For more than a century South Africa’s mining sector has been the backbone of the economy, the catalyst for wave after wave of industrialisation, and the foundation on which many communities and other industries have been built. Anglo American’s merger with Teck is designed to contribute to South Africa’s ongoing success.
This week Anglo American’s shareholders (a significant contingent of whom are South African) overwhelmingly approved the merger with Teck — a decisive vote that marks the beginning of an exciting new chapter in our evolution.
The approval paves the way for the formation of Anglo Teck, a company that will be one of the world’s leading critical minerals champions and a top-five global copper producer, with a leading position in the premium iron ore industry and further growth optionality embedded across the portfolio.
This approval confirms a simple truth: the future of global mining belongs to companies able to scale, diversify and deepen their technical advantage to meet the world’s most urgent need: a sustainable, secure supply of critical minerals.
Mining continues to play an indispensable role in South Africa’s economy. In 2024 it contributed more than R432bn to GDP, supported many millions of livelihoods across direct and indirect value chains, and remains one of the country’s most competitive export engines.
However, these numbers only tell part of the story. Mining is more than a driver of GDP and revenue. It’s a sector that empowers communities, sustains livelihoods and helps build a dignified and hopeful future for millions of South Africans.
Anglo American has been integral to this industrial backbone for more than a century, and the merger with Teck strengthens our ability to contribute meaningfully for decades to come.
Anglo American has been integral to this industrial backbone for more than a century, and the merger with Teck strengthens our ability to contribute meaningfully for decades to come. A larger and more financially resilient company means we will be even better positioned to invest in South Africa’s and Southern Africa’s mining future.
Kumba Iron Ore and our Joburg office — which serves as a professional and technical hub for the global group and will be the springboard for our continued initiatives across the African continent — remain central to our strategy.
Our JSE listing plays a key part in our global capital markets footprint, soon to host a far larger global company providing direct investment access for our substantial shareholder base in South Africa, led by the Public Investment Corporation (PIC), which invests on behalf of millions of South African public servants.
South Africa continues to benefit substantially from our multifaceted interests in our great country. In 2024 alone Anglo American contributed R111bn to the South African economy. Kumba delivered R57bn in shared value through taxes, royalties, local procurement, dividends and community investment — benefiting partners such as Exxaro, the Industrial Development Corporation, the PIC and the SIOC Community Development Trust.
In 2024 alone Anglo American contributed R111bn to the South African economy.
Since 2018 we have invested more than R150bn in capital projects in South Africa — the largest of any mining company in the country, including R33.8bn at Venetia Underground, R8.5bn at Kolomela and R11.2bn for the technologically advanced ultrahigh-dense-media-separation (UHDMS) plant at Sishen that is leading the way to support green steelmaking.
Equally important is the broader South African mining ecosystem we have helped build. Over the past decade and more, several companies that grew up within the Anglo-American family have become champions in their own right.
Today, Exxaro, Thungela, Seriti, African Rainbow Minerals, Valterra and others are thriving contributors to South Africa’s economy — employing thousands, paying billions in taxes and royalties, and investing directly into host communities. Their success demonstrates a powerful truth: responsible corporate stewardship can strengthen the entire sector, broadening ownership and deepening national resilience.
What is clear, is that the future of our country’s mining industry will not be determined by geology alone. It will depend on the strength of our partnerships between government, business, labour, academia and communities.
The merger with Teck reinforces this developmental trajectory and our commitment to shared prosperity. Anglo Teck will invest R600m to support the country’s junior mining exploration — a critical activity at the very start of the mining value chain — catalysing greater inclusion and participation of black-owned exploration companies to rebuild South Africa’s mineral pipeline — a strategic national priority.
Anglo Teck will also support the establishment of a critical minerals institute with one leg squarely here in South Africa, helping the country on its pathway to deliver its Critical Minerals & Metals Strategy.
Social impact programmes
Naturally, our substantial investments in social impact programmes in education, health, enterprise development, youth development and the fight against gender-based violence (GBV) also continue, alongside our ongoing work to strengthen South African economic growth and development potential.
Mining has long been the engine of South Africa. With the right partnerships, it will continue to power its future. Great companies must evolve to thrive. Standing still is not an option. Shareholders’ approval of our merger with Teck marks the next turn of our evolution wheel, wholly cognisant of our deep roots, right here.
The merger positions us to build on more than a century of astounding partnership with South Africa and its people to make a reality of our country’s ambitions. Together, we are truly mining potential and building beyond.
• Fakude chairs Anglo American in South Africa.
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