Anglo American Corporation

Anglo American plc
Company type	Public limited company
Industry	Mining
Founded	1917 in Johannesburg, South Africa
Founder	Ernest Oppenheimer
Headquarters	London, England, United Kingdom
Area served	Worldwide (Africa, Asia, Australia, Europe, North America, South America)
Products	Platinum, diamonds, copper, nickel, iron ore, polyhalite, coal
Number of employees	60,000 (2024)
Website	www.angloamerican.com

Adapted from the English Wikipedia article Anglo American Corporation, available under CC BY-SA 4.0Updated 30 November 2025

Anglo American plc is a multinational mining enterprise based in London, England. It stands as the leading global producer of platinum, responsible for approximately 40% of worldwide production, and is also a significant supplier of diamonds, copper, nickel, iron ore, polyhalite, and coal used in steelmaking. The corporation conducts operations throughout Africa, Asia, Australia, Europe, North America, and South America.

The company maintains its primary stock listing on the London Stock Exchange and is included in the FTSE 100 Index. Additionally, it holds a secondary listing on the Johannesburg Stock Exchange. In the 2020 edition of the Forbes Global 2000, Anglo American was ranked as the 274th largest publicly traded company globally.

1917–1990

The Anglo American Corporation (AAC) was established in 1917 in Johannesburg, South Africa, by Ernest Oppenheimer, a Jewish German immigrant. Financial support came from J.P. Morgan & Co. along with £1 million raised from investors in the UK and US to launch the gold mining business that inspired its name. In 1926, AAC acquired a controlling interest in De Beers, which had previously been managed by Alfred Beit, another Jewish German émigré.

During the late 1940s and into the 1950s, AAC developed the Free State goldfields and the Vaal Reefs mine. The company ventured into coal mining by purchasing Coal Estates in 1945. After Ernest's passing in 1957, leadership passed to his son Harry, who took over as head of AAC and chairman of De Beers.

AAC broadened its reach beyond southern Africa in 1961 by investing in The Hudson Bay Mining and Smelting Company. The firm entered the steel sector through the acquisition of Scaw Metals in 1967. From 1967 until 1975, AAC expanded through various initiatives including involvement with the Mondi Group (specializing in timber, pulp, and paper), Amgold (which later became AngloGold Ashanti), and Amcoal (later Anglo Coal, renamed Anglo Thermal in 2010). Harry Oppenheimer retired as AAC chairman in 1982 and was succeeded by Gavin Relly. In 1984, he relinquished his role as De Beers chairman to Julian Ogilvie Thompson, who later became AAC’s chairman and CEO in 1990.

1990–2010

On 24 May 1999, Anglo American Corporation merged with Minorco to create Anglo American plc, primarily listed on the London Stock Exchange with a secondary listing on the Johannesburg Stock Exchange. Its gold mining assets were separated into AngloGold, which subsequently merged with Ashanti Goldfields Corporation in 2004 to form AngloGold Ashanti. By 2008, Anglo American had reduced its shareholding in AngloGold Ashanti to 16.6%.

In 2000, Julian Ogilvie Thompson stepped down as CEO, succeeded by Tony Trahar, while in 2002 Mark Moody-Stuart replaced him as chairman. That same year saw Anglo American acquire building materials firm Tarmac and Shell Petroleum’s coal operations in Australia. Also in 2001, after more than seven decades as a public company, De Beers was taken private.

Following South Africa’s Mining Charter approval in 2002, Anglo American pledged to transfer a portion of its South African production assets to historically disadvantaged communities, investing R26 billion into black economic empowerment initiatives by July 2008. In that year, Anglo Base Metals acquired copper operations from ExxonMobil at Disputada de Las Condes in Chile and established a representative office in Beijing, China. The Chilean acquisition later attracted scrutiny due to discrepancies between its purchase price and ExxonMobil’s original acquisition cost from state-owned ENAMI. In 2003, Anglo American secured a controlling interest in iron ore producer Kumba Resources.

In 2007, Anglo American appointed Cynthia Carroll as its first female and non-South African CEO. The same year saw the spin-off of the paper and packaging business known as the Mondi Group. Between 2007 and 2009, Anglo American expanded further by opening an office in New Delhi, India; acquiring control over Peru’s Michiquillay copper project; securing iron ore projects MMX Minas-Rio and Amapa in Brazil; and obtaining stakes in the Pebble copper project located in Alaska.

