I I I I
Anglo American and the Rise of Modern South Mrica
Duncan Innes
(@ MONTHLY REVIEW PRESS NEW YORK For my father, and to the . memories ofmy mother and sUiter
Copyright © 1984 by Duncan Innes All rights reserved Library ofCongress Cataloging in Publication Data Innes, Duncan. Anglo American and the rise of modern South Africa. Bihliography, p. Includes index. 1. Anglo American Corporation of.South Africa, Ltd. History. 2. South Africa-Economic conditions. 3. Mineral industries-South Africa-History. 4. South Africa-Industries_History. I. Title. HD9506. S74A534 1983 338.7'622342'0968 83-42523 ISBN 0-85345-628_3 ISBN 0-85345-629-1 (pbk.)
Monthly Review Press 155 West 23rd Street New York, N. Y. l0011 Manufactured in the United States ofAmerica 10 9 8 7 6 5 4 3 2 1 APPENDIX 2 A Survey of the Anglo American Group of Companies
INTRODUCTION This appendix lists and provides information on 656 companies in the Anglo American Croup. The list is not a fully comprehensive record, but is the most extensive public compilation of those companies involved with the Group up to the end of 1976. The appendix is divided info two parts. The first lists the most important 14 holding companies in the Group. isolating the 6 companies which form the core ofGroup structure. Information on the cross-holdings among these 6, and on some of the cross-holdings among the 14 companies, is also provided. A diagram is included. The second and major part of the appendix lists those companies which form the bulk of the Anglo American Group. Documentation is presented, for the sake of clarity, in four columns.
1 The first column provides the name of the company which forms a part of the Group. These names are presented in alphabetical categories, all the As, Bs, Cs, etc., being grouped together. The companies within each category-for example, within the As-are not placed in any order. 2 The second column provides the link with the Group: that is, the name of the holding company within the Anglo American Group, which holds An glo's interest in the company named in column 1. \Vhere more than one company is known to be involved the names are supplied. The holding arrangements within the Group structure are extremely complex and this column represents a somewhat simplified version (that is, intermediate holding companies have often been omitted). This has been done so as to be able to show as clearly as possible the links that exist between the companies mentioned in column 1 and those 14 companies which form the Group's inner circle. Thus column 2 provides the name of one of the 14 companies (regardless of whether it has a direct or indirect holding) or, if the holding is through an important holding company which is not included in the 14, then that company is named in column 2. But in this latter instance the derivation to the 14 can still be found by looking up in column 1 the name of the holding company mentioned in column 2, and thereby discovering its link with the 14. For instance, if in column 1 we have 'Barnato Bros Ltd', then column 2 will give us the name of the Anglo Group 271 Appendix 2 273 272 Appendix 2 holding company, in this case 'Jer. But 'JC~' is not 'part of the.inne~ circle well as in the other eight companies. Their holdings in the fourteen top of 14 companies and therefore in ?rder to discover Its conn~ch~~ with the companies are as follows: 14 (and thereby the connection of Barnato Bros) we look up JCI m column 1: column 2 at that point shows AAe, De Beers, Randsel-the three com I AAC holds iuterests in: De Beers, ANAMINT, AM GOLD, AMIC, AM panies in the inner core. Thus all companies presented in column 1 can COAL, AMAPROp, Charter, MINORCO, AMCAN, RHOAM, AUSTRAM ultimately be traced back to the inner 14. 2 De Beers holds interests in: AAC, Randsel, AMIC, AMAPROp, AMCAN, 3 Column 3 gives the size of the shares which the company named in colu~n RHOAM, AUSTRAM 2 holds in the company named in column 1. Sometimes, where the precise 3 Randse! holds interests in: AAC, De Beers, ANAMINT, AMGOLD, figure is not known, the terms 'Min[ority)' or 'Maj[orityr are used. Th,e AMIC, AMCOAL, AMAPROP, Charter, MINORCO, AMCAN, RHOAM, term 'majority' does not necessarily mean that an interest of 51 per cent IS AUSTRAM held, but can also imply that effective control is exercised through a hold 4 Charter holds interests in: AAC, ANAMINT, MINORCO, AM CAN, ing of less than 51 per cent. Where possible in these cases the means· RHOAM, AUSTRAM through which this control is exercised are given. 5 ANAMINT holds interest in: De Beers 4 Column 4 provides some information, where possible, on the nature of 6 MINORCO holds iuterests in: ZCI, RHOAM, AU STRAM activity of the company mentioned in column 1. These cross-holdings are represented in Figure 6. As can be seen, the big Finally, this survey was compiled from data relating mainly to Group activity four holding companies are the AAC, De Beers, Randsel and Charter, followed in 1976. While all information contained herein is known to have been accurate by ANAMINT and MINORCO and then the remaining eight. All the rest of then, a group the size ofAnglo American is constantly e~panding and changing the companies in which the Group participates throughout the world can, and the Appendix does not reflect these changes. For mstance, one company ultimately, be traced back to at least one ofthese fourteen holding companies. listed here in column 1, 'R. D. Development Ltd', has subsequently been Those remaining companies are listed below in alphabetical categories in placed in liquidation and its assets taken over by its hol~ing, companies, the column L A. A. C., Randsel and Charter (shown in column 2). Agam, Boart and Hard Metal Products' (shown in column 1 and in column 2 in various other places) has recently changed its name to 'Boart International Ltd'. Caution should therefore be exercised in using the data presented in this Appendix.
THE ANGLO AMERICAN GROUP OF COMPANIES The main holding companies in the Anglo American Group are as follows:
The Anglo American Corporation ofSouth African (AAe) De Beers Consolidated Mines (De Beers) I Charter Cousolidated (Charter) Rand Selection Corporation (Randsel) Anglo American Iuvestment Trust (ANA MINT) I Minerals and Resources Corporation (MINORCO) I Anglo American Gold Investment (AM GOLD) Anglo American Industrial Corporation (AMIC) Anglo American Coal Investment (AM COAL) Anglo American Properties (AMAPROP) Zambian Copper Investments (ZCI) Anglo American Corporation ofCauada (AMCAN) Anglo American Corporation Rhodesia (RHOAM) Australian Anglo American (AU STRAM)
Of these fourteen companies the most important are the first six: AAC, De Beers, Charter, Randsel, ANAMINT and MINORCO. These six companies form the inner core of the Anglo Group. They have holdings in each other as 274 Appendix 2 Appendix 2 275
;.. ", 0 ... Size of Nature ~ Z ~ ;.. ~ holding of ~ ~ ::: ~ 0 0> Anglo holding company (%) operation ~ 0> Name of company '"~ '" ~ Z -l Cl African & European AAC 100 Holds coal in- terests I' ~ Investments Ltd ".. Anseld Holdings Ltd AAC, Randsel 100 Holding co. ~ ~ ll, ~ Anglo American Prop- AAC 100 Holds property ""~ crty Leasing Ltd ~ Anmercosa Lands & AAC 100 Owns office w blocks used by ~ a=: Estates I, 00 ~ Group cos S- 50 Oil and gas :..'" Anmercosa Mozambi- AAC ~ que Oil Holdings prospecting '5- AAC (part of Gold Min. Supplies coal to :.. Apex Mines ~ ~ Fields Group) Highveld Steel I! '"~. Anglo American Corp. AAC 100 Holds mining 2 and industrial ~ of Central Africa [I ('l interests
Size of Nature Size of Nature holding of holding of (%) operation Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company Ayer Hitah Tin Dredg- Charter Min. Mines tin in ministers citrus iugeo. Malaysia and forest es- tates in Ansa Petroleum Be- AAC Min. Rhodesia perk Anglo American Corp. AAC Maj. Service co. to 100 Part ofthe Anglo American In- AMIC Management & Ser- the Group AMIC Greop dustrial Finance Co. vices AG Ltd cos Anglo American Corp. AAC Maj. Service co. to 100 Part of the I Anglo American In- AMIC Services the Group dustrial Investments AMIC Group Ltd cos Anglo American Gold AAC Maj. Service co. to Development Co. Ltd the Group II Acme Timber Indus- AAC Maj. tries Ltd Anglo American Inter- AAC Maj. Ii national (U K) Ltd Atkinson Oates Motors McCarthy Rodway Maj. Retail motor Ltd firm Anglo American lnter- AAC Maj. Provides ser- III national Services Ltd vices to Anglo's Anglo American (OFS) AMAPROP Maj. Provides hous- international II Housing Co. Ltd ing in OFS for division employees of associated cos Anglo American AAC Maj. Provides ser~ (Rhodesian Services) vices to Anglo's Maj. 11 Amaprop McCarthy AMAPROp, AAC Ltd Rhodesian divi- Investments Ltd sion Maj. Prospecting Anglo American Pros- AAC Anglo Botswana Ser~ AAC Maj. Provides ser- co. peeting Co. Ltd vices Ltd vices to Bots- Anglo American Pros~ AAC Maj. Prospecting co. wana division peeting Co. (South) Anglo Charter Interna- AAC Maj. Provides ser- Ltd tional Services Ltd vices to Char- Anglo American Pros- AAC Maj. Prospecting co. ter Group pecting Services Ltd Anmercosa Computer AAC Maj. Anmercosa Canadian AAC Maj. Prospecting co. Services in Canada Exploration Ltd Anmersales AG AAC Maj. AAC, AU STRAM Maj. Prospecting co. Australian Anglo Australian Anglo AAC Maj. Provides ser- in Australia American Searches American Services Ltd vices to Austra- Ltd lian division Australian Anglo AAC, AUSTRAM Maj. Prospecting co. American Ventures in Australia Blyvooruitzicht Min- AAC, AMGOLD, Char- Over Gold and Ltd iug Co. ter, Randsel (adminis- 33 uranium min- tered by Rand Mines) ing on the W. Anglo American AAC Maj. Hires rolling Rand Rhodesian De- stock to the velopment Corp. Ltd Rhodesian Rail- Buffelsfontein Mining AAC, AM GOLD, Rand- Over Gold and ways. Also ad- Co. sel (administered by 33 uranium mine General Mining) on Klerksdorp 280 Appendix 2 Appendix 2 281 1, Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation I Balgray Collieries AAC Min. Coal mine Bamangwato Conces- MINORCO Min. Owns sions Selebi-Pikwe Botswana Exploration AAC 100 Exploration copperJnickel I & Mining Co. and mining mine in Bets- Brakspruit Platinum Charter, AAC, Barlow About Involved in wana Rand 80 marketing il Baluea Mines MINORCO 13 Copper mine in platinum Zambia & 46 Mines wolfram Beralt Tin Wolfram Charter Barotseland Explora- zamanglo Exploration Prospecting co. I' Mines (Portugal) in Portugal tion Ltd in Zambia Barlow Myers Charter 49 Suppliers ofen- I Botswana RST Ltd Anglo American Bots- Min. Holds 85% of gineering wana Bomangwato equipment concessions I 100 Diamond mer- Bamato Bros JCI Boskop Areas (West AAC Min. Prospecting co. chants Wits) Ltd Barberton Iron & 100 Engineering JCI Blue Skies (Private) New Rhodesia Invest- 100 Steel Ltd co. Ltd ments AMCAN (tbrough Hud- Owns iron de- Baffinland Iron 19 Blesbok Colliery Ltd AMCOAL Maj. Coal mine, posit on Baffin son Bay Mining & subsidiary to Smelting Co.) Island