DOCSLIB.ORG

Anglo American Agrees Acquisition of Oppenheimer Family's 40% Interest

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Anglo American Agrees Acquisition of Oppenheimer Family's 40% Interest CHL H OLDINGS LIMITED NEWS RELEASE 4 November 2011 Anglo American agrees acquisition of Oppenheimer family’s 40% interest in De Beers for US$ 5.1 billion Anglo American plc (“Anglo American”) and CHL Holdings Limited (“CHL”) announce their agreement for Anglo American to acquire an incremental interest in De Beers, increasing Anglo American’s current 45% shareholding in the world’s leading diamond company to up to 85%. Anglo American has entered into an agreement with CHL and Centhold International Limited (“CIL”), together representing the Oppenheimer family interests (“CHL Group”), to acquire their 40% interest in DB Investments and De Beers sa (“De Beers”) for a total cash consideration of US$5.1 billion, subject to adjustment as provided for in the agreement. Under the terms of the existing shareholders’ agreement between Anglo American, CHL and the Government of the Republic of Botswana (GRB), the GRB has pre-emption rights in respect of the CHL Group’s interest in De Beers, enabling it to participate in the transaction and to increase its interest in De Beers, on a pro rata basis, to up to 25%. In the event that the GRB exercises its pre- emption rights in full, Anglo American, under the proposed transaction, would acquire an incremental 30% interest in De Beers, taking its total interest to 75%, and the consideration payable by Anglo American to the CHL Group would be reduced proportionately. Anglo American has a deep knowledge and understanding of De Beers and an appreciation for the unique nature of diamonds, having been the company’s largest shareholder since De Beers became a private company in 2001 and as a longstanding shareholder in De Beers prior to that. De Beers’ geographically diverse portfolio comprises large scale, low cost mining assets with proven distribution, sales and marketing capabilities and further potential from its leading pipeline of greenfield and brownfield projects and an expanding consumer-facing footprint. Anglo American is well positioned to enhance the value of De Beers through its expertise and scale in such areas as technical, supply chain and financial management functions as part of a simplified and more integrated ownership structure. Cynthia Carroll, Chief Executive of Anglo American, said: “This transaction is a unique opportunity for Anglo American to consolidate control of the world’s leading diamond company – De Beers. Today’s announcement marks our commitment to an industry with highly attractive long term supply and demand fundamentals. Underpinned by the security of supply offered by a new 10-year sales agreement with our partner, the Government of the Republic of Botswana, this forms a compelling proposition. De Beers’ management team has led the business successfully through the financial crisis and into a stable position and it is now well placed for the future, with improving performance throughout 2011. I believe that the benefits brought by Anglo American’s scale, technical, operational and exploration expertise and financial resources, combined with the unquestionable leadership of De Beers’ business and iconic brand will enable De Beers to enhance its position across the diamond pipeline and capture the potential presented by a rapidly evolving diamond market.” Nicky Oppenheimer, representing the Oppenheimer family interests, said: “This has been a momentous and difficult decision as my family has been in the diamond industry for more than 100 years and part of De Beers for over 80 years. After careful and deliberate consideration of the offer, and what is in the best interests of the family, we unanimously agreed to accept Anglo American’s offer. Anglo American is the natural home for our stake as they have been major shareholders in De Beers since 1926 and have a deep knowledge of the diamond business. I Anglo American plc 20 Carlton House Terrace London SW1Y 5AN United Kingdom am certain that Anglo American will provide strong support to Philippe Mellier and the De Beers management team.” The Minister of Minerals, Energy, and Water Resources, Dr. Ponatshego H Kedikilwe, on behalf of the Republic of Botswana said: “The diamond industry is a major contributor to our economy in Botswana. We are grateful to the Oppenheimer family for their vision and contribution to the diamond industry and to Botswana and we will proudly take forward that legacy with Anglo American. We look forward to building on the excellent relationship we have with Anglo American, both through our ownership of De Beers and through the Debswana joint venture.” Sir John Parker, Chairman of Anglo American, added: “The purchase of an incremental interest in De Beers is fully aligned with the Board’s strategic priorities. The value created in De Beers and the diamond industry by the Oppenheimer family over the past century has been a remarkable achievement. We look forward to increasing our involvement in the business and building strong links and relationships with De Beers’ Sightholders and partners.” Safety and