The company encountered environmental opposition concerning its proposed Pebble Mine project in Alaska. Plans included constructing a large dam that posed risks to the world’s largest sockeye salmon fishery. Additional concerns involved potential cyanide use and acid mine drainage hazards. Efforts such as Ballot Measure 4 aimed to enforce stricter water quality regulations but were rejected by Alaskan voters in 2007. As of 2008, Pebble Limited Partnership was conducting a prefeasibility study without having submitted an official project proposal. The mine required extensive environmental assessments and permitting procedures. Ultimately, Anglo American exited the Pebble Limited Partnership in December 2013.

2010 to 2020

In November 2011, Anglo American increased its stake in De Beers by acquiring an additional 40% from the Oppenheimer family for $5.1 billion, raising its ownership to 85%. This transaction took place during a period marked by labour unrest and concerns over conflict diamonds. Shortly thereafter, Anglo American divested a 24.5% interest in its Chilean copper subsidiary, Anglo American Sur, selling it to Mitsubishi Corporation of Japan for $5.39 billion, which valued the entire operation at $22 billion.

Following discussions around the 1977 privatization of Disputada de Las Condes, Chile’s state-owned company Codelco acquired a portion of Anglo American Sur in 2012, reducing Anglo American’s holding from 75.5% to 50.1%.

In November 2012, Anglo American disposed of steel producer Scaw South Africa along with associated firms for R3.4 billion in cash.

By July 2014, Anglo American reached an agreement to sell its half stake in Lafarge Tarmac to Lafarge SA for a minimum of £885 million (approximately $1.5 billion), finalizing the transaction in July 2015 at $1.6 billion. The Minas-Rio iron ore project in Brazil commenced operations and began shipping ore in October 2014.

Confronted with declining commodity prices, Anglo American announced in July 2015 plans to cut 53,000 jobs—equivalent to 35% of its workforce—after reporting a $3 billion loss in the first half of that year. By December, the company aimed to reduce headcount by an additional 85,000 employees, representing two-thirds of its global workforce, while consolidating six business units into three and suspending dividend payments for one year. Concurrently, several Australian coal mines were listed for sale as shares reached historic lows on the London Stock Exchange.

In March 2017, industrialist Anil Agarwal acquired an initial 11% shareholding through his family trust Volcan, which he increased to 20% by September with an extra investment of $1.5 billion. In April of the same year, Anglo American sold its Eskom-linked thermal coal assets in South Africa for $166 million as part of a strategic focus on three primary commodities.

In October 2019, Anglo American collaborated with French energy company Engie and engineering firm First Mode to develop the world’s largest hydrogen-powered mine haul truck, underscoring its dedication to innovation and sustainability within mining operations.

2020 - Present

In January 2020, Anglo American proposed acquiring a polyhalite fertiliser project located in North Yorkshire, England from Sirius Minerals for £400 million at a price of 5.5p per share, with plans to invest approximately £230 million to continue development. Shareholders approved the transaction in March 2020.

In April 2021, the company announced the spin-off of Thungela Resources—which holds significant South African thermal coal assets—to reduce liabilities associated with environmental clean-up.

In May 2022, Anglo American and First Mode unveiled the world’s largest hydrogen-powered mine haul truck at the Mogalakwena PGM Mine in South Africa. This project aligns with Anglo American’s ambition to achieve carbon neutrality at eight mining sites by 2040 and eventually across all operations. The launch was endorsed by South African President Cyril Ramaphosa, who emphasized hydrogen economy development as a strategic national priority.

In April 2024, BHP submitted a £31 billion bid to acquire Anglo American; however, this offer was rejected as "highly unattractive." A subsequent revised proposal in May 2024 was also declined.

In November 2024, Peabody Energy announced plans to purchase Anglo American’s metallurgical coal assets for $3.78 billion; nevertheless, this agreement was terminated in August 2025 after a fire at Anglo’s Moranbah North coal mine constituted a material adverse change. Peabody’s efforts to renegotiate the deal were unsuccessful.

On 31 May 2025, Anglo American completed the separation of its platinum mining division under the name Valterra Platinum. Upon listing, Valterra emerged as the world’s largest platinum mining company by market value and ranked fourth globally by production volume.