AMCOAL Beaver Exploration AMCAN (througb Hud- 100 Prospecting co. Bracken Mines Ltd AAC,AMGOLD Min. Gold mine ad- son Bay Exploration & ministered out~ Development) side Group 100 Makes diamond Boart & Hard Metal AMIC Baffinland Iron Mines Hudson Bay Mining 19 Owns iron de- Products drilling crowns, Ltd posit on Baffin tungsten car- Island bide steels. Has 100 sub- Blinkpan Koolmyne AAC Min. Coal mine ad- sidiaries in 28 Beperk ministered out- different coun- side Group tries Bruynzeel Holdings AMIC 100 Holds anum- Barlow Raud Ltd AAC, Raudsel, AMIC About Formed by a Ltd ber of interests 20 merger of Rand Bruynzeel Plywoods Bruyuzeel Holdings 66.2 Manufactures Mines & Thos. Ltd veneers, ply- Barlow. Mining wood, block- and engi- board, neering clipboard. etc. Binclura Refining & RHOAM (through 100 Boart Diamond Prod- Boart & Hard Metals Maj. Boart Group Smelting Co. Rhodesia Nickel Corp.) uets Ltd manufactures Bwana M'Kubwa Min- MINORCO 49 Copper mine in and markets ingeo. Zambia various types of diamond and Appendix 2 283 282 Appendix 2 Size of Nature Size of Nature holding of holding of operation Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) tungsten car- Cons. Share Registers AAC, Randsel 66.7 bide tipped Creative Homes Ltd AAC, AMAPROP About Property de- drilling tools 50 veloper around CapeTown Boart Drilling Ltd Soart & Hard Metals Maj. as above AAC, Randse!' AMAP- About Building com- Boart & Hard Metals Maj. as above Carlton Centre Ltd Boart Drilling & Con- ROP 50 plex (shops, tracting (Rhodesia) Ltd offices) in Boart Hard Metals Ltd Soart & Hard Metals Maj. Carbide tipped J'burg drilling tools Chemical Holdings AAC 22.3 Holds chemical Soart Hard Metals Boart & Hard Metals Maj. as for Soart Ltd interests (Europe) Ltd Group Computer Sciences AAC 70.5 Supplier of Soart Hard Metals Soart & Hard Metals Maj. as for Soart (SA) Ltd computing (Canada) Ltd Group equipment Soart Products Boart & Hard Metals Maj. as for Soart Cashew Investments AAC, Randsel 100 Investment co. Rhodesia Ltd Group Ltd Boart Tools Ltd Boart & Hard Metals Maj. as for Boart Coke Producers (Pty) AAC Min. Coal producers Group Ltd selling organi- zation Boart International Boart & Hard Metals Maj. as for Boart (Luxembourg) SAM Group Cons. Diamond Mines De Beers 97.9 Owns and mines the rich- Bowater Associated In- AAC Maj. ofSW Africa est gem dia- dustries mond field in Balamundi SA Ltd SA Board Mills Converts felt the world base paper into floor coverings, Central Selling Or- De Beers Maj. Sells diamonds etc. ganization Holds property Barratts Industries Ltd AAC Min. Industrial Cons. Co. Bultfontein De Beers 58.8 group in SA Mines leased to De Beers Border Forests AAC Min. (Rhodesia) Companhio des De Beers Min. Prospecting Diamantes d'Angola and mining co. Maj. Bay Passage Invest- AMAPROP (Diamang) in Angola ments Ltd Coronation Collieries Randsel, AMCOAL 77.5 Coal mine Bryanston Hobart AMAPROP Maj. Shopping com- Shopping Centre Ltd plex in J'burg Charter France SA Charter Bahamas International AAC Maj. Finance co. Cape Asbestos Co. Ltd Charter 60.5 Trust Co. Ltd based in Ba- Cape Asbestos Fibres Charter (tbrough Cape Maj. Markets output hamas for Asbestos) of mines world invest- ment Cleveland Potash Charter 50 Potash mine in the Midlands British & Rhodesian AAC Maj. Operates on UK with lCI Discount House Ltd money market Appendix 2 285 284 Appendix 2 Size of Nature Nature Size of holding of holding of Name ofcompany Anglo holding company (%) operation Anglo holding company (%) operation Name of company 50 Provides drill· (50%). For use Christensen & Boart AMIC (through Boart & Oilfield Products Ltd Hard Metals) iog equipment in manufactur- for oil explora- iug fertilizers tion and mining Chemical sales (mostly in SA) Covenant Industries Charter 37 company AMIC (through Boart & 100 operating in Contractual Holdings East, West and (Zambia) Hard Metals) & MINORCO Central Africa (with ICI) Charter Properties RHOAM 100 Rhodesian property co. Finances in- (Pty) Ltd Charter Maj. Charter Overseas NV vestment of Clay Products (Pty) RHOAM 25 Manufactures (Cura~ao) Group outside Ltd clay products sterling area Chilanga Cement MINORCO (through 75 Produces ce- ment Charter, MINORCO 49 zambian cop- zambian Anglo Ameri- Chisangwa Mines Ltd per mine can Ind. Corp.) 66 Mineral pros- AAC, Charter (through Min. Makes cement Chartered Exploration MINORCO (through Cape Portland Cement Zamanglo Exploration) peeting co. Barlow Rand) Maj. Invests in min- Cons. Mines Holdings New Rhodesia Invest~ 100 Comer House Invest- AAC, Charter (through ing and indus- (Rhodesia) Ltd ments ment Co. Barlow Rand) try Cape Industries Ltd Charter 63.2 Manufactures building and AAC, Charter (through Min. Conning & Co. Ltd insulation, light Barlow Rand) engineering 100 Gold Mine City Deep AAC, Charter (through and other prod- Barlow Rand) ucts 100 Gold mine Cons. Main Reef AAC, Charter (through Charter Cons. Invest- Charter 100 Issuing house Barlow Rand) ments Ltd in Charter 100 Gold mine Group Crown Mines AAC, Charter (through Barlow Rand) Cardium Holdings Ltd De Beers Ind. Corp. 13.3 Owns office AAC, Charter (through 100 23 Has oil and gas Comerhouse (Pty) Ltd building of Canadian Merrill Ltd Hudson Bay Mining Barlow Rand) interests Rand Mines offices Contractual Holdings Boart & Hard Metals Maj. anti~ Markets parent JCI (part of Anglo Tvl At least Mines Computer Advances Computer Sciences 100 Cons. Murchison (Tvl) co.'s hardware Group) GCI are techni- 15 many concen- (Ply) Ltd Goldfields &De- trates and small cal advisers) Central Reserves Ltd AAC Maj. velopment Co. quantities of gold Central Reserves AAC Maj. (Rhodesia) (Private) Produces tim- JCI Maj. Ltd Conway Farm (Ply) ber Ltd Appendix 2 287 286 Appendix 2 Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation Dewhurst Farms Ltd AAC, Randsel Maj. Distribution Chemical Holdings AAC Min. Manufactures and sales co. Ltd and distributes for fresh pro- chemicals to in- duce dustry De Beers Holdings De Beers 100 Holds De Coronation Industrials Tongaat Group Maj. Makes building Beers's indus- Ltd materials trial interests, Carltoo Hotels Ltd AAC Part of Carlton mainly through Centre com- its interests in plex "De Beers Ind. Corp. C. T. Bowring & As- AAC Min. sociates Holdings (SA) De Beers Industrial AMIC, De Beers 85 Holds most of De Beers's in- Ltd Corp. dustrial inter- Cullinan Holdings Ltd AAC ests Maj. Property de- Cabana Beach De- AMAPROP Maj. Combination of velopment co. Diamond Producers' De Beers velopment Ltd South African on Natal coasts Association producers, sells CDL Properties (Dur- AMAPROP Maj. diamonds to ban) Central Selling Organization Charter Properties Ltd AMAPROP Maj. Diamond Purchasing De Beers, ANA MINT, 77.5 Buys from the Crescent De- AMAPROP Maj. & Trading CO. JCI DPA (above) velopments Ltd and Diamond Cayman International AAC Maj. Finance co. Corp. and sells Trust Co. Ltd based in Cay~ to the Diamond man Islands for Trading Co. world invest- ment Diamond Trading Co. De Beers, ANAMINT, 88 Sells diamonds JCl to retailers Compagnie Financiere AAC Finance De Beers Botswana De Beers 85 Diamond mine de Paris et des Pays- co-formed with Mining Co. (Orapa in Botswana Bas Banque de Paris et des Mine) Pays~Bas D/KI Diamond Min- De Beers 85 Diamond mine in Botswana Cape Verde Ltd AAC Min. Prospecting co. ing Co. Debhold Canada De Beers 100 Holds De Compagnie Financiere AAC Maj. General invest- ment co. Beers's inter- Eurafricaine ests in AM CAN Cello Securities Ltd Durban Roodepoort AAC, Charter (through 100 Gold mine Barlow Rand) Diamond Corp. De Beers, AAC 100 Diamond sell- Deep ing co. Markets Dryden Engineering . AAC, Charter (through 40 Manufacturing % of world's Co. Barlow Rand) and selling or- diamond pro- ganization duction 288 Appendix 2 Appendix 2 289
Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation Down Town Real Es~ ICI Property dealer panies in Ire- tate Co. and developer land De Niza Mining Co. AMCAN (through Hud- 25 I Diacarb Ltd Boar! & Hard Metals Maj. son Bay Co.) Debshan Ranches Ltd Soetvelde 100 Owns an exten- Durham Industries of AMCAN (through Hud- 100 sive cattle Canada son Bay Co.) ;! ranching opera- tion at Gwelo, Dunlop (Zambia) Ltd MlNORCO (through 25 Produces and ~I Rhodesia ZAAlC) sells tyres Soetvelde 100 Produces to- Duncan, Gilbey & MlNORCO (through 24.5 l Dawn Orchards Ltd Matheson (Zambia) Zambian Anglo Ameri- matoes, vegeta- Ltd cau Ind. Corp.) bles and fruit from the N. Delmas Ltd General Mining Colliery co. Transvaal controlled by AE&CI 100 Gen. Min. Duropenta Holdings Daggafontein Mines AAC,AMGOLD Maj. Gold mine ad- Dorsic Holdings Ltd SA Nylon Spinners 100 Ltd ministered by David Whitehead & Tongaat Group Maj. Produces tex- Anglo Sons (SA) tiles De Beers Lesotho De Beers Maj. Operates the Mining Co. Letseng-le-Te- Elsburg Gold Mining ICI, AAC, AMGOLD, W. Rand gold Randsel mine adminis- rai diamond Co. tered by mine in ICI Lesotho Epoch Investments AAC, Randsel 100 Investment co. Debhold (Canada) Ltd De Beers Holdings Maj. Interested in Ltd Canadian min- Euranglo (Pty) Ltd AAC, Randsel, Charter 100 Holds 50% of ing and pros- FrancowSA In- peets vestment Co. with Banque de De Beers European De Beers Holdings Maj. Interested in II Holdings SA Australian Paris et des Pays Bas Anglo Ameri- ;1 can EWing McDonald (Pty) Randsel De Beers Industrial De Beers Maj. The outlet for Ltd Diamond Division Ltd sale of De East Driefontein Min- Randsel Min. Gold Mine ad- Beers drilling ing Co. ministered by and boart, Gold Fields holds De Beers Elastic Rail Spike Charter Min. Produces rails patents for in- Group dustrial dia- monds Explosives (Zambia) Charter About Manufactures Ltd 50 explosives with De Beers Industrial De Beers Maj. Provides tech- ICI Diamond Division nical services to (Ireland) Ltd De Beers com- Elevators & Engl- Charter 25 Manufacturers neering Ltd 290 Appendix 2 Appendix 2 291
Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holdin~ company (%) operation East Rand Proprietary AAC, Charter (through Min. Gold mine ad- Free State Geduld Ltd AM GOLD, Randsel Min. Gold mine ad- Barlow Rand) ministered by ministered by Rand Mines AAC East Champ d'or Gold JCI Min. Gold mine ad- Forest Industries & AAC, AMIC, Randsel 70 Manufactures Mining Co. ministered by Veneers wood products. JCI Also holds Peak East Daggafontein AM GOLD Min. Gold mine ad- Timbers ministered by Finsh Diamonds (Pty) De Beers Maj. Diamond min- AAC Ltd iug co. Elgin Metal Products AAC, Charter (through 78 Produces Ferranti Ltd Charter 12.5 Large UK COill- Barlow Rand) stainless steel pany ware for do- Shipping co. mestic use Freight Service Hold- AAC, Charter (through 77.2 iogs Barlow Rand) and Engelhard Hanovia AAC, Randsel, Charter 70.1 Holds all En- AMIC Inc. (through HD De- gelhard Group 100 Gold mine velopment) interests in- Ferreira Mines Ltd AAC, Charter (through eluding gold Barlow Rand) refining and Flourescent Lighting JCI ICI also partici- trading cos pates in man- agement of co. Engelhard Minerals & AAC, Randsel, Charter 66 Refines, fabri- Chemicals Ltd (through Engelhard cates and mar- Free State De- JCI Finance and Hanovia) kets precious velopment & Invest- exploration co. metals, espe- ment Co. cially platinum Francana De- AMCAN 40 Holds Cana- in the US velopment dian interests, Engelhard Industries AAC, Randsel, Charter Maj. Holds indus- including 30% Ltd (through Engelhard trial interests of of Hudcan De- Hanovia) Group velopment Engelhard Hanovia of AAC, Randsel, Charter Maj. Holds Group's Francana Oil & Gas AM CAN (through Hud- 60 Oil and gas ex- SA Ltd (through Engelhard SA interests son Bay) ploration and Hanovia) development co. Eastern Forest Estate RHOAM 100 Produces tim- Ltd ber Francana Minerals AMCAN (through Hud- 100 Produces soda son Bay) sulphates and Ellaton Gold Mining AAC Min. Mining finance Co. Ltd co. zinc 12 Building soci- Eastern Transvaal AAC Maj. Founders Building so- RHOAM Timber Co. ciety ety Copper mining Exchange Buildings AMAPROP Maj. Fitwaolo Mining Co. ZC1 Ltd prospect Egret Investments Ltd Fibre Spinners & Ropes & Mattings Operates a Weavers Ltd grain bag mill 292 Appendix 2 Appendix 2 293
Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation Freddies Cons. Mines AAC,AMGOLD Maj. Gold mine ad- Gen. Min. con- ministered by troIs Union Anglo Corp. Free State Saaiplaas AAC, AMGOLD Gold mine ad- Guarantee Life Assur- African Eagle Life As- 100 African Eagle is Gold Mining Co. Ltd ministered by ance Co. Ltd surance Society the largest life Anglo assurer in SA First Cons. Leasing Premier Finance Corp. Maj. Specializes in G & W Base & Indus- G&W Holdings 100 Mines, proc- Corp. the leasing of trial Minerals Ltd esses and mar- movable assets kets a wide range of indus- Ferrous Scrap Dis- Scaw Metals trial minerals to tributors foundry, paint, Flather Bright Steels AAC Maj. plastic and Ltd other industries First Union General AAC Min. General invest- G&W Industrial & G&W Holdings 100 Investment Trust Ltd mentco. Chemical Supplies Guarantee Life Assur- 100 Holds property G&W Holdings (Ply) AAC, Randsel About Holds G &W Guarantee Life Prop- erties Ltd ance interests of Ltd 30 Base and Ind. Group Minerals Gerencia Industrial AAC Maj. Griqualand West Dia- De Beers 72 De Beers mond Mining Co. leases the min- Limitada ing property to Gypsum Industries Tongaat Group 14 the co. Ltd Geldenhuis Deep AAC, Charter (through 100 Gold mine Gallo (Africa) Ltd AAC Min. Produce rec- Mining Co. Barlow Rand) ords, sound equipment, Government Gold JCI Min. Gold mine ad- etc. Mining Areas ministered by JCI Hollard Straat Ses Be- AAC, Randsel 49 The holding co. Greatermans Stores JCI Maj. Large retail leggings for Anglo & Ltd group in south- Federale Myn- ern Africa bou (which owns 51% in- Glencairn Holdings JCI Finance and terests) (Pty) Ltd exploration co. Gold mine ad- Great Northern AMCAN 27 Harmony Gold Mining AAC, AMGOLD, Char- Maj. Capital Corp. Co. ter, Randsel ministered by Rand Mines General Mining & Fi- Mainstraat Beleggings 50 Mining finance Maj. Holds the nance Corp. group in SA HD Development Ltd AAC, Randsel, Charter Group's inter- controlled hy est in En- Federale Myn- gelhard bou, but Anglo influential. 294 Appendix 2 Appendix 2 295
Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation Hanovia Inc. Hard Metal Tools Ltd Boart & Hard Metals 100 (71%) Horizon Holdings Ltd MINORCO Maj. Holds MINOR- High Level Gravels De Beers 100 Diamond min- CO's interest in Ltd ing co. Trend Explora- tion Highveld Steel & AAC, Randsel, AMIC, 51.8 Produces Vanadium Co. De Beers (through De vanadium Haw Par Brothers In- Charter 13.3 Charter negoti- Beers Ind. Corp.), pentoxide, ternational ated to take Charter, JCI, Barlow vanadium steel, over London Rand rolled steel see- Tin Corp. tions. Operates which involved its own mines exchanging these shares Heatrae Group Charter Min. Industrial group in the Hall, Longmore & Co. De Beers Ind. Corp. 2 UK Hartebeesfontein Gold AAC Min. Gold mine ad- Hume Ltd AAC, Charter (through Makes steel Mines ministered by Barlow Rand) and concrete outside group pipes. Has Hudson Mining (Pty) G & W Holdings 100 Do not confuse German part- Ltd with Hudson ners Bay Mining Henry Gould Ltd AAC, Charter (through Produces and Smelting Barlow Rand) chrome Co. Hudson Bay Mining & AMCAN 34.8 Produces cop- Hulett's Corp. Ltd Tongaat Group 50 Sugar pro- Smelting Co. Ltd per, zinc, sil- ducer. Tongaat ver, gold, has control cadmium, Hypack Products Ltd Tongaat Group 28 selenium, telunium and Hogarths Ltd AAC Min. lead concen- trates ISipingo Property [n- AAC, AMAPROp, 75 Property de- vestment Co. Ltd Randsel, AMIC velopment co. Hudcana De- AMCAN, Hudson Bay 100 Holding.co. for velopment & Francana Group interests [ndustrias de Caju AAC, Randsel 50 Grows and in Canada Mocita (Mozambique) processes cashew nuts in Hudson Bay Holdings AMCAN (through Hud- 100 Mozambique son Bay) Industrial Distributors ANAMINT, De Beers, 60 The Diamond Hudson Bay Explora- AMCAN (through Hud- 100 Prospecting Ltd JCI Corp. and Dia- tion & Development son Bay Mining & and mining mond Pro- Smelting) concern ducers Huletts Sugar Corp. AMIC 11.8 Produces sugar Association sell industrial dia- Hipp() Valley Estates RHOAM 25 Sugar cane monds to this planters and co. millers 296 Appendix 2 Appendix 2 297
Size of Nature Size of Nature holding of holding of Name ofcompany Anglo holding company (%) operation Name of company Anglo holding company (%) operation Industrial Distributors ANA MINT, De Beers, !OO Buys industrial Industrias de Caju, Industrias de Caju !OO Processes (Sales) jC! (through Ind. Dis- diamonds from Antenes SARL Mocita (Mozambique) cashew nuts in tributors) above co. and Mozambique sells to the trade Johannesburg Cons. AAe. De Beers, Rand- 50 Major mining Investments Ltd OCt) Industrial Grit Dis- ANAMINT, De Beers, !OO Does as above sel finance house now part of the tributors JCI (through Ind. Dis- for diamond tributors) grit Anglo Group L. Clarke & Co Randsel, AMIC 33.3 Ingagne Colliery AAC, Randse! Maj. Coal mine J. ICI General Engi- !OO Engineering International Pacific Charter 30 Merchant bank JCI Corp. (Australia) neering Ltd co. making mining equip- lndustcx: AMIC 37.5 Makes ment, struc- rubber-impre- tura! steelwork gnated indus- and precision trial textiles engineering Iron Duke Mining Co. RHOAM !OO Iron mine in and agricultural Ltd Rhodesia equipment International Pipe & De Beers (through De Min. Jeannette Gold Mines AAC, AMGOLD 25 Gold mine, ad- Steel Investments SA Beers Ind. Corp.) AAC Ltd ministered by Anglo Indumeni Coal Mines AMCOAL Coal mine ad- Ltd ministered by john B. Clarke Motor McCartby Rodway Maj. Retail motor AAC Co. firm Illings (Pty) Ltd AMIC 77.1 Imports and Kriel Coal Mining Co. AAC, Randsel Coal mine in distributes SA Mazda cars, earth-moving Koffiefontein Diamond De Beers Maj. Diamond mine equipment, Mine in SA cranes, hydrau- Kimberley Engi- De Beers (tbrougb De 50 Engineering lie excavators & neering Ltd Beers Ind. Corp.) concern 50% mechanical owned by bandling equip- AngloNaal ment Kanshansi Copper MINORCO Zambian cop- Industrial Metal Prod- AMIC Maj. Mine per mine ucts (!972) Ipcom Ltd. Konkola Mining Co. ZC! Copper mine in Inter-Mine Services AAC Supplies stores Zambia OFS (Pty) Ltd to Anglo Group Kasempa Minerals MINORCO (through Maj. Prospecting co. mines in SA ZAMANGLO Explora- operating in Ironstone Minerals Higbveld Steel !OO Part of High- lion Ltd Zambia Ltd veld Steel & Kalahari Investments MINORCO, Anglo Vanadium !OO Holds interests Ltd American Botswana, in Makgadik- Group ZCI gadi Soda & 298 Appendix 2 Appendix 2 299 Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation Barnangwato Leo Computer Bureau AAC (through Barlow Maj. Concessions Rand) Kenya Fertilizers Ltd Charter 50 50% offer- LHL Engineering Ltd AAC (through Barlow 26.4 Makes equip- tilizer co. held Rand) ment for ambu- by ICI lances, Rre engines, refrig- Kadola Mines Ltd Charter 33.6 Mine in Zam- bia eration units, etc. Kinross Mines Ltd AM GOLD Gold mine, ad- ministered by L. & F. Metter (Pty) AAC (through Barlow Min. Structural engi- neering, build- others Ltd Rand) ing, construc- Kloof Gold Mining Co. AM GOLD Gold mine ad- tion, plant ministered by sales, etc. Anglo Lomv's Creek Mining JCI 100 Produces tirn- Karina (Private) Ltd AAC Maj. Timber Ltd ber for mines Kenilworth Centre AMAPROP Maj. Owns office Lubimbi Coal Areas RHOAM 50 Coal mine in (Pty) Ltd and shopping Rhodesia complex in CapeTown Lytton Minerals Ltd AMCAN, Hudson Bay 67 Mining Kaffrarian Metal Hold- AAC Maj. Prospecting co. Min. Platinum mine ings Lydenburg Platinum AAC, JCI Ltd Kiln Products Ltd AAC Min. Longyear International AMIC (through Boart & 75 Manufactures and sells drill- Loraine Gold Mining AMGOLD 16 Gold mine BV Hard Metals) Co. ing equipment worldwide and Libanon Gold Mining AM GOLD Min. Gold and docs contract Co. uranium mine drilling La Lucia Property In- AAC, AMAPROP, 55· Developing 330 Lydenburg Holdings AAC Maj. General invest- vestment Co. Randsel (through SA acres (133 hal Ltd ment Townships) of land on N. ad~ coast of Natal Leslie Gold Mines Ltd AAC, AM GOLD Min. Gold mine ministered by LTA Engineering Co. AM1C, AAC, Randse], 40 1 of the 2 other group Ltd Boart & Hard Metals largest con- struction and Lynnedeale's Motors McCarthy Rodway Maj. Retail motor civil engi- Ltd firm neering groups Leymac Distributors McCarthy Rodway Maj. Retail motor in SA Ltd firm Lennings Holdings Randsel, JCI, AM1C General engi- (Pty) Ltd neering Mainstraat Beleggings AAC, AMIC, Randsel, 50 50% owned by (1965) Eiendoms Bpk De Beers Ind. Corp. General Min- Leesbak Investments AMIC (indirect) 100 Owns office ing, invests in (Pty) Ltd premises engineering Appendix 2 301 300 Appendix 2
Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation and heavy in- Milsell Chrome Mines Barlow Rand (through Min. Chrome mine dustry TC Lands) Messina (Transvaal) AAC 9.2 Copper min- MITAC (Pty) Ltd AMIC (through Boart & Management Hard Metals) consultants Development Co. ing, but also some industry. Madziwa Mining Co. RHOAM (through 100 Nickel mines in property and Ltd Rhodesia Nickel) Rhodesia loan finance Mazoe Citrus Estates RHOAM 100 Citrus farms Mondi Valley Paper AAC, AMIC, JCI, 85.3 Owns large Ltd ground wood- Co. Ltd Randsel Merchant Bank (Zam- MINORCO (through 20 Merchant bank pulp paper bia) Ltd ZAIlC) in Zambia mills Metal Fabricators of MINORCO (through 10 Metal manufac- AMIC, Randse!, AAC 50 Motor dealer, McCarthy Main Hold- zambia Ltd Zambian Anglo Ameri- turers in Zam- with ings Ltd can Ind. Corp.) bia earth-moving equipment and Makgadikgadi Soda Through Kalahari In- Min. Soda mine in engineering cos Ltd vestments Botswana as subsidiaries Mulfulira Copper Ltd MINORCO Min. Zambian cop- Motor Assemblies Ltd Through McCarthy IS Assembles per mine Main Holdings motor vehicles Marina da Gama Ltd AMAPROP Property de- Metair Holdings (Pty) Through McCarthy 40 Holds 53% of veloper in Ltd Main Holdings Airco Engi- CapeTown neering Metals & Minerals In- Randsel 49 Investment Mozambique Fisheries AAC, Randsel 45 Fishing co. vestment Corp. Ltd trust co. with Ltd interests in metal and min- Maj. Property hold- Main Place Holdings AAC, JCI eral producers ing co. in j'burg Morupule Colliery Ltd Anglo American Bots- 80 Botswana coal wana mining co. Marine Diamonds De Beers (through 36.2 Off-shore dia- CDMofSWA) mond mining Messina Rhodesia In- RHOAM Min. Base metal co. vestments mining co. in Rhodesia Middelburg Steel & Charter, AMIC, Barlow 70 Holds interests Alloys (Pty) Ltd Rand in RMB Alloys, Mindrill Ltd Through Boart & Hard 100 Southern Cross Metals Steel, Palmiet Metkor Investments Through IPSA Min. Investments in Chrome Corp., Ltd engineering Thos. Beglie & firms Co. McCarthy Rodway Ltd Through McCarthy Maj. Largest retail Mwinilunga Mines Charter, ZCI Min. Zambian cop- Main Holdings motor organiza- per mine tion in SA McKechnie Brothers Through Barlow Rand 10 Engineering Mazeppa Investments Through McCarthy Maj. Motor retailing (SA) Ltd co. Ltd Rodway co. 302 Appendix 2 Appendix 2 303 Size of Nature Size of Nature holding of holding of Name ofcompany Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation McCarthy's Affiliated Through McCarthy Maj. Industries Ltd Investments Rodway in which it has Metair Investments Through Metair Hold- 72 Manufactures interests Ltd iogs air-conditioning New Largo Colliery AMCOAL, Randsel Maj. Coal mine, and refrigerator supplies ES- equipment and COM truck bodies Natal Coal Exploration Randsel, AM COAL 40.3 Prospecting co. Morelands Foods & Through Tongaat Group Maj. N'Changa Cons. Cop- Feeds Ltd ZCI 49 Holds the cop- per Mines Ltd per mining and Majoram Holdings Ltd refining inter- Matte Smelters Ltd Union Platinum, John- Maj. Concentrates ests of Anglo in son Matthey platinum group Zambia metals National Milling Co. Charter 50 Milling concern Minas del Otona, SA Lytton Minerals 48 Copper mining (Zambia) in Zambia co. in Mexico National Fund Hold· Barlow Rand, JCl 16 Central Accept~ Marico Mineral Co. Vereeniging Rcfrac- 100 Supplies raw ings ances had con- Ltd tories material to par- trol ent co. National Carpets Ltd JCI 14 Manufactures Mopani Magnesite Ltd Vereeniging Refrac- About Mines Magnc- carpets tories 50 site Nedsual AAC, De Beers Min. Formed out of a merger of New Central Wit- AAC Maj. Mining finance Nedbank (con- watersrand Areas Ltd co. holding in- trolled bv the terests in De Old Mut;"al), Beers, AAC, UAL (con- Randsel, JCI, trolled by AMGOLD Anglo) and Syf- Natal Anthracite Col~ AMCOAL Min. Coal mine rets (controlled liery by Anglo). One ofthe largest Newcastle Platberg AMCOAL Min. Coal mine banking and Colliery financial ser- Natal Ammonium Col- AMCOAL Min. Coal mine vices groups in lieries SA New]agersfontein De Beers 67.7 Diamond min- Nefic Ltd Nedsual Maj. Specialist gen- Mining & Exploration ing co. eral bank Co. Ltd NEFIC Acceptances NEFIC Maj. Merchant bank Northern Lime Co. De Beers Ind. Corp., 30 Produces mar- Ltd Ltd Charter, Barlow Rand ble chips and Ncdsual Economic Nedsual Maj. Provides eco~ (Rio Tinto owns about dust and sells Unit Ltd nomic informa- 10%) to Marble Line tion to cos & Associated 304 Appendix 2 Appendix 2 305 Size of Nature Size of Nature holding of holding of Name ofcompany Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation New State Areas Ltd ICI Maj. Land and town- meat and dairy ship co. produce New Imperial Mines AMCAN 10.6 Canadian cop- Orange Free State AMIC Maj. Property co. Ltd per mining co. Land & Estate Co. operating in Ndola Lime Co. Zambian Anglo Arneri- 50 Ltd OFS can Ind. Corp. Oriole Investments AAC (ZMAIC) Ltd Northem Breweries ZAAIC, SA Breweries 49 Monopoly over Orlop Investments Ltd New Rhodesia Invest· 100 Ltd zambian liquor ments industry Olympic Motors Ltd McCarthy Redway Maj. Retail motor National Finance AAC Min. Operates on firm Corp. of SA the money market President Brand Min- AMGOLD Maj. Gold mine in OFS adminis- National Board of Ex- Nedsual has ing Co. Nedsual Min. tered by Anglo ecutors largest single holding President Steyn Min- AM GOLD Maj. Gold mine in OFS adminis~ Maj. Prospecting co. ingeo. New Middleridge Ltd AAC tered by Anglo New Rhodesia Invest- AAC 100 A holding com- Petrangol Consortium AAC, De Beers, ICI, 67.5 Holds a 25% ments Ltd pany for An- Barlow Rand, General stake in the glo's Rhodesian Mining output ofa pro~ interests other dueing oilfield than those held in Angola byRHOAM PGM Brakspruit Ltd Charter, AAC, Barlow Over Buys platinum Natal Tanning Extract AAC Owns forests Rand, General Mining 80 from Rusten~ and 3 factories Co. Ltd burg Plats and to produce tan- resells to En- ning extract gelhard Miner- from bark als & Chemical Corp. Orange Free State In- AM GOLD Maj. Holds Anglo's vestment Trust gold mining in- Premier (Transvaal) De Beers 96.4 Mines dia- terests in OFS Diamond Mining Co. monds Orama Holdings Ltd Cons. Diamond Mines 84.7 Holds diamond Protea Holdings Ltd Randsel 15 Has interests in SWA interest chemicals, medicines, Maj. Holding co. for Overseas & Rhodesian Randse!, RHOAM. scientific in· some Anglo in- Investment Co. Ltd AAC struments, terests in metal products Rhodesia Potgietersrust Randsel, AAC, ICI Maj. Part of the new Oranje Koelkamers AMIC 50 Produces and Platinum Ltd Union Plats Ltd distributes Group 306 Appendix 2 Appendix 2 307 I Size of Nature Size of Nature holding of holding of I Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation
" Pretoria Portland Ce- Charter, Barlow Rand 26.4 Cement pro- Rhoehar Holdings Ltd AAC, Randsel 100 Holds AAC's ment Co. ducer and Randsel's interests in Prospecting (?) (full Charter Prospecting Charter name not known) venture in Madagascar Rand Mines Barlow Rand Maj. Merger be- tween Rand Platinum Prospecting Charter, General Min- At least Platinum pros- Mines & Thos. Co. ing 25 pecting co. Barlow led to Printing Investments JCI 100 Holds Swan Barlow Rand Ltd Press, also Wal- being formed lack's Rhodes Fruit Farms AAC, Randsel, Dc Maj. Fruit and wine Palabora Mining CO. JCI 7 Copper mine Ltd Beers farms con- Ltd controlled by troIled by Rio Tinto Anglo Phalaborwa Engi~ JCI Maj. Engineering Rhodesian Nickel RHOAM, AAC, Rand- 85 Holds interests neering Co. concern Corp. sel in Rhodesian Premier Portland Ce~ RHOAM 7 Rhodesian sub- nickel mine ment Co. sidiary of Pre- Rhodesian Accept- RHOAM, AAC, Rand- About Merchant bank toria Portland ances sel 50 in Rhodesia which owns Barlow Rand, AAC, Over Holds interests 49% Rand Mines Holdings Randse1, Charter 80 in Rand Mines Premier Finance AAC Maj. Provides Engineering Corp. medium-term Investments, Rnance TC Lands and Peak Timbers Ltd AAC Maj. Owns forests in others Swaziland Rhokana Corp. MINORCO :\1in. Copper mining Prospecting Ventures AAC Maj. Prospecting co. co. in Zambia Ltd Rathsdown Ltd Charter Min, Industrial Prairie Investments M1NORCO 100 Owns 51% of group in the Ltd Engelhard UK Minerals & Roan Cons, Mines ZCI Min. Copper mining Chemicals co. in Zambia Premier Finance Randsel 100 A Rnance com- Rio Tinto-Zinc Corp. Charter, JCI Aboot UK mining Corp. pany, part of 15 group Schlezinger Engi~ Rand Mines Holdings, 100 Holds a large Group Rand Mines neering Investments Rand Mines, TC Lands number of Bar- Prolux Paint Holdings AE&CI 100 Holdings in Ltd low Rand's en- paint manufac- gineering turers interests Pan Textiles Ltd SA Nylon Spinners 100 Rand Mines Properties Rand Mines Holdings, Maj. Holds gold Pares Motors Ltd McCarthy Rodway Maj. Retail motor Rand Mines properties firm 308 Appendix 2 Appendix 2 309 Size of Nature Size of Nature holding of holding of Name ofcompany Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation Rand Mines Property Rand Mines Properties 100 Southvaal Holdings AMGOLD, Randsel Maj. Gold holding Brokers Ltd company Ready Mixed Concrete Barlow Rand 33.3 Operates SW Africa Co. AAC, Randsel Min. Produces (SA) Ltd ready~mix con- vanadium and crete plants lead; adminis- Rheem SA Ltd AMIC, Engelhard 45 Makes steel tered by Gold Hanovia (SA) drums Fields Group Randfontein Estates JCI Min. Gold mine ad- South African AAC, AMIC, JCI, 31.6 Largest brew- ministered by Breweries Ltd Randsel, Barlow Rand ery group in JCI SA, with inter- ests in liquor, Rustenburg Platinum JCI Maj. Part of the fuod, hotels Mines Union Plats and industry Group SoelVelde Ltd AAC, SA Townships, Over Holds Anglo's Ropes & Mattings Ltd AMIC 14 Textile group in AMCOAL 33 agricultural SA land interests. Rhodesia & Nyasaland RHOAM 100 Timber pro- Over 51 ()()() Forest Enterprises Ltd ducer morgen Rhodesian Diamond & RHOAM 40 Stellenbosch Wine SA Breweries, JCI 48 Holds wine in- Carbide Ltd Trust terests Rhodesian Iron & RHOAM 8 Produces iron Swaziland Iron Ore AAC, Randsel Maj. Owns an iron Steel Corp. and steel Development Co. are mine in Swaziland Ridgeway Hotel Ltd Zambian Anglo Ameri- 30 Hotel group in can Ind. Corp. Zambia Standard Bank ofAn- AAC Min. Angolan branch Rhokana Copper ZCI Min. Copper gola Refinery refinery in Standard Bank of AAC Min. Mozambican Zambia Mozambique branch Rioden Investments AAC 20 Prospecting co. Societe Mini(~re Charter, AAC 40 Co. mines Ltd d'Anglade scheeHte de- posits in France RNFE (Private) Ltd AAC Maj. 44.6 Co. mines cop- Rhodesian Alloys Ltd AAC Min. Societe Miniere de Charter, AAC Mauretanie perin Refractory Minerals Vereeniging Refrac- 100 Supplies raw Mauretania, Ltd tories material to par- Charter ad- ent co. Oper- ministers the ates in mine. Co. uses Rhodesia theAAC pa- Rand Carbide Ltd AE&CI 68 tented Torco process to treat St. Helena Gold Min- AMGOLD, Randsel 20 Gold mine ad- the ore ingCo. ministered by Societe Miniere et Charter Min. French mining Union Corp. Met. de Penarroya co. 310 Appendix 2 Appendix 2 311 Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation South West Finance Dc Beers 100 Holds Op- Sabel Developments SA Townships 100 Shopping Corp. penheimer Ltd centre in Belle- family's rights ville, Cape to diamonds in Town Namibia South African Coal Es- Charter, Randsel, AM- 58 Coal mining co. Synthetic Diamond De Beers 100 Holds synthetic tates COAL Co. diamond inter- Selection Trust Charter 27 UK mining ests house with Societa Nazionale De Beers, Charter Min. A leading Ital- large copper, Sviluppo Impresse 10- ian finance and gold, diamond dustriale investment co. and molyb- in which the denium inter- Banque de ests in Africa, Paris and the Australia and French Bern- N. America. berg group also Charter largest participate shareholder Sea Diamonds Ltd Cons. Diamond Mines 52.9 A holding co. Swaziland Collieries Charter, Barlow Rand 87.4 Has coal mines in De Beers Ltd in Swaziland South African Nylon Dc Beers Ind. Corp. 37.5 Spins continu- Shell Transport & Charter About Part ofthe Spinners (Pty) Ltd ous filament Trading Co. Ltd 10 Shell group fibres from im- (Royal Dutch ported poly- Shell Petro- mers. ICI holds leum) 25%, the SA Stormill (Pty) Ltd Barlow Rand 100 Industrial govt owns township in 37.5% Transvaal Stewarts & Lloyds of De Beers Ind. Corp., Min. Makes tubes, South Wales Group Barlow Rand 33.3 Heavyengi- SA Ltd Randsel, AMIC borehole Ltd neering group pumps, wind- holding com- mills, etc. pany in the UK South African Titan AE & CI 40 Controlled by South African Forest Barlow Rand. AMIC 100 Timber pro- Products Titan Products Investments Ltd ducer with saw- (UK) milling and Southvaal Holdings RandseI, AMGOLD Min. Holds interests forestry inter- Ltd in Anglo's Vaal ests in Reefs gold mine Transvaal South African To"m- Randsel 92.9 Has interests in South African Ship- Barlow Rand Min. Owns Rand ships Mining & Fi- gold, diamond ping Finance Co. Ltd Bank Ltd and nance Co. Ltd and base metal other interests mining, indus- Steelbrite Ltd JCI Almost Furniture try and prop- 50 manufacturer erty -
