and metallurgical); Base metals (Copper, Nickel, Niobium, Phosphates); Platinum; Diamonds, through De Beers, in which it owns an 85% share.
The paper and packaging business Mondi Group was spun out in 2007. Anglo American entered into talks in November 2011 with the Oppenheimer family to divest the remaining Oppenheimer share of De Beers, an additional 40% stake for $5.1 billion, which would increase Anglo American stake to 85%. This came at a time of increased labour strikes and international attention to Oppenheimer's involvement in blood and conflict diamonds.
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