Anglo Still Sees Africa as Future Frontier Amid Footprint Shift

Anglo American’s CEO, Duncan Wanblad FREng, has reaffirmed the company’s enduring commitment to Africa, describing the continent as pivotal to its long-term growth strategy despite the group’s ongoing portfolio restructuring. Speaking amid significant corporate transitions, including asset sales, mergers, and portfolio optimization, Wanblad emphasized that Africa’s vast endowment of energy transition metals such as copper, cobalt, lithium, and rare earth elements positions it as a cornerstone of Anglo’s future. His remarks signal that while the company is streamlining its operations globally, its strategic outlook remains firmly anchored in Africa’s resource potential and economic promise.

In recent years, Anglo American has divested several of its traditional assets in South Africa, marking the end of an era in coal and platinum production. The company’s only remaining major South African holding is Kumba Iron Ore, a leading producer that continues to generate stable returns. Meanwhile, Anglo is in the process of selling De Beers, its iconic diamond subsidiary, as part of a shift toward a more copper- and critical-minerals-focused portfolio. The diamond market, though volatile in recent years, is showing early signs of recovery, and De Beers has already attracted strong interest from potential acquirers, including Angola’s state-owned diamond company, Endiama, suggesting continued investor confidence in African diamond assets.

A key highlight of Anglo’s evolving strategy is its recent merger agreement with Teck Resources, a move designed to consolidate its position in the global copper market. This transaction follows Anglo’s successful defense against a takeover attempt by rival miner BHP, underscoring its determination to retain strategic independence and pursue disciplined growth. Copper, alongside other transition metals, is central to global decarbonization efforts, powering electric vehicles, renewable energy infrastructure, and next-generation battery technologies. For Anglo, strengthening its copper portfolio is therefore both a commercial and sustainability-driven decision.

Despite the perception of retrenchment from traditional sectors, Wanblad’s statements make clear that Anglo American sees Africa not as a past chapter but as a future frontier. With vast undeveloped mineral reserves and growing government support for responsible mining, the continent offers fertile ground for the next wave of green-metal projects. Wanblad hinted that Anglo could not only rebuild but potentially expand its African footprint, leveraging new technologies, cleaner extraction methods, and partnerships aligned with sustainable development goals.

In the broader context, Anglo American’s evolving Africa strategy highlights the continent’s rising importance in the global race for critical minerals. By refocusing on metals central to the clean energy transition, Anglo is aligning its operations with future market trends while reaffirming its historical role as one of Africa’s leading mining investors. For Africa, continued engagement with global players like Anglo could translate into renewed investment flows, job creation, and technological transfer, factors essential to strengthening its role in the 21st-century resource economy.

Mini-Glossary

• Energy Transition Metals: Minerals such as copper, lithium, cobalt, and rare earth elements that are essential for renewable energy technologies and electric vehicles.
• Portfolio Restructuring: The process of reorganizing a company’s assets and operations to focus on higher-value or strategic segments.
• Kumba Iron Ore: A South African mining company majority-owned by Anglo American, specializing in high-grade iron ore production.
• De Beers: One of the world’s largest diamond companies, historically central to Anglo American’s portfolio.
• Teck Resources: A Canadian mining firm with strong copper and zinc assets, recently merged with Anglo American to enhance copper production capacity.
• Decarbonization: The process of reducing carbon dioxide emissions through cleaner technologies and energy sources.