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IIII

Anglo Americanand the Riseof Modern South Mrica

Duncan Innes

(@MONTHLY REVIEW PRESSNEW YORK

Copyright © 1984 by Duncan InnesAll rights reserved

Library of Congress Cataloging in Publication DataInnes, Duncan.

Anglo American and the rise of modern South Africa.

Bihliography, p.Includes index.

1. Anglo American Corporation of.South Africa, Ltd.History. 2. South Africa-Economic conditions.3. Mineral industries-South Africa-History. 4. SouthAfrica-Industries_History. I. Title.

HD9506. S74A534 1983 338.7'622342'0968 83-42523ISBN 0-85345-628_3ISBN 0-85345-629-1 (pbk.)

Monthly Review Press155 West 23rd StreetNew York, N. Y. l0011

Manufactured in the United States of America

10 9 8 7 6 5 4 3 2 1

For my father, and to the .memories ofmy mother and sUiter

Rectangle

APPENDIX 2

A Survey of theAnglo American Group of Companies

INTRODUCTION

This appendix lists and provides information on 656 companies in the AngloAmerican Croup. The list is not a fully comprehensive record, but is the mostextensive public compilation of those companies involved with the Group up tothe end of 1976.

The appendix is divided info two parts. The first lists the most important 14holding companies in the Group. isolating the 6 companies which form thecore of Group structure. Information on the cross-holdings among these 6, andon some of the cross-holdings among the 14 companies, is also provided. Adiagram is included.

The second and major part of the appendix lists those companies which formthe bulk of the Anglo American Group. Documentation is presented, for thesake of clarity, in four columns.

1 The first column provides the name of the company which forms a part ofthe Group. These names are presented in alphabetical categories, all theAs, Bs, Cs, etc., being grouped together. The companies within eachcategory-for example, within the As-are not placed in any order.

2 The second column provides the link with the Group: that is, the name ofthe holding company within the Anglo American Group, which holds Anglo's interest in the company named in column 1. \Vhere more than onecompany is known to be involved the names are supplied. The holdingarrangements within the Group structure are extremely complex and thiscolumn represents a somewhat simplified version (that is, intermediateholding companies have often been omitted). This has been done so as tobe able to show as clearly as possible the links that exist between thecompanies mentioned in column 1 and those 14 companies which form theGroup's inner circle. Thus column 2 provides the name of one of the 14companies (regardless of whether it has a direct or indirect holding) or, ifthe holding is through an important holding company which is not includedin the 14, then that company is named in column 2. But in this latterinstance the derivation to the 14 can still be found by looking up in column1 the name of the holding company mentioned in column 2, and therebydiscovering its link with the 14. For instance, if in column 1 we have'Barnato Bros Ltd', then column 2 will give us the name of the Anglo Group

271

III

272 Appendix 2

holding company, in this case 'Jer. But 'JC~' is not 'part of the.inne~ circleof 14 companies and therefore in ?rder to discover Its conn~ch~~ with the14 (and thereby the connection of Barnato Bros) we look up JCI m column1: column 2 at that point shows AAe, De Beers, Randsel-the three companies in the inner core. Thus all companies presented in column 1 canultimately be traced back to the inner 14.

3 Column 3 gives the size of the shares which the company named in colu~n2 holds in the company named in column 1. Sometimes, where the precisefigure is not known, the terms 'Min[ority)' or 'Maj[orityr are used. Th,eterm 'majority' does not necessarily mean that an interest of 51 per cent IS

held, but can also imply that effective control is exercised through a holding of less than 51 per cent. Where possible in these cases the means·through which this control is exercised are given.

4 Column 4 provides some information, where possible, on the nature ofactivity of the company mentioned in column 1.

Finally, this survey was compiled from data relating mainly to Group activityin 1976. While all information contained herein is known to have been accuratethen, a group the size of Anglo American is constantly e~pandingand changingand the Appendix does not reflect these changes. For mstance, one companylisted here in column 1, 'R. D. Development Ltd', has subsequently beenplaced in liquidation and its assets taken over by its hol~ing, companies, theA. A. C., Randsel and Charter (shown in column 2). Agam, Boart and HardMetal Products' (shown in column 1 and in column 2 in various other places)has recently changed its name to 'Boart International Ltd'. Caution shouldtherefore be exercised in using the data presented in this Appendix.