312 Appendix 2 Appendix 2 313
Size of Nature Size of Nature holding of holding of Name ofcompany Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation controlled by Estate Co.. in JCI whichAMIC South African Minerals JCI Maj. Base metals has a majority Corp. company share Standard Charter Bank AAC, JCI Min. JCI holds a Shaft Sinkers Ltd LTA Maj. Engaged in Group share in the shaft-sinking Standard Bank across the (London) Ltd world which owns the Sirnoona Estates Ltd RHOAM 100 Farmland in Standard Bank Rhodesia Investment Mining and ex- Corp. (in which Spes Bona Exploration RHOAM 31.5 ploTation in Me has an in- & Mining Ltd terest) which Rhodesia owns the Stan- Salfontein Gold Min- AM GOLD Min. Gold mine dard Bank of ing Co. SA Sent'llst Bpk AAC Maj. Finance house Shannon Sawmills Ltd JCI Administered Schlezinger Insurance Randsel Maj. Interests in life by JCI & Institutional Hold- insurance, Sunningdale Farm Ltd JCI Controlled by ings Ltd (SII) property de- JCI velopment and Sylvite ofCanada Ltd Hudson Bay Mining 100 Mines potash banking. One and supplies it of the largest to Terra financial groups Chemicals in SA Scaw Metals Ltd AMIC 100 Produces ferr- Sorec Ltd Randsel 47 Controls part of ous and non~ the property development ferrous castings, rolled interests of SII, ofwhich it is a steel products, etc. subsidiary Coal mine con- South Aliican Board AMIC Min. Paperboard Springbok Colliery South African Goal Es- 100 Mills producer Ltd tates trolled by AM- COAL Stafford Mayer Co. AMIC 24.5 Holds coal, (SA) Ltd sugar and in~ South African Mines AAC Maj. Holding co. for dustrial inter- Selection Ltd mining inter- ests. Owns 68% ests ofSA Board St Andrews Securities AAC Maj. Mills Ltd Stone & Allied Indus- AMIC 100 Owned 100% South African Land & AMGOLD Gold mine ad- tries by Orange Free Exploration Co. Ltd ministered by State Lane & Anglo Appendix 2 315 314 Appendix 2 Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation involved (owns Scandiarnant Ak- De Beers 25 Composed of 3 35%) tieholag cos manufactur- ing synthetic Tidal Diamonds Ltd Cons. Diamond Mines 54 Holding co. for diamonds in De Beers SA, Ireland, Tiger Oats & National AMIC, Randsel, JCI Min. Basic food Sweden Milling Co. Ltd processor Strikine Copper Ltd Hudson Bay Mining 32 Owns copper Transvaal Cons. Lands Charter, Barlow Rand Abont Holds mineral deposits in Ltd 40 rights, colliery British Colum- and financial bia interests Shangani Mining Maj. Trouoh Mines (Malay- Charter 29.7 Owns 2 tin Corp. sial Ltd mines in Springfield Collieries AM COAL Maj. Coal mine ad- Malaysia Ltd ministered by Trade & Transporta- Charter 8 UK co. Anglo tion Services Ltd Standard Bank Invest- AAC Min. See Standard Trans-Atlas Holdings Barlow Rand Has a majority ment Corp. Cbarter Bank Ltd holding in Group and Cons, Stone- Standard Banks crushers Ltd of Angola and which domi- Mozambique nates the Sonthridge Ltd AAC Maj. Prospecting co. crushed stone and sand mar- Prospecting co. Swakop Exploration AAC Maj. ket in the in Namibia Ltd Transvaal Syndicat de Re- AAC Min, Prospecting co, Transvaal & Dclagoa TC Lands 96 Holds Douglas cherches de Nord-An- Bay Ltd Drift Colliery driamena and other inter- Safmot Ltd McCarthy Rodway Maj. Retail motor csts (e. g. Rand firm Mines Engi- Southampton Assur- African Eagle Life As- 100 Part of the neering) ance Co. of Rhodesia surance Society Group's Rhode- Tedelex Ltd Barlow Rand Min. Makes and dis- Ltd sian operations tributes electri- cal household Tsumeh Corp. AAC, SWACo. Min. Lead and zinc goods (e.g. hi- mine in 6s, radios, Namibia fridges) Transalloys (Pty) Ltd AAC, Randsel 65 Produces Toyota (SA) Ltd JCI Min, Holds franchise ferro-manga- for Toyota vehi- nese. Phillip des Bros of Swit- Teba Trust (Pty) Ltd JCI Maj. Finance and zerland is also exploration co. 316 Appendix 2 Appendix 2 317 Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation Terra Chemicals Inter- Hudson Bay Mining 15 Operates a Transvaal Coal Corp. AM COAL Maj. chemical com- national Min. Coal mine plex from the Trans-Natal Coal Co. AMCOAL US. Sylvite of Ltd Canada sup- The Deep Drilling Co. Boart & Hard Metals Maj. plies its potash. Ltd Terra Nova Explora- Hudson Bay Explora- 33 Prospecting co. Transvaal Vanadium Highveld Steel & Maj. tion tion Co. (Pty) Ltd Vanadium Tombill Mines Ltd Hudcana Development 38 Holds 40% of Tongaat Group Ltd AAC Min. Produces Francana Min- sugar. food, eraIs clothes, and is involved in Produces motor Thompson Ramco (SA) AMIC 45 property and Ltd components. 51% is held by construction TRW Inc. of Tongaat Sugar Ltd Tongaat Group Maj. Produces sugar US Tongaat Investments Tongaat Group Maj. Property and Trojan Mining Co. Ltd Rhodesian Nickel Corp. 100 Rhodesian min- Ltd electrical engi- ing co. (nickel) neering inter- ests Tanganyika Conces- RHOAM Min. sians Ltd The Rhodesian Milling RHOAM Min. Co. Tubemakers ofSA Ltd Stewarts & Lloyds of SA 100 Holds S. & L.'s tubemaking in- 'n1e Discount House Nedsual Maj. Operates in the terests in SA ofSA Ltd SA money mar- ket Tubemakers of Stewarts & Lloyds ofSA 100 Holds Rhode- Rhodesia Ltd sian interests Tuli Exploration Ltd AAC Maj. Prospecting co. Tube & Pipe Indus- Stewarts & Lloyds of SA 100 Holds as- Triomf Fertilizer Ltd AE&CI 49 Manufactures tries Ltd sociated tube fertilizers interests AMAPROP Maj. Holiday centre Has oil inter- Umhlanga Beach Trend Exploration MINORCO 57 on N. coast of ests in Canada Natal and Indonesia AAC, AMIC, Randsel 40 Owns buses, Maj. Provides tech- United Transport Townsview Estates Randsel commercial ve- nical and man- Holdings Ltd hicles and cars agerial services for hire. United to Schlezinger Transport (UK) Group's prop- owns 60% erty cos Umgala Collieries Ltd AMCOAL Min. Coal mine Thaton Ltd AAC Maj. Ultra High Pressure De Beers 50 Produces syn- Min. Tin Mine in The Sungei Besi Charter thetic dia· Malaysia Units Mines Ltd monds Appendix 2 319 318 Appendix 2 Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation Anglo-Vaal Holds mer~ Co. Ltd Union Acceptances Nedsual Maj. Group Holdings chant banking interests Vaal Reefs Ltd AMGOLD, Randsel Maj. Gold mine ad- ministered by Maj. Platinum min- Union Platinum Min- AAC, JCI Aoglo ing Co. Ltd ing co. which also controls Venterspost Ltd AMGOLD Min. Gold mine ad- Rustenburg ministered by Plats, Waterval Gold Fields Plats & Pot- Vierfontein Collieries De Beers Ind. Corp., 28.5 Supplies coal to gietersrust Ltd African & European one ofES- Plats COM's power Union Corp. General Mining, Char- Min. Has been taken stations ter over by Gen- Van Dyke's Drift Col- TC Lands Coal mine eraI Mining liery Union Steel Corp. Ltd AMIC 13.1 Controlled by Vryheid Coronation Coronation Colliery Maj. Coal mine ad~ ISCOR, pro- Colliery ministered by duces steel AMCOAL products, etc. Vereeniging Refrac- AMCOAL, AMIC 66.7 Manufactures USCO Aluminium Union Steel Corp. Maj. Operates an tories Ltd refractories, Corp. Ltd aluminium wire silica, bricks, and conductor etc. Has a plant number of sub· Union Carriage & General Mining, Main- Min. Biggest single sidiaries Wagon Co. straat Beleggings supplier of rail- Vereeniging Cons. AMCOAL Min. Produces food· way coaches Mills Ltd stuffs, cattle and electric feed, etc. locomotives to SA Railways VE Exploration Ltd AMCOAL Maj. Prospecting and other rail subsidiary of networks AMCOAL Refrac~ Unitor (Zambia) Ltd Zamanglo Ind. Corp. 20 Vereeniging Tiles Ltd Vereeniging Maj. Manufactures tories tubes, etc. Ultra High Pressure De Beers 50 Produces syn- Shares market Units (Ireland) Ltd thetic dia- Vitro Clay Pipes Ltd Vereeniging Rcfrac- 50 monds in tories with Cullinan Ireland plant Refractories VPC Ltd LTA 42 Handles Virginia Merriespruit Charter, AAC, Barlow 82 Kennecott turnkey heavy Investment Co. Ltd Rand, Engelhard Copper of US industrial pro- Hanovia (SA) owns 10% of jects the co. Vanderbijl Engi- AAC Min. Controlled by Virginia (Orange Free Virginia Merriespruit Gold mine ad- neering Corp. Ltd ISCOR. UK State) Gold Mining Investment Co. ministered by Appendix 2 321 320 Appendix 2 Size of Nature Size of Nature holding of holding of (%) operation Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company cos. involved Western Areas Ltd AAC. Randsel. AM- Maj. Gold mine ad- Associated GOLD ministered by Electrical Engi- ICI neers, Vickers, West Driefontein Gold AMGOLD. AAC. Rand- Min. Gold mine ad- & Ashmore Mining Co. Ltd se1 ministered by Benson Pease Gold Fields & Co. Also Group Mesta Machine Wanleie Collieries Ltd AAC. RHOAM. Rand- Maj. Large coal field Co. of US. Pro- in Rhodesia duces heavy sel mechanical Williamson Diamond De Beers 50 Owns large dia- equipment Mining Co. mond field in Tanzania to· Vecor Heavy Engi- Vanderbijl Engineering Maj. Subsidiary of gether with neering Vanderbijl Tanzanian govt Vosa Valves Ltd Stewarts & L10yds ofSA 100 Waterval (Rustenburg) ICI. AAC Maj. Part of the new Veldmaster (Pty) Ltd Union Steel Corp. Maj. Produces ag~ Platinum Mining Co. ICI-controlled ricultural discs Ltd Union and earth-en- Platinum gaging parts Group ofmines Valley Exploration & AAC Maj. Prospecting co. Witbank Collieries Ltd Charter. Barlow Rand Maj. Controlled by Mining Co. Ltd Rand Mines for Barlow Rand Western Holdings Ltd AMGOLD, AAC, Rand- Maj. Gold mine ad- sel ministered by Werff Brotbers Ltd Charter 40 UK co. Anglo Welgedacbt Explora- Barlow Rand Maj. Administered Welkom Gold Mining Randsel, AAC. AM- Maj. Gold mine ad- tion Ltd by Rand Mines Co. GOLD ministered by Transvaal Cons. Lands Chrome mine Anglo Winterve1d (TCL) Cbrome Mines Ltd in Barlow Rand West Witwatersrand AMGOLD. Randsel, 20.1 Holds West Group Rand gold in- Areas Ltd AAC 66.6 Makes cor- terests. Control Weyerhauser (SA) Ltd Barlow Rand, SA Forest Investments rugated card- by Gold Fields. board Anglo inHuen· containers. tial Weyerhauser Western Deep Levels AMGOLD. AAC. Rand- Maj. Gold mine ad- (US) holds Ltd sel, Charter. ministered by 33.3% Anglo Witwatersrand Gold ICI Maj. Land and town· Western Reefs Ltd AAC. Randsel, AM- Maj. Klerksdorp Mining Co. ship co. gold mine ad- GOLD 25.6 Provides ministered by White Pass & Yukon AMCAN Ltd transport ser- Anglo vices in Yukon, ...
