Group companies completed a number of significant black economic empowerment (BEE) deals, including the award winning Kumba deal, which saw the company split into Exxaro, now the largest black-owned and managed mining company listed on the JSE, and Kumba Iron Ore, an Anglo American subsidiary, which also listed on the JSE.
At the end of 2006, Anglo American had undertaken BEE transactions to the value of R49.6 billion ($7.3 billion) – in real 2006 money terms – since 1994. With the transactions currently under negotiation this will ensure that Anglo American's BEE ownership exceeds the 26% target set for 2014.
The Mining Charter sets a number of criteria against which mining companies are measured. These include employment equity, human resource development, procurement, ownership, migrant labour, housing and communities, beneficiation, mine community and rural development.
