Anglo American and AngloGold Ashanti among world's top mining firms
Two South African mining firms – Anglo American and AngloGold Ashanti – have been listed among 40 largest mining firms across the globe. The list is part of new analysis produced by Big Four accounting and advisory firm PwC, which shows that the mining sector is performing well across the globe.
The promising performance shows that the sector appears to have recovered from a global dip in oil and commodity prices in 2014, which considerably dented revenues across the globe. In South Africa, revenues and market capitalisation have suffered a sustained period of slow growth as a result of the 2014 crisis.
Mining is an essential part of South Africa’s economic productivity, and several experts have been working to rescue the sector in recent years. The improvement in fortunes for the global mining sector is likely to rub off in the South African context, particularly for the larger mining companies.
Anglo American and AngloGold Ashanti belong to this category, and are among the 40 largest mining companies in the world. The former is known globally for its substantial diamond and platinum production, in addition to a number of other metals such as copper, nickel and iron ore in smaller quantities.
The firm was established in Johannesburg in 1917, and has since evolved into a modern mining institution, with an employee-focused approach to growth and steady investment in technology. In addition to South Africa, Anglo American has a base in London, and operations across Latin America, India, China and Australia, among others.
AngloGold Ashanti is the other South African name on the list. The firm was founded in 1998 in Johannesburg, and has since grown into a global profile, with 19 operations across the USA, Latin America and Australia. With gold being the firm’s primary product, AngloGold Ashanti has made its way to being the third largest gold mining company in the world, when measured by production.
AngloGold Ashanti works across the entire mining production change, starting with exploration and extending all the way to the production of refined gold. The firm is listed atop the Johannesburg Stock Exchange, in addition to being listed in New York, Australia and Ghana.
Both mining firms have made significant changes to their operations in recent times, in line with global trends of digitalising the mining process to make it more time and resource efficient. Globally, these changes have proved a boon for the mining sector, given that revenues from the top 40 mining companies have grown by more than $680 billion worldwide. In 2015, this figure stood at less than $540 billion.