sustainable development are key value drivers for Anglo American, with its pioneering health and enterprise development programmes in South Africa, for example, widely recognised by industry and government. Anglo American looks forward to working more closely with governments through De Beers’ joint venture partnerships in Botswana and Namibia and with De Beers’ BEE partners in South Africa to share expertise and tailor programmes to employees and the wider communities as may be appropriate. The transaction is expected to be accretive to underlying earnings before depreciation and amortisation on fair value adjustments in the year of acquisition. The transaction does not alter the existing arrangements for the management of De Beers, including Mr N F Oppenheimer’s position as chairman, prior to completion. Mr P Mellier will continue as CEO of De Beers. In view of the fact that CHL and CIL are ultimately controlled through intermediary companies by trusts of which Mr N F Oppenheimer is a potential discretionary beneficiary and Mr N F Oppenheimer has been a director of Anglo American within the last 12 months, the proposed acquisition is categorised as a related party transaction under the terms of the Listing Rules and therefore requires Anglo American shareholder approval. A circular to Anglo American shareholders convening a General Meeting of Anglo American shareholders for the purposes of seeking such approval, in accordance with the requirements of the Listing Rules, will be sent to shareholders in due course. The transaction is also subject to regulatory and government approvals and required third party consents (if any) and is expected to close in the second half of 2012. Additional information: This announcement is available on the Anglo American website www.angloamerican.com , together with Anglo American’s slide presentation to investors, a fact sheet on De Beers, in addition to the pre-existing information available on De Beers. Anglo American is one of the world’s largest mining companies, is headquartered in the UK and listed on the London and Johannesburg stock exchanges. Anglo American’s portfolio of mining businesses spans bulk commodities – iron ore and manganese, metallurgical coal and thermal coal; base metals – copper and nickel; and precious metals and minerals – in which it is a global leader in both platinum and diamonds. Anglo American is committed to the highest standards of safety and responsibility across all its businesses and geographies and to making a sustainable difference in the development of the communities around its operations. The company’s mining operations and extensive pipeline of growth projects are located in southern Africa, South America, Australia, North America and Asia. www.angloamerican.com De Beers , established in 1888, is the world’s leading diamond company with unrivalled expertise in the exploration, mining and marketing of diamonds. Together with its joint venture partners, De Beers operates in more than 20 countries employing more than 16,000 people, and is the world’s leading diamond producer with mining operations across Botswana, Namibia, South Africa and Canada. As at 30 June 2011, De Beers had gross assets of US$8.2 billion and reported EBITDA of US$1.2 billion for the six months to 30 June 2011. For the twelve months to 31 December 2010, De Beers reported profit before tax of US$863 million. As part of De Beers’ operating philosophy, the people of De Beers are committed to Living up to Diamonds by making a lasting contribution to the communities in which they live and work. In the countries in which De Beers has mining operations, this means carrying out profitable business, whilst at the same time helping Governments achieve their aspirations of turning natural resources into shared national wealth. De Beers encourages sustainable working to ensure long-term positive development for Africa, and returns more than US$3.0 billion to the continent every year. www.debeersgroup.com The CHL group holds a 40% interest in De Beers (including certain shareholder loans which at 31 October 2011 amounted to US$265 million). Central Management Services Limited (“CMSL”), a fellow subsidiary of CHL, was appointed under a management contract dated January 2002 (“the Management Contract”) to assist in the appointment of directors, senior executives and management. Under the Management Contract, CMSL also contributes to the strategic development of De Beers and to general marketing initiatives and relationships with key customers and suppliers. The Management Contract will terminate automatically on completion of the transaction. The CHL group is ultimately controlled, through intermediary companies, by trusts (the “Oppenheimer Trusts”) of which Mr N F Oppenheimer is a potential discretionary beneficiary. The Oppenheimer Trusts also have an indirect interest, through E Oppenheimer & Son International Limited (“EOSIL”), in 25.2 million ordinary shares of Anglo American. In accordance with the Listing Rules, EOSIL has undertaken to procure that such shares are not voted on the resolution to be proposed at the General Meeting of Anglo American to be convened for the purposes of approving the transaction.