THE ANGLO AMERICAN GROUP OF COMPANIES

The main holding companies in the Anglo American Group are as follows:

The Anglo American Corporation of South African (AAe)De Beers Consolidated Mines (De Beers)Charter Cousolidated (Charter)Rand Selection Corporation (Randsel)Anglo American Iuvestment Trust (ANAMINT)Minerals and Resources Corporation (MINORCO)Anglo American Gold Investment (AMGOLD)Anglo American Industrial Corporation (AMIC)Anglo American Coal Investment (AMCOAL)Anglo American Properties (AMAPROP)Zambian Copper Investments (ZCI)Anglo American Corporation ofCauada (AMCAN)Anglo American Corporation Rhodesia (RHOAM)Australian Anglo American (AUSTRAM)

Of these fourteen companies the most important are the first six: AAC, DeBeers, Charter, Randsel, ANAMINT and MINORCO. These six companiesform the inner core of the Anglo Group. They have holdings in each other as

Appendix 2 273

well as in the other eight companies. Their holdings in the fourteen topcompanies are as follows:

I AAC holds iuterests in: De Beers, ANAMINT, AMGOLD, AMIC, AMCOAL, AMAPROp, Charter, MINORCO, AMCAN, RHOAM, AUSTRAM

2 De Beers holds interests in: AAC, Randsel, AMIC, AMAPROp, AMCAN,RHOAM, AUSTRAM

3 Randse! holds interests in: AAC, De Beers, ANAMINT, AMGOLD,AMIC, AMCOAL, AMAPROP, Charter, MINORCO, AMCAN, RHOAM,AUSTRAM

4 Charter holds interests in: AAC, ANAMINT, MINORCO, AMCAN,RHOAM, AUSTRAM

5 ANAMINT holds interest in: De Beers6 MINORCO holds iuterests in: ZCI, RHOAM, AUSTRAM

These cross-holdings are represented in Figure 6. As can be seen, the bigfour holding companies are the AAC, De Beers, Randsel and Charter, followedby ANAMINT and MINORCO and then the remaining eight. All the rest ofthe companies in which the Group participates throughout the world can,ultimately, be traced back to at least one of these fourteen holding companies.Those remaining companies are listed below in alphabetical categories incolumn L

274 Appendix 2 Appendix 2 275

;.. ",

0 Z... Size of Nature

~ ~;..~ holding of

'" :::~ '" ~

0> Name of company Anglo holding company (%) operation

~~ 0> ~ 0~ Z~ -l Cl African & European AAC 100 Holds coal in-

I' ~ Investments Ltd terests".. Anseld Holdings Ltd AAC, Randsel 100 Holding co.~ll, Anglo American Prop- AAC 100 Holds property~

00"" crty Leasing Ltd~

I,~ Anmercosa Lands & AAC 100 Owns office

w a=: Estates blocks used by~

~

S-Group cos

~'" Anmercosa Mozambi- AAC 50 Oil and gas:..~ que Oil Holdings prospecting

'5- Apex Mines AAC (part of Gold Min. Supplies coal to:..

I!~

Fields Group) Highveld Steel

'"~. Anglo American Corp. AAC 100 Holds mining

[I

00

2 of Central Africa and industrial~

('l interests

<l Anglo American Pros- AAC, Randsel, Over Prospecting

I "" pecting (Rhodesia) RHOAM 50

,I Anglo American AAC, Randsel, Over ProspectingRhodesia Mineral Ex- RHOAM 50... " ploration

I0 ~

"'"

000- Anglo American Inter- AAC, Charter~ 50 Finance

0> ::: w !?.

I r;: 0 national

'" Anglo Chemical Ore MineraI trading

Ien Z AAC, Charter 65

Co. co.

