Anglo American CEO Duncan Wanblad has reaffirmed the company’s long-term commitment to Africa, saying the continent remains central to its strategy due to its abundance of critical minerals — even as the mining giant reduces its footprint there.
Speaking at a mining conference in Johannesburg on Wednesday, Wanblad said Africa’s vast and largely untapped resources will play a key role in meeting global demand for minerals essential to the clean energy transition.
“I look at what the world needs in terms of minerals — I think Africa is the place to be,” Wanblad said. “Hopefully, we’ll be as big as we were in Africa in a couple of years’ time.”
Anglo American, founded in South Africa more than a century ago, has recently exited its coal and platinum operations in the country and is in the process of selling its diamond subsidiary, De Beers. The company is now prioritizing copper, a metal critical to renewable energy technologies and electric vehicles.
Kumba Iron Ore remains Anglo’s only major operation in South Africa. Despite this reduced presence, Wanblad said the company intends to use South Africa as a strategic base for broader exploration across the continent.
Africa hosts some of the world’s largest deposits of copper, cobalt, lithium, and rare earth elements — key components in solar panels, batteries, and electric vehicles.
After fending off a takeover attempt by Australia’s BHP earlier this year, Anglo American announced plans to merge with Canada’s Teck Resources to form a major copper-focused entity.
Wanblad also noted signs of recovery in the diamond market following a three-year price slump, adding that De Beers has drawn “real strategic interest” from multiple potential investors. By June, at least six prospective buyers had expressed interest, including Angola’s state diamond firm Endiama, which confirmed a bid for a minority stake.
“These are parties that know the industry, that know the assets, that love diamonds. And that’s all very positive,” Wanblad said.
Source:Africa Publicity
