Anglo American shifts board to better reflect South Africa



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When Indian metals tycoon Anil Agarwal voted against the appointment of a new member of the board.

The miner, he said, should increase the number of South Africans on its board to reflect the importance of "Anglo American's businesses in South Africa."

The FTSE 100 quickly hit back saying its next boardroom address would "reinforce its experience" in relation to South Africa – a plan it has now delivered.

Anglo was founded more than 100 years ago in South Africa, where it still has significant iron ore, coal and platinum badets.

On Wednesday, Anglo said Nixonia Nyasulu and Nonkululeko Nyembezi would join the board as non-executive directors over the next six months.

At the same time, Nolitha Fakude, another South African, will be a non-executive director and executive director of Anglo's management board in the country.

"Hixonia Nyasulu has a unique and highly respected global board of experience in the natural resources, financial services and consumer industries," said Anglo Chairman Stuart Chambers.

"Equally, Nonkululeko Nyembezi's engineering background and extensive experience spanning mining, steel, financial services and technology in South African and global organizations offers great breadth of insights, both technical and strategic," he added.

Volcano, Mr Agarwal's family trust, effectively owns 20 percent stake in Anglo, making the Indian billionaire the company's biggest shareholder.

Instead of investing billions of dollars in a new mine in Peru, Mr Agrawal said he would make better returns in Africa, a view not universally shared across the mining industry.

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