Anglo American marks a year of significant progress with the launch of its Transformation Report: "Embracing the Challenge of Change”

Anglo American South Africa has released its Transformation Report, providing a transparent account of how it is looking to embrace change and transformation, and contribute to South Africa’s long-term sustainable development.

2007 heralded a number of significant transformation milestones for the Group culminating in the conversion of old order mining rights for all operations with the exception of two platinum joint ventures.

Seven empowerment deals valued at more than R50 billion were successfully completed; BEE procurement and enterprise development spend rose by 41% to R17.3 billion; Historically Disadvantaged South Africans in management grew to 42% (18% of these being female, up from 14% in the previous year); and a milestone zero tolerance safety policy was implemented, tangibly demonstrating the Group’s prioritisation of employee well being.

The report details examples of Anglo American’s continued commitment to South Africa which accounted for 44% of the Group’s turnover and 45% of profits in 2007. Since its establishment in 1999, the company has invested R197 billion in real terms into the SA economy, making it the largest private sector investor.

Philip Baum, Anglo American South Africa’s former Acting Chief Executive said:
“The Transformation Report sets out some of the ways in which Anglo American embraces the challenges of change by contributing to South Africa’s long-term sustainable development. Anglo American addresses these challenges by promoting social, economic and cultural transformation.”

Anglo American is a recognised CSI leader in South Africa, and 2007 was a year of significant investment, with CSI expenditure totalling R288.5 million. Over the same period Anglo American Chairman’s Fund supported 290 projects totalling R70 million and Anglo Zimele supported a total of 66 businesses which provided jobs for 4,403 people through its three funds representing a total funding value of R77 million.

On BEE, Philip Baum added:
“From a personal point of view, I have found it highly rewarding to have been involved in the shaping of Anglo’s BEE policies and establishment of our small business unit, Anglo Zimele, in 1989. This unit facilitates entry for emerging black business into South Africa’s economic mainstream. External recognition is affirmation that we are succeeding in our goals and in November 2007, Anglo Zimele clinched a double win at the South African BigNews Enterprise Development Awards.”

2007 marked a significant turning point in Anglo’s safety approach with safety standards and procedures being declared as non-negotiable. Sadly, fatalities for the year in South Africa totalled 32, although improvements are beginning to be seen. The Group remains committed to seeing through its zero tolerance safety policy.

Kuseni Dlamini, Anglo American’s new Head of Anglo American South Africa, said:
“These achievements would not be possible without the commitment of Anglo American’s employees, whom we thank sincerely for their continued effort and commitment. I look forward to working with them to build upon these successes in the year ahead and to continue to achieve our goals of sustainable and broad based empowerment. ”

Anglo’s commitment to the development of its employees is visible in last year’s training spend which amounted to R2.3 billion. Anglo was also the first corporate to offer free anti-retroviral therapy to all HIV-positive employees and achieved a 70% voluntary counselling and testing participation rate in 2007.