Load more

Recommended publications
  • Anglo American AGM Transcript
    ANGLO AMERICAN AGM 21st APRIL 2011 SIR JOHN PARKER: Well a very good morning ladies and gentlemen and welcome to the Anglo American AGM and especially to those of you who may have travelled some distance to be with us. Before we start the meeting properly, I need to give you some safety information. Please listen carefully to the following emergency instructions, look for your nearest marked fire exit now. In the unlikely event of an emergency during the AGM, a warning sign will be given and an announcement will be made over the public address system and if an immediate evacuation is necessary, trained staff in highly visible jackets, will be available to assist you. You should leave the building by the nearest available fire exit stairs, as in an emergency you will not be able to use the passenger lifts. Make your way to the assembly point which is across the road and near the column outside Westminster Abbey, opposite the front of this conference centre’s main entrance. Anyone requiring special evacuation assistance because of impaired mobility should make themselves known to one of the marshals if they haven’t already done so. Thank you. Notice of this meeting was sent to shareholders on the 21st March 2011 and a quorum is present and I therefore declare this meeting duly constituted. The Notice convening the meeting has been in your hands for the prescribed period and I propose that it be taken as read. Is this agreed? Thank you. In accordance with best practice, we’re going to hold a poll on each resolution and you should have been given a handset at registration for the purpose of voting your shares.
    [Show full text]
  • Report on Anglo American's Track Record
    By Philip Mattera For more information on Anglo American’s track record or the proposed Pebble mine, go to www.eyeonpebblemine.org. Cover photo: Iduapriem Mine Courtesy of Jamie Keen, Mining Watch Canada COMMUNITY, WORKER SAFETY, PUBLIC HEALTH, AND ENVIRONMENTAL PROBLEMS AT ANGLO AMERICAN MINING OPERATIONS By Philip Mattera July 2008 Philip Mattera is a veteran corporate researcher who works with a variety of public interest groups and labor unions. Earlier in his career he was a reporter-researcher for a major business magazine. He is the author of four books—including World Class Business: A Guide to the 100 Most Powerful Global Corporations—and is a member of the National Writers Union. He can be reached at: [email protected]. © 2008 Philip Mattera The following organizations - representing Alaska Native corporations, commercial fishing companies, sportsmen, conservation interests, and businesses - are committed to the protection of the Bristol Bay watershed and the tremendous salmon fishery that it sustains. This report was commissioned by these organizations to gain a better understanding of Anglo American’s corporate history and track record. While the organizations commissioned this research, they are not responsible for its content, which is the sole responsibility of the author. Nunamta Aulukestai (Caretakers of Our Land) Renewable Resources Coalition Table of Contents Executive Summary . 4 Introduction ............................................................................ 5 A Short History of Anglo American........................................................... 6 Key Financials . 7 Anglo American’s Record on Environmental Protection, Worker Safety, Community Impacts and Human Rights at Its Hardrock Mining Operations:........................................... 8 1. Sulfur dioxide emissions and spills at platinum mines in South Africa.................................. 8 2.
