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Anglo 'stole our money' - Mantashe

Jan 22 2013 12:26 Reuters

Gwede Mantashe. (File, Beeld)

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Johannesburg - Shares of global mining giant Anglo American [JSE:AGL] fell over 2% after a top ANC official said the mining firm's plans to cut 14 000 jobs underscored the need for South Africa to take a "bigger interest and control" of the sector. 

At 09:45 GMT, the company's shares in Johannesburg traded 2.16% lower at R263.00. 

ANC's secretary general Gwede Mantashe also said in an interview on SAFM radio that Anglo had "stolen our money and listed in the London Stock Exchange and have become a British company. That company was built on the back of South African capital and labour."

Anglo, which moved its primary listing to London from Johannesburg over a decade ago, says the job cuts and shaft closures are needed to restore profitability to its platinum arm, Anglo Platinum [JSE:AMS] (Amplats). 

Amplats shares are 1.9% lower.

 

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