Mining Rights Conversion
South African Department of Minerals and Energy grants new order mining rights conversions to Anglo American
The South African Department of Minerals and Energy (“DME”) and Anglo American announce that, following their joint announcement made on 20 February 2008, conversions to new order mining rights in respect of Anglo American’s mining operations in South Africa have now been granted. This relates to the conversion of all the mineral rights in Anglo American’s South African Coal, Ferrous Metals, Base Metals and Platinum businesses. The applications for conversion of mineral rights associated with Anglo Platinum’s 50:50 joint ventures with Royal Bafokeng Resources and the African Rainbow Minerals consortium continue and are being processed based on joint submissions and representations by all stakeholders.
Ms Buyelwa Sonjica, Minister of Minerals and Energy, said: “The granting of conversions to subsidiaries of South Africa’s largest mining company, Anglo American, is a mark of progress for the country’s transformation. It has also resulted in the creation of two HDSA controlled platinum companies, as well as HDSA participation in Anglo’s coal business. I am happy to be making this announcement today.”
Cynthia Carroll, CEO of Anglo American, said, "I am delighted that we have been granted new order mining rights across our South African mining operations and I would like to thank all those, at the Department of Minerals and Energy and within Anglo American, who worked so hard to complete the necessary documentation in recent weeks. This significant achievement provides an ever stronger platform for our $5 billion of growth projects and 120,000 employees and contractors in South Africa and for the many black empowered businesses with which we are partnered. This is good news for Anglo American and for South Africa and I look forward to ongoing strong and cooperative relationships with the South African government and our partners as Anglo American continues to grow its businesses and contribute to the country’s economic prosperity.”
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