    [Show full text]
  • NUM Throws Full Weight Behind Anglo Silicosis Claimants
    NUM throws full weight behind Anglo silicosis claimants By: Martin Creamer 13th May 2011 South Africa’s National Union of Mineworkers (NUM) has thrown its full weight behind silicosis sufferers’ claims against diversified mining major Anglo American. While the NUM is again angered by a 27% increase in mine fatalities in the first three months of 2011, it says that the number of deaths from respiratory disease are even greater than those from mining accidents. Anglo American South Africa is the defendant in a litigation case brought by law firm Richard Meeran & Co against Anglo American plc on behalf of 18 former AngloGold employees. The NUM has resolved to support every mine-worker and ex-mine worker who is attempting to seek recourse against mining companies, including the effort of the AngloGold 18 against Anglo American, and it will do so on its own terms, and not necessarily on the terms of the lawyers representing the claimants. Thousands of South African miners have contracted silicosis and silicotuberculosis in the last 100 years of mining and the Mine Health and Safety Council has launched a series of roadshows to increase awareness of silicosis, an incurable occupational lung disease caused by the inhalation of crystalline silica dust, and marked by lesions in the upper lobes of the lungs. Both Anglo chair Sir John Parker and Anglo CEO Cynthia Carroll announced in their introductory remarks at last month’s annual general meeting in London that the company would assist former miners in South Africa who are ill with silicosis and silicotuberculosis and who are suing the company.
    [Show full text]
  • Harmony and Discord in South African Foreign Policy Making
    Composers, conductors and players: Harmony and discord in South African foreign policy making TIM HUGHES KONRAD-ADENAUER-STIFTUNG • OCCASIONAL PAPERS • JOHANNESBURG • SEPTEMBER 2004 © KAS, 2004 All rights reserved While copyright in this publication as a whole is vested in the Konrad-Adenauer- Stiftung, copyright in the text rests with the individual authors, and no paper may be reproduced in whole or part without the express permission, in writing, of both authors and the publisher. It should be noted that any opinions expressed are the responsibility of the individual authors and that the Konrad-Adenauer-Stiftung does not necessarily subscribe to the opinions of contributors. ISBN: 0-620-33027-9 Published by: Konrad-Adenauer-Stiftung 60 Hume Road Dunkeld 2196 Johannesburg Republic of South Africa PO Box 1383 Houghton 2041 Johannesburg Republic of South Africa Telephone: (+27 +11) 214-2900 Telefax: (+27 +11) 214-2913/4 E-mail: [email protected] www.kas.org.za Editing, DTP and production: Tyrus Text and Design Cover design: Heather Botha Reproduction: Rapid Repro Printing: Stups Printing Foreword The process of foreign policy making in South Africa during its decade of democracy has been subject to a complex interplay of competing forces. Policy shifts of the post-apartheid period not only necessitated new visions for the future but also new structures. The creation of a value-based new identity in foreign policy needed to be accompanied by a transformation of institutions relevant for the decision-making process in foreign policy. Looking at foreign policy in the era of President Mbeki, however, it becomes obvious that Max Weber’s observation that “in a modern state the actual ruler is necessarily and unavoidably the bureaucracy, since power is exercised neither through parliamentary speeches nor monarchical enumerations but through the routines of administration”,* no longer holds in the South African context.
    [Show full text]
  • A Review of Debswana‟S Performance Pre and Post the Acquisition of De Beers Shares by Anglo American Plc
    A review of Debswana‟s performance pre and post the acquisition of De Beers shares by Anglo American plc. Khumo Mothulatshipi A research report submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, in partial fulfillment of the requirements for the degree of Master of Science in Engineering. Johannesburg, 2015 Declaration I declare that this research report is my own unaided work. Where work of other authors has been used, it has been duly acknowledged. It is being submitted for the Master of Science in Mining Engineering to the University of the Witwatersrand, Johannesburg. It has not been submitted before for any degree or examination to any other university. ………………………………………………………………. Signature …………… day of ……………………year ………………………………….. i Abstract The minerals industry has in the last decade witnessed volatility, uncertainty, complexity and ambiguity (VUCA). The diamond industry has not been immune to these challenges. These challenges coincided with the decision of the diamond mining family in 2011 to opt out of De Beers after approximately a century of being in control by selling their 40 % stake to Anglo American plc (AA) which already had 45 % stake in De Beers. This transaction increased Anglo American plc‟s stake in De Beers to 85% thus joining venture with the Government of the Republic of Botswana (GRB) under an already existing entity called Debswana. Botswana has been hailed as a beacon of success and a model African state both politically and economically mainly due to its effective management of economic proceeds generated mainly through Debswana diamonds. Something that might be seen as a possible threat to this economic stability is the merger and acquisition (M&A) between the GRB and AA.