322 Appendix 2 Appendix 2 323
Size of Nature Size of Nature holding of holding of Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation British Colum- Zuinguin Natal Ltd African & European, 57.5 Coal co. con- bia Randsel, AM CO-\L troIs Indumeni Western Bank Ltd Randsel Min. Controlled for- Coal Co. as merlyby well Anglo, now by Zululand Oil Explora- Engelhard Hanovia, Has on~ and Barclays Bank tioD Co. Barlow Rand off-shore con- with Anglo in- cessions in creasing its in- Zululand. Gulf terests in Oil doing ex- Barclays ploration West End Property Anglo American Bots- 100 Owns a multi- Zinc Oxides of Canada Hudson Bay Mining 100 Holds 100% of Co, Ltd wana storey office Ltd Durham Indus- building, Bot- tries of Canada salano House, in Gaborone, Zambian Anglo Ameri- MINORCO 100 Holds Anglo Botswana can Industrial Corp. Group's inclus- (ZAAIC) trial and ag- Whitehorse Copper AMCAN, Hudson Bay 41.6 Copper mining ricultural Mines Ltd Mining co. in Canada interests in Winkelhaak Mines Ltd AAC, AMGOLD Min. Gold mine Zambia Western Ultra Deep AAC, AM GOLD 30 Mining finance Zambia Copper In- MINORCO 49.9 Holds Anglo's Levels Ltd co. controlled vestments mining inter- by Anglo ests in Zambia Witwatersrand Deep MC Min. Mining finance Zambia Clay Indus- Zamanglo Ind. Corp. 22 Ltd house tries Ltd Warbler Investments AAC 20 Prospecting co. Zamanglo Exploration ZCI 60 Ltd Ltd Western Decalta Pe- Hudson Bay Mining 38 Zambian Broken Hill MINORCO Maj. Lead and zinc troleum Mining Co. Ltd mine in Zambia Witbank Coal Hold- AMCOAL, AAC Maj. Holding co. for Zamanglo Australia MINORCO 100 Owns 30% of ings Ltd some Anglo (Pty) Ltd Australian coal interests Anglo Ameri- can Wendt GMBH Ltd Boart & Hard Metals Maj. Previously W. S. Craster (Private) Scaw Metals Zambia Breweries Ltd Northern Ltd Breweries. See Zandpan Ltd Randsel, AAC, AM- Min. Gold and 'N' GOLD uranium mines administered by Anglo Vaal Ziuchem Ltd MC, AMIC, Randsel 100 Produces zinc I dust I I po
324 Appendix 2
Sources Company Reports: Anglo American Corp. of South Africa, Annual Reports, 1970-6 De Beers Cons. Mines, Annual Reports. 1970-6 Charter Cons., Annual Reports, 1970-6 Rand Selection Corp., Annual Reports, 1970-6 Anglo American Investment Trust, Annual Reports, 1970-6 APPENDIX 3 Mineral and Resources Corp., Annual Report, 1976 Anglo American Gold Investment, Annual Report, 1976 A Survey of the Anglo American Industrial Corp., Annual Reports, 1970-6 Anglo American Coal Investments, Annual Report, 1976 International Links ofthe Anglo American Group Anglo American Properties, Annual Reports, 1975-6 Zambian Copper Investments, Annual Reports, 1973-6 Financial.Mai~.Johannesburg; September 1968-February 1970, January 1975-August 1976; Fmanclal Gazette, Johannesburg; September 1968-February 1970. INTRODUCTION This appendix presents the links between companies in the Anglo American Group and some of the more important European, American and Japanese companies. Some governments with direct links with Anglo American com panies have also been included. This list is not a fully comprehensive record and is compiled from information relating to Croup activity in 1976. Documentation is presented, for the sake of clarity, in the following way.
1 The first line of an entry is set in bold type apd shows the company or group with which the Anglo Group is linked (e.g. American Metal Climax) and the country of origin of that company or group (e.g. the US). 2 The second line is set in SMALL CAPITALS and shows the holding company within the Anglo Group which is the other pole of the linkage (e.g. Charter Consolidated), Where two or more Anglo companies are involved these are given. In cases where the Anglo Group is known to be involved but the name of the holding company itselfis not known, or where a large number of Anglo companies are involved, the term 'Anglo Group' is used. 3 Subsequent lines, set in text type, specify the precise nature ofthe connec tion between the Anglo Group and the international Group with which it is connected, e.g. joint holdings in a third company and the nature of that company's association with the other two; the provision of financial sup port; loans; etc. Where more than one connection is known to exist these are given, Where the connection is through holdings in other companies, those connecting companies are italicized. Where holdings exist in con necting companies, the size of the holdings, where known, is given as percentages. These percentages should, however, be treated with some caution as they are constantly varying, When possible, cross references have been made,
Abbreviations of the names ofsome of the Anglo Group companies mentioned in the appendix are as follows: AAC Anglo American Corporation of South Africa Ltd Randsel Rand Selection Corporation Ltd AMIC Anglo American Industrial Corporation Ltd AMCAN Anglo American Corporation of Canada Ltd 325 228 Anglo American
Otherh' h agricultural..interests of.the Group include; Rhodes Fruit and W·me r3rms,v W 1~ owns e.xtens~ve estates in the Western Cape and grows, cans and markets deciduous fruits, wme and grapes and has a large livestock heard- H· " 11 E t 1 h" hod' ' IPPO "a ey s a es W Ie pr uces sugar, citrus and related products in Zimbabwe- Dewhurst Farm~ wh!ch mainly ~istrihutes and sells fresh farm products; Mazoe'Citrus Es tates In Zimbabwe; SJmoona Estates in Zimbabwe; and SunningdaJe Farm and ~onway Farm. both controlled through leI. In geneml Anglo American Croup CONCLUSION anns are among the most mechanized in southern Mrie-d. (Anglo American Corp. 0[5:\, ,Annual Repent, 1976. p. 83; and Financial Mail. Special Survey 'Top Com- Anglo American pantes, 22 April 1977, p. 19.) . and South African Imperialism
This study has concentrated almost exclusively on Anglo American's position in the political economy of South Africa. In so doing it has focused not only on Anglo's rise to power within the industrial econ omy but also on the social and political conditions which surrounded and influenced that process. Such an approach has enabled us both to locate Anglo American in relation to the fundamental forces which motivate capitalist society in South Africa and to chart the evolution of that society over time. Inevitably, there must be omissions and short comings in a work which attempts such an all-embracing study over a time-span of more than a hundred years. None the less, we would argue that such weaknesses do not detract from the validity ofattempt ing this task, since the particular perspective or overview which it affords is one which no micro-study could hope to provide. However, there are omissions in this study and before closing this investigation some of these omissions need to be briefly dealt with. In this conclu sion we will summarize those aspects of Anglo's activities which, though largely ignored so far, we feel it necessary to comment on before putting forward a final definition of the Group. These relate to the question ofcorporate control within the Group and to the interna tional scope of its activities. Throughout this study we have tended to view the interests of the Anglo American Group and those of its successive chairmen, Ernest and Harry Oppenheimer, as more or less synonymous with one another. The reason for this is obvious; since its inception the Anglo Group has been closely identified with subsequent generations of the Oppenheimer family. Anton Dunkelsbuhler, the Group's founder, was the uncle of both Ernest and Louis Oppenheimer, the two brothers who played such a crucial role in the Group's formative years. Ernest's son Harry followed his father as chairman and today Harry's son Nicholas is an important figure in the Group as is Harry's former son-in-law, Gordon Waddell. Furthermore, within the Group's struc ture-and yet never in the forefront of Group actiVity-are to he found private companies, such as Brenthurst Investment Trust (named 229 230 Anglo American Conclusion Anglo American and South African Imperialism 231 after Harry Oppenheimer's private home) and E. Oppenheimer and would probably end up in the uncomfortable position of having Op Son, which tend to be dominated by members of the Oppenheimer penheimer as its biggest single shareholder." The importance of this family. This latter company, whose origins date back to the 1860s, from our present point ofview is that it means that it is possible for the has had a particularly close association with the Group throughout Oppenheimer family to dominate the Group as a whole through hold its history. The question which immediately presents itself, of ing only a minority ofthe shares in each of the four leading companies. course, is that of the precise nature of the association between An examination of the Anglo American Corporation's share register at the Oppenheimer family and the Anglo American Group. Posed in three-yearly intervals reveals that, in 1973, 1976 and 1979, Harry Op general terms, the question of the relationship between families or penheimer and his son, Nicholas, between them owned respectively individuals with large holdings in giant corporations and the operations 20.4 per cent, 20.25 per cent and 16.4 per cent of the corporation s of these corporations is one which is of particular interest to social total share:capital.' Though extremely large in absolute terms, these scientists at a number oflevels. One ofthese concerns the potential for holdings on their own were not sufficient to exert direct control. In manipulation that such a relationship might open up, while another 1977 for instance De Beers alone owned 33 per cent of the Anglo concerns the issue ofthe way in which control is exercised within such Ame~ican Corpor~tion. However, if the Oppenheimers' holdings i~ a corporation. As far as the Oppenheimer family and Anglo American the Anglo American Corporation are combined with the family s are concerned, we do not intend to explore the former question, but minority shares in other Group companies (especially its stake in De we are interested in the latter: i.e., in the nature of the relationship Beers through Consolidated Diamond Mines of South West Mrica), between the family and the Group to the extent that it raises theoret these holdings would seem to give the Oppenheimers an almost unas ical questions about corporate control. There is a broad body of litera sailable position in the Group. . ture which argues that the diffusion of ownership which has Yet, of course, the family's position can never be totally secure. It IS accompanied the historical rise of large public corporations has been always possible that some outsider or some new coalition from within accompanied by an inevitable dilution of corporate control. Further may appear and buy up sufficient shares to oust the Oppenheimers more, some versions of this thesis claim that under monopoly capital from their dominant position. At this point the role of a private com ism 'ownership' and 'control' have been separated from one another, pany like E. Oppenheimer and Son seems to be important within the leading to a situation in which a 'managerial class' emerges in control of Group since it helps to promote a sense ofesprit de corps among senior company operations (see, for instance, Berle, 1954; Burnham, 1960). management and personnel. Not only does this help to discourage a At first sight it seems as if there is a good deal of truth in these possible internal coup but, in the face of a take-over threat from out propositions and that there is no reason why tbey should not be appli side, the danger ofdisunity within the ranks is subverted. The way this cable to Anglo American. The Group does indeed consist largely of works in practice is quite difficult to discern precisely, since E. Op public corporations in which 'the public' is free to participate. Further penheimer and Son is no longer a public corporation (it converted to a more, the ownership structure within the Group is highly decen private concern on 1 February 1966) and therefore does not publIcly tralized, thus suggesting a dilution of owners' control. However, divulge the kind of information which would facilitate an inquiry ofthls against this, we have the undisputed fact ofthe Oppenheimer family's kind. However, prior to going private the company was controlled domination of the Group over many years. The question is: how does through a majority shareholding by the Oppenheimer family. In addi this domination occur and what are its implications for the application tion, the family encouraged minority participation by non-family mem of the above theories to Anglo American? bers who were often senior Group management and personnel. In The first point to note is that the internal control structure within the terms of the Articles of Association of the company, the terms on which Anglo American Group is highly decentralized. Four holding com this latter participation occurred were at the sole discretion of the direc panies form the inner core ofthe Group's control structure: the Anglo tors who were, for instance, able to determine the price at which American Corporation, De Beers Consolidated, the Rand Selection shares could be bought and sold.' In the light of this it is interesting to Corporation and Charter Consolidated. Between them there is a com observe that in 1966 all the directors of the Anglo American Corpora plex network of cross-holdings through which each company holds only a tion were also shareholders in and nominees of E. Oppenheimer and minority share in each of its partners (see Figure 6 in Appendix 2). Son.' Since most of these directors also held key positions on the However, together these minority holdings add up to a substantial boards ofother Anglo Group companies, it seems reasonable to assume ~ajority share in each company so that, as the Financial Mail put it: that the Oppenheimer family's control over E. Oppenheimer and Son Any mternational giant attempting [a take-over] on a share swop basis gave it an effective influence over Group affairs which exceeded that 232 Anglo American Conclusion Anglo American and South African Imperialism 233 which was immediately apparent from a perusal of the share registers finance conglomerate (Appendix 2). But, as we saw in Chapter 6, one of of the companies concerned. If this is so, then it plays havoc with these inner-core companies, Charter Consolidated, is based in Lon theoretical notions that public ownership necessarily leads to a dilution don, from where it undertakes investment on a world scale. If we ofcorporate control. On the contrary, it suggests that public ownership widen our scope to include the ten remaining companies which hold might do no more than obscure the existence of a highly centralized the majority of Group interests this same pattern of South Mrican and control structure. non-South African companies emerges. Alongside companies like Arising out ofthe analysis we have developed here, we would argue AM GOLD, AMCOAL, AMIC and AMAPROP (whose primary that under monopoly capitalism ownership and control in fact remain holdings, respectively, are in South Mrican gold, coal, industry and tightly interwoven. Certainly, we would not wish to dispute the notion property), we find a spread ofholding companies located outside South t~at the emergence of large public corporations has brought with it a Mrica: Mineral and Resources