Listed Mining Companies
Diversified miner Anglo American, headed by CEO Cynthia Carroll, will be investing another R9,9-billion when it follows its 79,72% rights next month in Anglo Platinum's R12,5-billion rights issue and also pursues its 45% rights it has in De Beers, in which it will invest another $450-million in the diamond company's $1-billion capital raising. This follows the $500-million loan that Anglo extended to De Beers in April, in what De Beers MD Gareth Penny described as "additional subordinated loan funding". De Beers said in July that it would not need to negotiate any further funding, but later came forth with the $1-billion rights issue. Anglo Platinum CFO Bongani Nqwababa tells Mining Weekly that the platinum company has R33-billion of committed loan facilities in place but has opted to go the way of the rights issue in order to steady the ship for the long haul.