    [Show full text]
  • Cynthia Carroll As a CEO and As an Independent Director
    Cynthia Carroll as a CEO and as an independent director ⽥辺総合法律事務所 （公益社団法⼈）会社役員育成機構 BDTI 市川佐知子 1 The World’s Most Powerful Women 2 • Born in NJ, USA, in 1956. • Graduated from SKidmore College, geology in 1978. • Master in geology Univ. of Kansas in 1982. • Joined Amoco as a petroleum geologist. • Harvard MBA with honors in 1989. • Joined Alcan Inc., based in Montreal, Canada. – Started out as business analyst. – Promoted to VP and GM of Foil Products • A foil laminating plant in KentucKy. – The president of the Foil Products division was concerned about… 3 • Experienced the potential loss of a major customer, one that accounted for fully one-third of the division’s profit. • As the managing director of Alcan’s Aughinish Almina division in Ireland in 1996, the EU’s environmental regulation and tax rules threatened Alcan’s existence. • She recalled: “You can be influenced in all sorts of ways, but if you think it’s the right thing to do- and even if you are the only person with that view- in the end, that’s what you do.” 4 • Promoted to president of Bauxite, Almina & Specialty Chemicals Group in 1998. • Promoted to president of Primary Metal Group in 2002. – Integration of Pechiney’s primary metals business – In 2006, Alcan’s Primary Metal Group accounted for $12 billion , or 75% of Alcan’s total annual turnover. • Left Alcan, joined Anglo American plc. as its chief executive. • Also become a non-executive board director of BP. – Amoco (Carroll’s first company) had merged with BP in 1998. 5 • The world’s No.
    [Show full text]
  • Another Giant Mining Fortune Represented in the Pilgrims Society (History’S Biggest Pandora’S Box!)
    ANOTHER GIANT MINING FORTUNE REPRESENTED IN THE PILGRIMS SOCIETY (HISTORY’S BIGGEST PANDORA’S BOX!) Presented October 2017 by Charles Savoie Refused coverage by Dave Janda, Greg Hunter, And dozens of “alt media” You Tube channels! Refused coverage by 24 Hour Gold, Silver Seek, And the rest of the “Ha-Ha” Parade! (Save this in your Downloads File; read in several sessions.) In April we reviewed details on James Ben Ali Haggin (1827- 1914, Episcopalian; Pilgrims Society member known as “the greatest mine owner on earth”) in “Silver Mining Kingpin Opposed Silver Money.” In August we reviewed the Guggenheim mining dynasty in “Vast Mining Fortune Represented in Pilgrims Society World Money Trust.” This item will be about the South Africa Oppenheimer mining fortune (diamonds, gold, platinum, uranium, titanium, zinc, copper, cobalt, coal, chemicals, manganese, rhodium, nickel, iron etc.) and there was a marriage in 1660 between the Guggenheims and Oppenheimers, back in the Old World. Not only that, but Jakob Oppenheimer ran a bank at Hanover, Germany, where the first Rothschild was an apprentice during 1757-1763! Samuel Oppenheimer (1630-1703) was military supplier to King Leopold I of Hungary, Croatia and Bohemia. The Guggenheims appear to have mostly died out and those still bearing that name being of lesser influence, the fortune shifting into Episcopalian hands (The Lawson-Johnstons, Episcopalians and Pilgrims Society members). I realize those releases were way longer than most metals investors are used to reading (539 pages together) but the background on Haggin, the Guggenheims and the Lawson-Johnstons is extensive, and in fact, I only provided a basic outline on both.
