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Anglo won't dump SA, Cutifani assures

Johannesburg - Mining company Anglo American [JSE:AGL] remains committed to South Africa despite various challenges in the industry, it was reported on Monday.

CEO Mark Cutifani was speaking to shareholders in London, and moved to allay fears the mining giant would withdraw from South Africa, Business Day reported.

"Our share price is languishing compared to our peers, and we are not being rewarded for the potential we have.

"In that context, let me say that I recognise that South Africa remains critical to our shareholder value proposition. Likewise, we remain important to South Africa's longer-term development prospects," he was quoted saying.

According to the report, Mineral Resources Minister Susan Shabangu warned that the mining company belonged to South Africa.

"Mark, this Anglo American plc, it's ours. It's a South African company," she reportedly told him at an event marking Cutifani's departure from Anglo Gold Ashanti last month.

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