Anglo American CEO Warns Against Nationalisation

(www.abndigital.com)
The head of African mining giant Anglo American has launched a broadside against nationalization. Cynthia Carroll the CEO of Anglo American warned that Nationalisation was the road to ruin. This is one of the bluntest public statements by a high profile mining figure to date. ABN Senior Journalist Chris Bishop reports from the Mining Indaba in Cape Town.

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News & Politics

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• Anglo
• American
• Warns
• Against
• Nationalisation
• Cynthia Carroll

[bassreeves1965]

fuck,you call what was done to blacks benefitting you must be one of the middle class blacks whgere 80 percent of the land is in the hands of a white aggressive minority. Plus science has shown that whites and asians have traits of a non-human aggressive neanderthal species that will always oppresse them, the whites some how have to be removed! he is just too dangerous.

[JohnRhysMusician]

@bassreeves1965 Africa has benefitted enormously from colonisation. South Africans, including during Apartheid, enjoyed the highest standards of living in sub-saharan Africa. Don't be so down on the whites.

[bassreeves1965]

@JohnRhysMusician should the whiteman be allowed to benefit from his crimes in south(AZANIA)AFRIKA,you all need to be run out into ocean your family as well. ONE SETTLER ONE BULLET!!!!!!!!!!!!!.

[gonzalo060375]

Covering 1/3 of the world demand of copper, having 2/3 of the production in foreign hands, and with a population that is quickly learning about this looting, I think Chile will nationalize their mining more sooner than later.

Considering that copper is a top national priority, with China as a top importer, and building good cooperation with the rest of South America, I don't think a boicott from UK/US would hit us harder than the looting that AA and the other multinationals are now doing.

[gonzalo060375]

This doesn't work as a world recipe, it just works for the specific case where AA can supply the know-how and money, that a country lacks for doing the job on its own.

No longer the case in Chile: Their state-owned copper mining company, Codelco, produces 11% of the world copper alone. 2/3 of the mining production is in foreign companies like AA, which pay way less taxes than what they should, taking advantage of some caveats of the Chile's legal system.

[JohnRhysMusician]

@Nenadnash They have been owned by US and UK corporations and investors from the very beginning of modern South Africa, and they pay local tax as do their employees. South Africa's primary problems that are inhibiting economic growth are 1. unskilled work force, 2. high wages, 3. government corruption, and 4. high crime. A branch of my family has been in South Africa since the early 1900s and I understand these issues very well.

[Nenadnash]

@JohnRhysMusician South Africa's infrastructure decayed because they are out of money, and why? The only sources of their income are rich mines that THEY have in THEIR Country. Since the mines are now held by US and UK corporations, all the income is going out of South Africa..and what about the taxes, is the government taxing those businesses? No, absolutely not, the South African government is bribed to lower the taxes or, even eliminate them..Trading partners?? ridiculous..

[JohnRhysMusician]

@Nenadnash You assume that the state will be able to effectively sell and operate the businesses. South Africa's major trading partners, the United States and United Kingdom would immediately put sanctions on the government and its businesses, which many like Anglo-American are owned by American and British investors. South Africa's infrastructure has decayed because the present government has failed to invest effectively. South Africa already provides free K-12 education for the poor.

[Nenadnash]

@JohnRhysMusician I don't think so..they need to nationalize all of their mines in order to prevent accumulation of capital into the corporate hands..only then their collective progress will be assured, and they could support larger infrastructure, bigger army, Universal State provided healthcare and free education..

[JohnRhysMusician]

If South Africa goes along this state participation route it will be doomed to failure.