Corporation (MINORCO), Anglo ~IffuslOn ofownership; nor even would we deny that monopolies have American Corporation of Rhodesia (RHOAM), Zambian Copper In mdeed sPawned a profeSSIOnal, bureaucratic elite which administers vestments, Anglo American Corporation of Canada (AM CAN) and the day-to-day affairs ofthese large and cumbersome institutions. But, Australian Anglo American (AUSTRAM). And if we go wider still following our investigation of Anglo American, we would argue that and examine the 109 financial companies which hold many of the power may often be expressed through more subtle forms than simply Group's more important interests we find an even wider spread ofnon control over 51 per cent ofa company's shares and that the existence of South Afiican-based companies that includes: Anglo American Corpora a bureaucracy still leaves open the question of who controls the bu tion of Botswana, Zambian Anglo American Industrial Corporation, reaucrats. Consequently, we have discovered nothing in our analysis of Anglo De Beers Forest Services (Lesotho), Angloswazi Investments, Anglo which leads us to believe that the era of monopoly capitalism Anglo American Corporation of Central Afiica, Charter France, Char brings with it a dilution ofcorporate control-or, more fundamentally, ter Overseas NV (Curac;ao), Euranglo Ltd, Societa Nazionale Svilieppo an end to tbe control of massive resources by a few. On the contrary, Impresse Industriale (Italy), Anglo American Corporation of South the monopoly era only throws up new organizational forms such as Africa (Portugal), De Beers European Holdings, Bahamas Interna multinational combines, through which ever greater financial'and pro tional Trust Company, Cayman International Trust Company, Anglo ~uctive resources are brought within the reach of the few, thereby American International, Anglo American Corporation do Brazil mcreasmg their power in society a thousandfold. Limitada, Debhold Canada, Engelhard Hanovia Inc., and Anglo This leads us to the second question we wished to address: that of American Corporation ofthe United States. the international scope of Anglo American's activities. So far we have It is thus clear that (in addition to its South African-based companies) addressed the Group largely as a South Mrican-oriented concern and over the years Anglo American has established a number ofcompanies have examined the extent to which its power has increased in South whose specific purpose is to build up Group interests outside South African society. But Anglo American's activities are not confined to Africa. However, one should not assume that these are the only chan South Mrica: the Group is, in every sense, an international combine nels for the Group's non-South African investments. Most of its South whose,various interests reach across Rve continents. In concluding this Mrican-based companies also include within their portfolios a wide analYSIS of the Group we need to adopt an international perspective range ofinvestments in companies operating outside South Africa. For and look, bnelly, at its position within world capitalism. This will help instance, of the 139 subsidiaries which AMIC held in 1976, 69 were both to locate the Group in its international context and to illuminate located outside South Africa: 7 in Zimbabwe; 8 in Zambia; 2 each in an often neglected aspect of South Mrican capitalist development: its Swaziland and Mozambique; 1 each in Botswana and Liberia; 8 in Impact on international affairs. As we shall see, the world-wide net Britain; 4 in Federal Germany; 3 in the Netherlands; I each in Switzer ~ork ofeconomic relations which Anglo American is constantly forging land, Norway, Portugal, Luxembourg, Ireland, Sweden, France and IS no fr~ak phenomenon: it expresses the growing strength ofmonopoly Italy; 5 each in the United States ofAmerica and Canada; 2 in Mexico; capitalism 10 South Mrica. And in southern Mrica, where it is most 1 each in Brazil, Costa Rica, Bahamas and Chile; 7 in Australia; and I heavily.concentrated, this strength emerges in the political and each in New Zealand and the Philippines.' The spread ofinternational economIC form of imperialism. investments is thus extremely large and involves companies in a range An i~spection of the main holdings of the four ?nancial companies ofdifferent economic activities. In 1976 at least 11 ofAnglo's 27 leading which 10 1976 formed the lOner Core of Anglo s Group structure . financial companies (like banks and insurance companies) were located rellects its character as predominantly a South Mrican-based mining- outside South Africa, as were 45 ofits 193 major industrial and agricul- 234 Anglo American Conclusion Anglo American and South African Imperialism 235 tural companies.' But it is principally through mining that the Group the Central Mining-Rand Mines Group. Carried through in conjunc spreads itself internationally. tion with the American-based Engelhard Group, this coup gave Anglo In 1976 Anglo was involved in over 250 different companies which an important foot-hold on the American continent. With a stream of were active in mining in at least 22 different countries of the world. revenue now pouring out of its South African gold mines, Anglo began These interests, which included mine holding, exploration, production to reorganize its scattered non-South African interests. Consolidated and marketing concerns, were spread throughout an astonishing range Mines Selection was resurrected in London to combine these interests of minerals and included 48 gold mines (some ofwhich were uranium under a centralized control at the same time as Anglo, again in con producers as well), 31 prospecting companies, 29 diamond companies, junction with Engelhard, took control of a major Canadian mining 28 coal mines, 22 copper and nickel mines, 10 oil ventures (includiug conglomerate, the Hudson Bay Miuing and Smelting Co. No sooner North Sea oil), 7 platinum mines, 5 tin mines, 5 iron mines, 2 chrome was this take-over completed than in 1964 Anglo merged Consolidated mines, 2 lead mines, 2 vanadium mines and one mine each in uranium, Mines Selection with the recently acquired Central Mining Company asbestos, potash, soda, lime, scheelite, manganese and silver. The 22 and with another old imperialist war-horse, the Chartered (or British countries through which these interests were spread were: South Af South Africa) Co., to form Charter Consolidated. From that moment rica, Namibia, Zimbabwe, Zambia, Botswana, Lesotho, Swaziland, onwards Anglo American's international interests grew in both scope Angola, Tanzania, Mauretania, Madagascar, Britain, Ireland, Sweden, and size. France, Portugal, Canada, Australia, Brazil, Mexico, Chile and The important point here is that Anglo's growing international pres Malaysia). This vast array of companies and international opera ence corresponds exactly with the early phase of its diversified expan tions provides the basis for Anglo to link up with some of the world's sion inside South Africa. At precisely the time Anglo was creating a most important international mining companies, such as ALCAN, local money market in South Africa and taking its first major steps into American Metal Climax, Bethlehem Steel (US), International Nickel of South African industry (such as through the Highveld Steel project) it Canada, Rio Tinto Zinc, Kennecott Copper (US) and Newmont Min was also making its first significant moves to carve out an international ing. But Anglo's links with the world's leading multinationals go far presence for itself through Charter. These very different phenomena wider than just these mining companies, taking in an assortment of at iu fact do have a common origin in the gold mines of the Orange Free least 73 international banking and industrial concerns.' Thus the State. It was the revenue being generated here which provided the Anglo American Group forms an important link in a vast and complex stimulus and the financial means for both aspects of Group expansion, chain through which a relatively few massive international combines . helping to establish Anglo American not only as a diversified industrial control the bulk ofthe productive resources in the capitalist world. and financial conglomerate in South Africa, but also as a multinational We will not go into any detail here on the way in which Anglo combine. American rose to such international prominence, since that is itself a There is, however, a further aspect of Anglo's international expan major task which goes well beyond our present scope. Yet a few com sion which is of special interest-and that is the unlikely origins of ments on this theme do need to be made in order to assess correctly MINORCO, which is Charter's most important partner in the interna the relationship between Anglo's international operations and its base tional field. MINORCO began life as the Zambian Anglo American in South Africa. Perhaps most important is to identifY the precise point Corporation (ZAMA GLO), which held Anglo's interests in Zambia, in time at which this international expansion commenced. consisting mainly ofa halfshare in the country's large copper industry. Although (like all the major South African mining groups) Anglo had Following political independence the Zambian government originally been based in London, the decision to transfer the Group's nationalized the copper mines, which involved inter alia buying up 51 head office to South Africa and the subsequent collapse of the London per cent of ZAMANGLO. Full compensation was paid to the com based Consolidated Mines Selection Co. resulted in Anglo's foreign pany's shareholders in American dollars and without any restriction interests being largely neglected. Although during the I920s, 1930s heing placed on their repatriation abroad. Shortly afterwards Anglo and I940s these were built up again the new investments tended to be American established MINORCO in the Atlantic tax-haven of Ber concentrated in southern Africa, especially in Namibian and Angolan muda. Fed with revenue from the Zambian copper mines (handily diamonds and in Northern and Southern Rhodesiau copper and other converted into dollars), MINORCO became a major international force minerals. The I950s were spent mainly developing the new gold fields during the I970s. With Charter conceutrating its investment pro in South Africa, but in 1958 an event occurred which was to prove gramme on Africa, Europe and Australasia, MINORCO largely as crucial to Anglo's subsequent international expansion: the take-over of sumed responsibility for the American side, investing in Latin 236 Anglo American Canclusion Anglo American and South African Imperialism 237 America, Canada and the United States. Nor are these latter invest are turned upside down. The q~estion that underlies this debate is that ments small-scale undertakings: by the start of the 1980s MINORCO of the relationship between Anglo American and South African capital had become the largest single fnreign investor in the United States of ism. Ifone assumes that there is no integral relationship between the America (with a total revenue of $26 570m). This position was held two-that Anglo is simply a free-floating international institution wit~ ahead of established oil giants like the Royal Dutch Shell Group out a 'home base' in South Africa or anywhere else-then Anglo s (ranked second with a revenue of $19 830m) and BP (ranked third with a growing investments in the capitalist centres tell us absolutely nothing revenue of $11 023m).· It is one of the ironies of history that a struggling about centre-periphery relations under capitalism. If, on the other underdeveloped country such as Zambia should have created the origi hand, we argue that Anglo's massive presence in South.Afr~ca locates It nal wealth which enabled a South African multinational to become as a specifically Sauth African institution, then its growmg mvolv~ment subsequently the largest foreign investor in the world's most de in the capitalist centres does have implications for centre-penphery veloped capitalist state. theories of imperialism. In particular, it poses serious proble~s for These international developments establish beyond doubt that those theories which assume that imperialism promotes growth m the Anglo American can be understood in no other way than as a multina centre at the inevitable expense of the chronic underdevelopment of tional-and one of the world's more important multinationals at that. the periphery. The fuct that its highly decentralized control structure prevents the In this work we have adopted the perspective that Anglo American Anglo Group from appearing on the list of the world's top 100 com can only be understood as a South African-based multinational com panies should not deceive anyone into believing that it does not belong bine. It is the monopoly control which the Group came to exert in such exalted company. Individual Group companies, such as De primarily in South African gold and diamond mining :-vhich has been Beers and .the Anglo American Corporation itself, have on occasion the key to its subsequent success both m South Afnca. and abroad. reached the lower rungs of this list and, undoubtedly, were the Furthermore, we have argued that, primarily because ofIts pOSItIon as Group's interests to be combined for these purposes it would be a a major producer of strategic minerals, South African ca~italism has permanent fixture. However, not only is the Group large by interna undergone important economic transformatIons, breakmg free of tional standards, but the very way in which it conducts its international chronic patterns of under-development and establishing a relatively operations is an expression ofits international strength. No longer does strong industrial base (though still retaining a dependency relatIon the Group simply spread itselfacross the world on an unco-ordinated with the capitalist centres). Similarly, we have argued that.these basis: instead, it neatly divides the world up, creating Charter to take changes in the nature ofSouth African capitalism were accompa?,ed by responsibility for Group expansion in one half and MINORCO to han changes in its form, as monopoly relations permeated first mmmg and dle the other. Nor when we speak of the world in this context do we then the industrial and financial sectors of the economy, ultImately mean only the capitalist world. Recent evidence suggests that in cer giving rise to monopoly capitalism. At every stage of this process ~e tain spheres at least (such as diamonds, gold and platinum) collabora have seen that Anglo American played a deCISIve role. Of cruCIal tion takes place between Anglo American and the Soviet Union over significance here is the way in which these various processes coalesced international pricing policy.' in the late 1950s and 1960s. It was during this period that Anglo But perhaps it is through its American involvement that the Group's American, benefiting especially from its postwar investments in gold, current international strength is most aptly expressed. The fact that began to diversify into local industry, finance and property, and to tak~ Anglo should appear well ahead of such international giants as Shell, its first major steps on the road to international expansIOn. Equally, It Bp, ICI, Unilever and