Anglo American PLC
19 February 2003
News Release
19 February 2003
Anglo American plc ("Anglo American") responds to publication of scorecard
Anglo American welcomes the publication of the scorecard, which has been the
subject of a lengthy period of consultation between the industry and the South
African Department of Mineral and Energy Affairs over the last seven months.
Anglo American, through its subsidiaries and associates, believes that a
workable solution has been achieved and further believes that its operations are
broadly compliant with the objectives set out in the scorecard. In particular,
Anglo American has made significant progress towards attaining the 15% equity
ownership level through a number of major black economic empowerment
initiatives. The attainment of the 26% target in ten years will require further
empowerment transactions for value during that period.
Tony Trahar, Chief Executive of Anglo American said, "The publishing of the
scorecard is a very significant step towards removing the uncertainty that has
existed regarding empowerment targets in the South African mining sector. We
will aim to meet the targets set out in the Mining Charter within the specified
timeframe. To date Anglo American and its subsidiaries have made significant
progress in achieving over $1.8 billion of black empowerment transactions and
over $800 million of procurement from black owned businesses. We are fully
supportive of the aims to broaden employment equity and HDSA influence and
ownership within the mining industry".
For further information:
Anglo American - London
Investor Relations Media Relations
Nick von Schirnding Kate Aindow
Tel: +44 207 698 8540 Tel: +44 207 698 8619
Anglo American - Johannesburg
Investor Relations Media Relations
Anne Dunn Marion Dixon
Tel: +27 11 638 4730 Tel: +27 11 638 3001
Notes to Editors:
Anglo American plc is one of the world's largest mining and natural resource
groups. With its subsidiaries, joint ventures and associates, it is a global
leader in gold, platinum group metals and diamonds, with significant interests
in coal, base and ferrous metals, industrial minerals and forest products. The
group is geographically diverse, with operations in Africa, Europe, South and
North America and Australia. (www.angloamerican.co.uk)
This information is provided by RNS
The company news service from the London Stock Exchange
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