Anonymous 11/04/2022 (Fri) 18:18 No.84740 del

“100 Years of Anglo American” – Part 2
Below are excerpts

Thus, just weeks after Mandela’s release Relly resigned and announced that his deputy, Julian Ogilvie Thompson, would take over.

In naming JOT, as he is familiarly known, as his successor, the company was firmly sticking to its inherent South African-British aristocratic-esque character. Born in Cape Town and the son of a former chief justice, JOT was a Rhodes scholar and an Oxford politics, philosophy and economics graduate.

He joined the company in 1957 as Harry’s personal assistant, was moulded in the Oppenheimer business style, and climbed the executive ranks to become chair of the corporation’s international arm, Minorco, in 1982. He became deputy chair of the company in 1983, and chair of De Beers in 1985. JOT was an Anglo-De Beers man to his core.

-In fact, it was under his leadership that Anglo American underwent the most significant and irrevocable corporate transformation of its history. The merger with its offshore investment arm, Minorco, in 1998 catapulted the company from a proudly South African mining group to an international industrial powerhouse that was not only valued at £13 billion, but now a member of the elite FTSE 100 Index. Given the far more global character of the company and a desire to attract international investors, it was decided to switch the company’s primary listing and head office to London in 1999.

Many people, however, point out that Anglo American’s first empowerment deal actually occurred decades earlier with the creation of Gencor in the 1960s out of the Afrikaner-controlled Federale Mynbou and General Mining.

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