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Anglo American Presentation Martha Sekaboane Joshua Burns Alvaro Vega Nelson Silva Emma Coombs Sizwe Mdikane Thabazimbi Mine, South Africa Capcoal Colliery, Australia Los Bronces Mine, Chile Los Bronces Mine, Chile Capcoal Colliery, Australia New Vaal Colliery, South Africa TRANSFORMATION IN ANGLO AMERICAN SOUTH AFRICA PRESENTATION TO THE PORTFOLIO COMMITTEE ON MINERAL RESOURCES Godfrey Gomwe Lindiwe Zikhali 02 November 2011 CONTENTS 1. Anglo American in South Africa Today 2. Mining Charter Progress to Date 3. Contributions beyond the Mining Charter 4. Appendices 1. Ownership and Joint Ventures – List of Transactions 2. Anglo American’s Commitment to South Africa 2 1. ANGLO AMERICAN IN SOUTH AFRICA TODAY 3 A NATIONAL CHAMPION Founded in Johannesburg , Anglo American has a 94-year history in South Africa • Today, a global company with operations in >40 countries; however South Africa remains the single most important country to the Group • 3 out of the Group’s 7 Commodity Business Units are globally managed from South Africa • 4 Business unit CEOs based in South Africa and 8 out of 15 ExCo members are South African • In 2010, c.43% of the Group’s operating assets, c.48% of its revenue and c.51% of its operating profit had their origin in Southern Africa • Anglo American is an employer of choice to c. 91, 500 employees in South Africa Roof bolt installation using a remotely controlled drill at Tumela mine 4 Anglo American South Africa Today Presentation to the Portfolio Committee on Mineral Resources, 02 November 2011 BUSINESS OVERVIEW South Africa Simplified Structure The Group has a number of assets which (as at 31 December 2010 ) are strategic to South Africa: Anglo American South Africa Ltd • Anglo Platinum (c.79% owned) – the world’s (AASA) leading platinum producer, accounting for c.39% of global supply Anglo SA (Proprietary) Ltd • Kumba Iron Ore (c.65% owned) – the world’s 4th largest iron ore producer in the seaborne iron ore market Anglo Anglo SA Capital Operations (Proprietary) Ltd • Thermal Coal (100% owned) – one of the world’s Ltd largest private sector coal producers and exporters Anglo • De Beers (45% owned) – the world’s leading Kumba Thermal Coal American De Beers diamond business Iron Ore Thermal Coal is a Platinum division of AOL 100% • Other: Samancor Manganese (40% owned) – the 79.7% 65.3% 45.0% of “B” world’s largest integrated producer of manganese shares ore; Exxaro – flagship BEE mining company in South Africa (9.7%) Other: Samancor – 40% Exxaro – 9.7% • Anglo American South Africa Limited (AASA) is the holding company for all of Anglo American’s interests in South Africa 5 Anglo American South Africa Today Presentation to the Portfolio Committee on Mineral Resources, 02 November 2011 OPERATING FOOTPRINT In 2010 Anglo American had over 30 mines and shared access to 3 THERMAL COAL ports in South Africa 1. Greenside 2. Goedehoop 3. Kleinkopje Western Limb Eastern Limb Zimbabwe 4. Landau PLATINUM 1. Dishaba 13. Mogalakwena 5. Kriel 6. New Denmark 2. Tumela 14. Bokoni Mozambique 3. Union 15. Ga-Phasha (JV) 1 7. New Vaal 13 4. Bafokeng/Rasimone (JV) 16. Twickeham Mine 8. Mafube 14 1 5. Khuseleka 17. Modikwa 15 Botswana 9. Isibonelo 16 6. Thembelani 18. Mototolo (JV) 10. Zibulo 17 2 7. BthBathope le 1 2 IRON ORE AND 18 8. Khomanani 3 MANGANESE 1 9. Siphumelele 4 1. Sishen 2 3 10 10. Kroondal 3 2 2. Thabazimbi 5 7 7 4 1 5 11. Marikana 6 8 9 11 9 6 3. Hotazel 10 12. Pandora 12 2 3 DIAMONDS Richards Bay 1. Venetia 2. Kimberley SOUTH AFRICA 3. Voorspoed OTHER MINING AND INDUSTRIALS Saldanha Bay 1. Palabora 2. Scaw Metals Port Elizabeth 6 Anglo American South Africa Today Presentation to the Portfolio Committee on Mineral Resources, 02 November 2011 A MAJOR CONTRIBUTOR TO SOUTH AFRICA’S ECONOMY Anglo American is: A significant investor in South Africa • Invested c. R148bn (c.$21.1bn) in Capex in South Africa since 1999 (till 2010) One of the largest contributors to the South African fiscus • In 2010, Anglo American group companies paid c.R14.3bn (c.$1.95bn) in direct and indirect taxes A major contributor to South African foreign earnings • c.50% of South Africa’s foreign earnings are generated from commodity exports • Since its London listing in 1999, Anglo American’s foreign shareholding has increased from about 17% to c.66%, resulting in a total of c. R124.5bn (c. US$21.5bn) of capital inflow. Generated export revenues of c.R105bn (c.