    [Show full text]
  • De Beers Operating and Financial Review 2011
    Operating and FINANCIAL REVIEW 2011 The Debmar Atlantic, moored kilometres 35 off the Namibiancoastline About this report This report relates to the performance of De Beers sa and is designed to be read alongside our Report to Society 2011, to be released later this year. These reports form part of our annual reporting cycle and together cover the financial and sustainability performance of the De Beers Family of Companies. Both reports adhere to Global Reporting Initiative Sustainability Reporting Guidelines and form part of our Communication on Progress to the United Nations Global Compact. www.debeersgroup.com Contents Our company Introduction from the Chairman CEO statement 02 De Beers produces and sells 04 Executive Chairman of De Beers 05 Philippe Mellier reviews approximately 35% (by value) of since 2000, Nicky Oppenheimer performance across the Group Countries in which De Beers the world’s rough diamond supply looks back on key developments in 2011. conducts exploration, mining, rough diamond sales and downstream from our mining operations in across the Family of Companies value-creating businesses. Botswana, Namibia, South Africa in 2011. and Canada. Group Exploration Production Rough diamond sales 09 In 2011, our Exploration division 10 2011 performance overviews from 15 2011 performance overviews continued to develop programmes our mining operations in Botswana, from our rough diamond sales in Angola, India, Botswana, South Namibia, South Africa and Canada, businesses: the Diamond Trading Africa and Canada. and from Element Six, our global Company and Diamdel. supermaterials business. Brands Financial highlights Governance and risk 17 2011 performance overviews from 19 Full 2011 financial results, including 23 Summary of our governance our diamond marketing and retail our consolidated income systems, including the appointment businesses: Forevermark and De statement, consolidated balance of directors, composition Beers Diamond Jewellers.
    [Show full text]
  • Focused on Delivery
    ANGLO AMERICAN PLC ANNUAL REPORT 2013 ANNUAL REPORT 2013 FOCUSED ON DELIVERY FOCUSED ON DELIVERY Other sources of information In a world where people want to build a better life for themselves and their families, but where resources are limited, Anglo American seeks to generate sustainable value from a country’s mineral resources for the You can find this report benefit of its people. and additional information about Anglo American on We will deliver an attractive and differentiated value our corporate website. proposition to our shareholders, business partners Although we have chosen not to produce and other stakeholders by having the right assets and an ‘integrated report’, technical expertise, the right people working with our we have included a comprehensive overview partners, and a commitment to responsible mining that of our non-financial performance in this report. will support us in delivering the products that make More detailed information our world work. on our sustainability performance is provided in our Sustainable We are focused on delivering our targeted returns to Development Report. shareholders while creating value for all our partners This can be found on and stakeholders. our corporate website. For more information, visit www.angloamerican.com/ reportingcentre PERFORMANCE HIGHLIGHTS CONTENTS FINANCIAL PERFORMANCE UNDERLYING Strategic report OPERATING PROFIT 02 Chairman’s statement 04 At a glance 2009 (2012: $6.3 bn) 06 Marketplace 0 0 08 Chief Executive’s statement 2010 12 Why mining matters 25 $6.6 bn 14 Our strategy
    [Show full text]
  • SO UTH AFRICA INC. the Oppenheimer Empire DAVID
    SO UTH AFRICA INC. The Oppenheimer Empire DAVID PALLISTER SARAH STEWART IAN LEPPER LOWRY PUBLISHERS MEDIA HOUSE PUBLICATIONS E116210 338 Cape Town City Libraries Contents 2 9 FEB 1988 Preface and Acknowledgements Kaapse Stadsbiblioteek Abbreviations Chronology 1 A Day Out to Carletonville 2 The Oppenheimer Dynasty 3 Early Days ISBN 0 947042 23 7 4 The Importance of Being Harry First published in South Africa in 1987 by 5 From Sharpeville to Soweto Media House Publications (Pty) Limited 6 Bringing in the Yankee Dollar Box 782395, Sandton 2146 7 The Diamond Conspiracy In association with Lowry Publishers Cc 8 The Golden Arc Box 30685, Braamfontein 2017 9 Working for Anglo 10 Playing the Black Markets © 1987 David Pailister, Sarah Stewart and Ian Lepper 11 The Lair of the Lion This book is copyright under the Berne Convention. 12 Crossing the River No reproduction without permission. All rights reserved. Appendix: Profile of the Anglo Group Notes and References Printed and bound in Great Britain by Bibliography A. Wheaton & Co. Ltd, Exeter Index To the black miners of South Africa Preface and A cknowledgements The Dutch first came to South Africa in 1652, when Jan van Riebeeck founded a small settlement at the Cape of Good Hope as a way-station to the East for the Dutch East India Company, In crossing the river I become a new man, but it was not until two centuries later that the region began to be of real interest to Europeans. In 1867 diamonds were first Different from the one I was at home. discovered there and in 1884 the first South African goldfields At home I was secure were opened.
