JOHANNESBURG - While Anglogold faces a potential takeover offer from BHP and a major restructuring plan a not-for-profit organization says there’s a lot more at stake than just mining in South Africa.
Anglo American has rejected two offers from BHP that would see the company – that has operated in South Africa for more than 100 years, basically leave the country.
In response it has also moved forward a restructuring plan that will see it divest or demerge from its platinum, steel making, coal and diamond businesses in South Africa. Although it will remain the owner of Kumba Iron Ore.
Years ago Anglo spun off it’s stake in gold mining in South Africa.
Well a pioneering education institute says what else is at stake is what Anglo represents to South African society, and that’s something that those in boardrooms and far flung places should consider.
Dr Taddy Blecher is the CEO of the Maharishi Invincibility Institute.
Last year Anglo American donated it’s historic building on 45 Main Street in Johannesburg to the Institute that offers quality education and job placements to young people in the CBD.