$14.3bn) in 2010 A significant contributor to the South African economy • In 2010 Anglo American produced some 2.5% of South Africa’s GDP One of the largest components of the JSE (together with its controlled companies) • Combined market capitalisation of c.R770bn (c. US$90bn), representing c.18% of the value of JSE top 100 as of 31 December 2010 • South African shareholders make up c. 34% of AA plc Share Register A key partner to some of South Africa’s most important state-owned enterprises • Eskom: In 2010, Anglo American spent c.R3.1bn (c. US$423m) with Eskom, and delivered 32 million tonnes of thermal coal ~R4.6bn (c. US$630m) to Eskom for South Africa’s electricity needs • Transnet: c. R4.1bn (()gc.US$560m) Anglo American spend on Transnet in 2010 7 Anglo American South Africa Today Presentation to the Portfolio Committee on Mineral Resources, 02 November 2011 A CONSIDERABLE PROJECT PIPELINE IN SOUTH AFRICA Anglo American has a c. R30bn (US$4. 4bn) project pipeline to be delivered over the next 3 years in South Africa • Iron Ore: – Kolomela project 94% complete, hot commissioning started in Q3 2011 • Thermal Coal: – 6.6 million tonnes of coal per annum Zibulo project is on ramp-up, with full production expected in Q4 2012 – New Largo project (to supply Eskom’s Kusile power station) is in feasibility stage , with Board approval to be sought by Q3 2012 • Platinum: Kolomela Iron Ore Project Commissioning, Postmasburg, – Capital expenditure of c. R1.6bn (US$223m) in Northern Cape the first half of 2011 on various expansion projects at Thembelani, Mogalakwena, Twickenham, Khuseleka and Dishaba mines 8 Anglo American South Africa Today Presentation to the Portfolio Committee on Mineral Resources, 02 November 2011 2. MINING CHARTER PROGRESS TO DATE 9 OWNERSHIP AND JOINT VENTURES Mine planning office, Tumela Platinum Mine 10 OWNERSHIP AND JOINT VENTURES ANGLO AMERICAN EMPOWERMENT TRANSACTIONS Business Unit Transaction Empowerment partners Anglo American has completed all necessary Thermal Coal 26% of current Pamodzi, Women’s empowerment transactions, and has - Anglo American and future Development Bank, Lithemba, received its conversions to new order mining Inyosi Coal production workforce, communities and Eyesizwe Coal rights Iron Ore 26% of equity Exxaro, workforce, communities - Kumba Iron Ore • c.R60bn in BEE transac tions conc lu de d s ince Manganese 26%f% of equity Exxaro, Ntsimbintle, Ncab, Iziko, 1994 across all business units - Samancor workforce, communities • Significant facilitation provided Platinum Greater than 26% Mvelaphanda, Anooraq, Royal - Anglo Platinum of production Bafokeng, ARM, workforce, • Broad-based participation ensured: strategic communities shareholders, communities, employees Other Mining and 26% of equity Exxaro, Izingwe Holdings, Industrial Shanduka Resources, Southern - Scaw Metals Palace Holdings, workforce, All group company employees are ESOP - Black Mountain communities participants - Gamsberg Diamonds 26% of equity Ponahalo (inc. communities), - De Beers workforce Community participation a key focus • Direct participation of communities affected by Anglo American’s empowerment transactions have led to the mining operations in the benefits they generate creation of flagship black-owned mining companies e.g. Exxaro • Transactions aimed at sustainable, long term Resources, ARM , Mvelaphanda/Afripalm and Shanduka economic uplift of mining areas Resources. In many cases, Anglo American has contributed directly towards vendor financing for empowerment partners to ensure financial viability and long-term success of the transaction 11 Original / Revised Mining Charter Presentation to the Portfolio Committee on Mineral Resources, 02 November 2011 COMMUNITY SHARE OWNERSHIP Project Lefa La Rona – Anglo American Platinum : Sishen Iron Ore Community Trust: • Anglo American Platinum has committed to concluding a • As part of the Sishen Iron Ore (SIOC) Black groundbreaking multi-billion rand broad-based economic Economic Empowerment transaction, the empowerment ownership transaction company empowered the communities • Beneficiary communities: Twickenham, Mogalakwena, Rustenburg and Amandelbult operations as well as key surroundingggp its mining operation with a 3% Labour Sending Areas shareholding, held by the SIOC Community • New approach that emphasises broad-based economic Development Trust. empowerment and engagement with the beneficiary communities • The key objective was to help the • Taking Anglo American Platinum beyond legislative commu nities to become both empow ered and compliance economically active in a way that would be sustainable even after mining ceased. “Zuma unveils R3,5 billion share scheme in Limpopo” Apr 07,2011,6:46:00 PM, SABC • The communityypp’s stake was paid up in 2010 President Jacob Zuma unveiled a groundbreaking R3,5 billion share scheme in Anglo Platinum in Limpopo. This to benefit • Current community shareholding is estimated communities in its mining lands… The R3,5 billion Project Alchemy is a community share scheme. Its been set up to drive to be worth R6.3bn, with money flowing to the sustainable socio-economic development for people living
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