by Hulisani Rasivhaga

Anglo American backs BRICS Summit

Anglo American renders support to DIRCO

Khanyisile Kweyama: executive director at Anglo American SA
ANGLO.jpg

In line with Anglo American’s drive to work with government on shared goals and objectives, the company is partnering with the Department of International Relations and Co-operation (DIRCO) in hosting the fifth annual BRICS (Brazil, Russia, India, China, South Africa) Summit. 

The Summit is being hosted from 26 to 27 March 2013 in South Africa at the Durban International Convention Centre (ICC). Anglo American is one of a host of South African companies partnering DIRCO in support of the BRICS Summit.

Anglo American’s support of the BRICS Summit is indicative of its commitment to the future of South Africa and its proud 96-year history in the country. Four of Anglo American’s core commodities are in South Africa, namely platinum, diamonds, iron ore and thermal coal, while the chief executives of four of its business units are based in the country. In 2012, 35% of the group’s operating assets, 45% of its revenue and 54% of its operating profit originated in South Africa.

The group is a significant investor in the country, having invested R173.4-billion ($23.9bn) in capital expenditure between 1999 and 2011, and paid R14.14bn in direct and indirect taxes in 2012. 

Further, Anglo American is a major contributor to South African foreign earnings, having generated export revenues of R103.1bn in 2012, with the market capitalisation of the company representing 8% of the value of the Johannesburg Stock Exchange top 100, as of 31 December 2012. 

Anglo American executive director in South Africa, Khanyisile Kweyama, concludes that the company is proud to be involved with the BRICS Summit, and plans to use the platform to provide valuable assistance. 

“Undoubtedly, the BRICS Summit in Durban offers a unique opportunity for BRICS countries to extend and advance their co-operation in ways that meaningfully promote the economic development agenda of other developing countries and regions.      

“Anglo American is therefore proud to have the opportunity to be involved with the BRICS Summit, and welcomes the summit’s efforts to strengthen relationships and trade partnerships between the BRICS countries.”  

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