    [Show full text]
  • State & Nation
    ISSUE 81 • DECEMBER 2017 STATE & NATION ANTONIE | DOMINY | KOK | MEYER | MOTLANTHE | SWART REVIEWS | COOVADIA | DOMINY | EGAN | RALFE | SMUTS helen.suzman.foundation Director Francis Antonie Editor-in-Chief Francis Antonie Principal Sub-editor Rafael Friedman Board of Trustees Cecily Carmona Daniel Jowell David Unterhalter Gary Ralfe Jane Evans Kalim Rajab Ken Andrew STATE Paul Galatis & Phila Zulu Richard Steyn Rosemary Smuts Temba Nolutshungu Design & Layout Alison Tomlinson Focus is published by The NATION Helen Suzman Foundation, Postnet Suite 130 Private Bag X2600 Houghton, 2041 No 2 Sherborne Road Parktown, 2193 Email: [email protected] Website: www.hsf.org.za ISSN 1680-9822 Contributors Francis Antonie Imraan Coovadia (Review) Graham Dominy + (Review) Anthony Egan (Review) Cecelia Kok Kgalema Motlanthe + (Review) Willem Meyer Gary Ralfe (Review) Rosemary Smuts (Review) Mia Swart CONTENTS Editorial 2 Francis Antonie The Spirit of Generosity: Power and Privilege in Politically Uncertain Times 5 Kgalema Motlanthe Helen Suzman Sermon 15 Francis Antonie Pulling the Wool Over Everyone’s Eyes: Reflections On South Africa and The International Criminal Court (ICC) 19 Cecelia Kok Man a Machine and Society 27 Willem Meyer Opening Pandora’s Box? On Revealing the Private Funding of Political Parties 32 Mia Swart Limitations On Liberalism: A Tale of Three Schreiners 38 Graham Dominy BOOK REVIEWS The Cowboy Capitalist: John Hays Hammond, The American West & The Jameson Raid Charles van Onselen Anthony Egan 50 A Man Of Africa : The Political Thought of Harry Oppenheimer Edited by Kalim Rajab Gary Ralfe 53 The Rise And Fall Of An African Eden Wildlife At War In Angola Brian J.
    [Show full text]
  • Diamonds and the Accumulation of De Beers, 1935-55
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Cochrane, David Troy Doctoral Thesis What’s Love Got to Do with It? Diamonds and the Accumulation of De Beers, 1935-55 Provided in Cooperation with: The Bichler & Nitzan Archives Suggested Citation: Cochrane, David Troy (2015) : What’s Love Got to Do with It? Diamonds and the Accumulation of De Beers, 1935-55, The Bichler and Nitzan Archives, Toronto, http://bnarchives.yorku.ca/469/ This Version is available at: http://hdl.handle.net/10419/157995 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz
    [Show full text]