Teck Resources Merger

On 9 September 2025, Anglo American and Teck Resources reached an agreement to merge on equal terms, creating the Anglo Teck group. This new entity, headquartered in Canada, emerges as a global leader in critical minerals and ranks as the second-largest copper producer worldwide. The merger provides investors with more than 70% exposure to copper. It significantly affects the adjacent Collahuasi and Quebrada Blanca copper operations, with potential for operational consolidation subject to approval from Glencore, which owns 44% of Collahuasi.

Operations

Anglo American's primary operations encompass Kumba Iron Ore, Iron Ore Brazil, thermal and metallurgical coal, base metals such as copper, nickel, niobium, and phosphates, as well as platinum and diamonds through its 85% ownership of De Beers. By 2024, the company’s workforce numbered approximately 60,000 employees.

Superconducting Quantum Interference Device

Anglo American and De Beers have supported the production of a superconducting quantum interference device (SQUID) aimed at improving the sensitivity of exploration surveys. Originally established in 1936 as Boart Products South Africa Limited (later Boart International), the company transformed low-quality diamonds into drilling tools. It pioneered the first mechanically set diamond drill bit and advanced research in cutting and abrasive technologies.

Minas-Rio Project

After delays and significant expenditures, Anglo American obtained a critical licence from the Brazilian government in December 2010 to commence development of the Minas-Rio iron ore project. The initial output was projected at 26.5 million tonnes annually, with ore transported through a 525-kilometer slurry pipeline to the Port of Açu.

In 2024, Anglo American announced an agreement with Vale to merge the Serra da Serpentina deposit with Minas-Rio. Vale invested about $150 million to acquire a 15% stake in the expanded project, retaining an option to purchase an additional 15% under specific terms.

Quellaveco Copper Mine

In July 2018, Anglo American committed $5.3 billion toward developing the Quellaveco copper mine in Peru, which it had acquired in 1992. The Japanese conglomerate Mitsubishi is financing 40% of this investment. Additionally, Anglo American allocated 650 million Peruvian soles (approximately $195 million) for community initiatives in Moquegua, the region hosting Quellaveco.

Claims of Lead Poisoning in Zambia

In October 2020, Anglo American was accused of contributing to lead poisoning affecting over 100,000 individuals living near the Kabwe mine, operated by Anglo from 1925 until 1974. Research dating back to 1971 has connected lead pollution in the area to mining activities. A study conducted in 2015 revealed that every child tested exceeded blood lead levels recommended by the CDC.

Plaintiffs argue that contamination originated from both the mine and smelting operations, resulting in widespread environmental damage and multi-generational poisoning. Anglo American denies liability, attributing responsibility to its successor ZCCM, which managed the mine following nationalization in 1974.

In 2023, a Johannesburg court rejected certification for a class action lawsuit on grounds that managing such a case was "unmanageable," given that each of roughly 140,000 claimants would need to individually demonstrate illness caused by lead exposure. This decision was appealed in November 2025.

Cerrejon Mine in Colombia

In 2013, the operators of the Cerrejón coal mine located in Colombia were accused of contributing to a rise in health issues among roughly 13,000 residents living nearby. Anglo American also faced criticism for failing to provide adequate compensation to those displaced by the mine’s expansion. A United Nations human rights expert called in September 2020 for Colombia to halt operations at the mine, citing concerns related to both environmental damage and human rights violations. Subsequently, in January 2021, the OECD initiated an inquiry into Cerrejón regarding these matters. Anglo American revealed plans in February 2021 to sell its shareholding in Cerrejón by 2024. Later, in June 2021, the company pursued legal action against the Colombian government over its obstruction of the development of the La Puente coal deposit.

Carbon footprint

For the year 2023, Anglo American disclosed combined Scope 1 and Scope 2 greenhouse gas emissions totaling 12.5 million tonnes of CO2 equivalent.

Anglo American's CO2e emissions (Scope 1 + Scope 2) in megatonnes
2014	2015	2016	2017	2018	2019	2020	2021	2022	2023
17.3	18.3	17.9	18.0	16.2	17.7	16.1	14.8	13.3	12.5

The corporation has set a goal to achieve net zero carbon emissions for Scope 1 and Scope 2 by the year 2040, alongside aiming to reduce Scope 3 emissions by half compared to levels recorded in 2020.

External links