Volkswagen (to mention only a few) in the list of was during this period that South Africa's economy ~eveloped along foreign investors in the United States suggests a major new direction in monopoly lines. Thus Anglo's international 'take-off occurs at pre Anglo's international investment strategy. But even more startling is cisely the time South African capitalism begins to transform Itself I~to the fact that the Group commands sufficient financial resources to monopoly capitalism. The question is whether these changes are com attain such a position. Such a development, of course, may have dire cidental or whether they express another traosition: that of the evolu implications for classical theories of imperialism which assume a one tion of South African imperialism. way flow of investment (export ofcapital) from the capitalist centre to To answer this question one has to go far wider than simply record the periphery (see, for instance, Lenin, 1973b, and Frank, 1970b). ing South Africa's growing economic links internationally. In addItIon, When corporations like Anglo emerge-based in the capitalist periph one has to' look at the nature of these links, their effect on the host ery and exporting capital to the centre-it seems as if these theories economies, the political relations which accompany them and, most 238 Anglo American Conclusion Anglo American and South African Imperialism 239 important, the impact on the social classes in the host country. These itiates is carried through at precisely the time that the process of questions clearly take us well beyond our present scope and, in any mono~oly transformation in South Africa reaches new heights-that is, event, we would be foolish to try and argue that Anglo's involvement in during the 1960s and 1970s. It is thus possible that the transition to the United States of America or Britain implies that these states are monopoly capitalism in South Africa also produced the phenom~non of being colonized by South African capitalism. But what of smaller and South African imperialism. This view is in fact confirmed by an inspec weaker states which would be more susceptible to South Africa's eco tion of the nature of the links forged over this period between South nomic and political influence? Does the transition to monopoly capital Africa and Namibia and of their effects on Namibia's political and eco ism in South Africa have implications for these states and, if so, what nomic independence. In general, these links have tended to tie are they? Namibia into a position of increasingly strong dependence on South There is in fact considerable evidence that South Africa's relations African capitalism which denies its political independence, distorts its with African states, and in particular those in southern Africa, have economy and undermines its society as a whole. l2 undergone a profound change in the post-Second World War period in What seems to have happened is that in the pre-Second World War which monopoly capitalism established itself in South Africa. Namibia period, despite the fact that South Africa was in political control of provides probably the most clear-cut example of this. Although ad Namibia, South Afiican capitalism was too weak to gam any major ministered by South Africa since 1919, the relationship between South economic advantage from this relationship. As we saw. during that Africa and Namibia changed dramatically after the Second World War. period South African capitalism was itself restrained by its relationship Between 1920 and 1942 Namibia's GOP did not grow at all and by 1945 to the European imperialist powers. However, the gradual shIft m the was only 52 per cent higher than it had been in 1920. Between 1946 form of that relationship during the 1930s and after, coupled with the and 1962, however; the GOP grew by a massive 573 per cent and, important developments in South African mining and industry after between 1962 and 1973, by a further 320 per cent. W This high rate of the war, greatly strengthened South African capitalism, giving it the postwar expansion is exceptional by international standards and capacity from then on to exploit Namibia's economic potential. As th,e reHects a new direction in South African economic policy in Namibia. process ofmonopolization intensified in South Africa, so that country s Prior to the war South Africa had done virtually nothing to develop political, economic and military stranglehold over NamIbIa has tight Namibia's economic resources: state aid had been largely confined to ened. Whatever the formal legal relation between the two countnes, resettling a relatively small number ofwhite farmers and Anglo Ameri Smuts's words spoken immediately after the war-that Namibia's can had actually reduced the productive capacity of its diamond mines relationship to South Africa 'more nearly approximated to that of a in order to protect its other diamond interests. After the war, however, colonial possession than anything else'-have undoubtedly been the South African state and individual capitalists were instrumeutal in proved correct by history (cited in Wellington, 1967, p. 329). initiating Namibia's economic recovery. Anglo rejuvenated the dia But it is not just in South Africa's relationship with Namibia that the mond industry and, together with other South African and interna former's imperialistic tendencies have manifested themse.lves smce the tional monopolies, participated in a range ofother mining ventures. In war. The extremely close economic ties which South Afnca has forged 1964 the South African-appointed Odendaal Commission recom with the former High Commission Territories over tbe last few decades mended 'a broad programme of capital expenditure' in Namibia and, have inevitably undermined the political independence of these stat~s follOWing this, the South African state began pumping money into the as well. In 1965 South Africa's Prime Minister, Dr Verwoerd, stated: I Namibian economy (at least R150m was injected between 1964 and believe that the one thing which really counts in international relation 1969)." The question is: what was it that produced this volte face in ships is common economic interests. So far as these region Tanzania, Upper Volta and Paraguay. Such a theory should not only be dunng the Ifl?Os and 1970s, extending into Mozambique, Angola, sharply critical of traditional notions of 'development' and 'under MalaWi, ZambIa and (as It then was) Rhodesia. Nor has this influence development', but should also question whether historical notions of been confined to southern Africa. The South African state's 'outward' 'centre' and 'periphery' still have the same meaning today as before. policy of th~ 1960s, its 'dialogue' policy of the early 1970s and its Does it in fact make sense to argue, as we have done in the preceding dete~te. poltcy of the late 1970s were all intended to promote South paragraph, that South Africa is still located on the periphery of world Afnca s mfluence throughout the African continent. And even today, capitalism or is such an approach not too 'geographically' determined? though revolutions in Angola, Mozambique and Zimbabwe have forced Should we not rather speak ofSouth Africa as being today a part of a the South African state to change tack and adopt a more militaristic wider capitalist centre, but if so, how then do we distinguish it from policy, the fundamental drive towards outward expansion-towards the position of the older imperialist powers? And what, too, of the imperialist domination-is stronger than ever. changing relations among these latter powers and, especially, of the It is n~t our purpose here to analyse whether or not this expansionist implications of Britain's current industrial decline? Today the pro poltcy Will be success~l, nor even to analyse the social and political cesses of economic and political change are developing more rapidly forces whICh are bUlldmg up in opposition. All we are concerned to do than ever before and theories of imperialism which remain locked in is to establish that South Africa's transition to monopoly capitalism has the events and conditions of the early years of this century are hope be.e~ ~ccompanied by a ~rresponding drive towards imperialism. If lessly inadequate as explanations of these modern developments. thIs IS m fact the case then It means that, even though its influence is as There is an urgent necessity to produce a theory of imperialism which yet largely confined only to southern Africa, South Africa has become can satisfactorily answer the kinds of questions which this study of an active participant in forging the international network of economic South Africa has raised. :md political relations which constitutes the modern system of imperial Thus to conclude we would briefly sum up our findings on the nature Ism. As such South Afnca can no longer be classified as simply an of Anglo American and its relationship to South African capitalism underdeveloped Third World country, but rather must be ranked as an today as follows. The Anglo American Group has evolved into a multi i~perialist power located on the periphery of world capitalism. Cer national combine which is engaged on a world scale in a wide range of tamly, because of its historical location, South Africa is considerably economic activities ofwhich mining is the most important. These inter weaker than those 'more traditional' imperialist powers which are ests--and therefore the Group's influence-reach out from a power locatedin the capitalist centres. Yet it would be quite wrong to assume base which is firmly rooted in South African society. That society itself that thIs means that therefore these powers will willingly exert pres is far from static. Over the past one hundred years it has transformed sure to force South Africa to abandon policies of which they might itselffrom an underdeveloped chattel ofimperialism into an aggressive dIsapprove. Though the South African economy remains technologi imperialist power which exhibits many of the characteristics of a mo cally dependent on the major imperialist powers, the links between nopoly capitalist society. Foremost among these is the decisive power South Africa and these powers, especially through monopoly invest which monopoly groups like Anglo American wield within that society. ments, trade and finance, are so firmly integrated that it would be Yet ifover the past century Anglo American and South African capital almost unthinkable that these imperialist powers would be willing to ism have achieved an awesome degree ofpower it is as well to remem use thIS technologICal dependence as a weapon against South Africa. ber that in the process they have also created a countervailing force The position which South African capitalism has achieved for itselfis which may well have the potential to wrest that power from them. The therefore one which makes a nonsense ofany imperialist theory which capitalist class which developed the world's largest gold fields has also argues that perpetual underdevelopment and economic backwardness produced the largest proletariat in Africa. are inevitable consequences for countries on the capitalist periphery. Cl~arly, the case ofSouth Africa (as well as ofothers like Brazil) poses senous problems for theories which base themselves either on the historical experiences ofthe early twentieth century or on the current 242 Anglo American
NOTES 1. Financial Mail, Special Survey, 'Inside the Anglo Power House', p. 17. 2. These holdings, which were split equally between the two, involved 13.25 million shares apiece in 1973; 13.34 million apiece in 1976; and 18,33 million apiece in 1979. (Anglo American Corp. of SA, Annual Report, 1973, 1976 and 1979.) 3. Para. 166(c)(i) of the company's Articles of Association stated: 'The shares shall be uncler the control of the Directors, who may allot issue or otherwise dispose ofthe same to such person or persons at such times and with stIch rights and privileges and generally on such terms and conditions and either at a premium or otherwise as the Directors may think fit.' See also para. 166(c)(ii). 4. Letter to Mr. H. Oppenheimer from H. B. Samuel, dated 2 September 1966. 5. AMIC, Annual Report, 1976, pp. 28-30. 6. Among Anglo's more important financial interests outside South Africa were: British and Rhodesian Discount House, Southampton Assurance Co. of Rhodesia, Rhode sian Acceptances, Merchant Bank (Zambia) Ltd, Standard Bank ofAngola, Standard Bank of Mozambique, Standard Charter Bank Group, Compagnie Financiere de Paris et des Pays-Bas, and International Pacific Corp. (Australia) Ltd. Among Anglo's more important industrial interests outside South Africa were: Chilanga Cement, Durham Industries of Canada, Dunlop (Zambia), Duncan Gil bey and Matheson (Zambia), Explosives (Zambia), Engelhard Industries, Indus triade Caju Mocita (Mozambique), Kenya Fertilizers, Mozambique Fisheries, Metal Fabricators of Zambia, National Milling Company (Zambia), Zambia Breweries, Rhodesian Diamond and Carbide, Rhodesian Iron and Steel Corp., Rhodesian Al loys, South Wales Group, Scandiamant Aktiebolag, Terra Chemicals International, Rhodesian Milling Co., UnHor (Zambia), Werff Brothers, White Pass and Yukon, Wendt GMBH, Zinc Oxides of Canada, Zambia Clay Industries, Ultra High Pres sure Units (Ireland), De Beers Industrial Diamond Division (Ireland), Industrias de Caju, Antenes SARL, Gerencia Industrial Limitada, and Christensen and Boart Oilfield Products. (See Appendix 2.) 7. These include: Banca Commerciale Italiane, Banque de Paris et des Pays~Bas, Credit Foncier Franco-Canadien, Barclays Bank, Bowater Paper, Cayzer Group, British Steel Corp., Rheem International, Computer Sciences Corp., Cory Mann George, Deutsche Bank, Dunlop, Eastern Stainless Steel, First National City Bank of New York, leI. IMI Japan, Johnson Matthey, Kleinwort Benson, Kl6chner and Co., KZO, Volvo, Mazda, Lazard Brothers, Manbre and Gartons, Mitsubishi, Mit sui, Morgan Grenfell, Morgan Guaranty Trust, Nalco Chemicals, P. & O. Shipping Group, Petrofina, Rothschilds, Royal Dutch Shell, Selection Trust, Societe Generale BeIge, Societe Nationale des Petroles d'Aquitaine, Somic, Standard Char~ tered Bank, Standard Oil ofIndiana, Titan Products, Union Bank ofSwitzerland, US Natural Oil, United Transport, Metropolitan Vickers, and Weyerhauser. In addition the Group is linked in one way or another in productive ventures with at least eight different governments: those of South- Africa, Chile, Iran, Swaziland, Botswana, Tanzania, the United Kingdom and Zambia. (See Appendix 3.) 8. Forbes, Special Report; Spotlight on International Business, 6 July 1981, pp, 83-91. 9. 'Cold and Diamonds: The Kremlin Connection', BBCl Panorama programme, 6 April 1981. 10. The figures for the CDP were as follows: 1920-R13.0m; 1942-R12.2m; 1945 RI9,8m; 1946-R21.8m; 1962-RI46.7m; and 1973-R615,6m. (Report of the Commission of Inquiry into South West African Affairs, 1962-3, RP no. 12/1964, p. 319; and SA Department of Statistics, South West Africa Survey 1974, p. 33.) II. For details ofthese various economic changes and for an assessment ofSouth African state policy see Innes (1981b, also 1978). 12. For details see the articles cited above. 13. Cited in South African Institute of Race Relations, A Survey of Race Relations in South Africa 1966 (1007).