Anrnercosa Sales AAC, Charter 100 Sells output of

... Group minesen w Anglo American Corp. Holding US in-... AAC, Charter, Randsel Over

:::: of the US 50 terests~ Cl Abrasive Grit Sales ANAMINT, De Beers, About Sales channelZ '"0 "t3

~ ICI 33

" "0 ~ Adamint Laboratories De Beers 100 Diamond re-O search

Apex Holdings Ltd De Beers (through De 50 Holds interests

lli]Beers Ind. Corp.) in chemical cos

<'BAfrican Explosives & De Beers (through De 42.5 ManufacturesChemical Industries Beers Ind. Corp.) explosives,

chemicals, fer-tilizers, etc.


Size of Nature Size of Nature

holding of holding of

Name of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation

Associated Mines Charter 49 Anglo American Corp. AAC, AM GOLD Maj. Holding co. for

(Malaysia) do Brasil Limitada Anglo's Brazil-

Argus Printing & Pub- AAC, ICI and Charter About Newspaperian interests

lishing Ltd (through Barlow Rand) 40 group Anglo De Beers Forest De Beers Maj. Owns interests

Aluminum Investment AAC, Charter (through 10 Interests in Services (Lesotho) Ltd in Lesotho

Co. Barlow Rand) light metals Afrikander Lease Ltd AAC 12.2 Gold mine

African Wire Ropes AMIC, AAC, Charter 6 Makes wire Anglo American Corp. New Rhodesia Invest- 100Ltd (throngh Barlow Rand) rope Services ments

Air & General Engi- AAC, Charter (through 50 Makes re- Anglo American New Rhodesia Invest- 100neering Barlow Rand) frigerator and (Rhodesian Services) ments

air conditioning Ltdequipment Appraised Securities New Rhodesia Invest- 100

Ainsworth (Ply) Ltd ICI Engineerin~ Ltd ments

II co. African Eagle Life As- Randsel 75 Randsel ac-

1[1AndeoT ICI Over surance Society Ltd quired this in-

I 50 surance co,

1\, African Asbestos-Ce- jClwhen it took

ment Corp.over Schlezin-

III Agnew Lake Mines AMCAN 10 Uranium minesger Group

I LtdAmalgamated Col- AMCOAL Maj. Operates coal

lieries of SA Ltd mine and ownsAfrican Products AMIC 8.8 Processes SpringfieldManufacturing Co. maize to pro- CollieriesLtd duce starch,

Anglo Power Collieries Maj. Coal mineglucose, etc.

AMCOAL

Anglo-Transvaal Indus- AMIC Part of Anglo- African Gold & Base AAC Maj. Holding co. for

tries Transvaal Metal Holdings Ltd some Anglo

Groupmining inter-ests

Anglo American RHOAM 100 Holds propertyAfrican Loans & In- AAC Maj. Oppenheimer

Rhodesia De- interests invelopment Rhodesia (now vestments family involved

Zimhahwe) AMRHO Investments AAC Maj.

Anglo American Corp. MINORCO, Charter 100 Holds Bots-Ltd

of Botswana wana interests Anglo American Corp. AAC Maj.

Associated Manganese AMIC Min. Controlled byof SA (Portugal) SARL

Mines of SA Ltd Anglo-Vaal; Angloswazi Invest~ AAC Maj. Holds some

has loan and ments Ltd Anglo interests

share agree- in Swaziland

ments with US Anglux Ltd, SA AAC Maj. Registered inSteel Luxembourg





Ayer Hitah Tin Dredg- Charter Min. Mines tin in ministers citrus

iugeo. Malaysia and forest es-

Ansa Petroleum Be- AAC Min.tates in

perkRhodesia

Anglo American In- AMIC 100 Part oftheAnglo American Corp. AAC Maj. Service co. to

dustrial Finance Co. AMIC GreopManagement & Ser- the Group

Ivices AG

Ltd cos

Anglo American In- AMIC 100 Part of theAnglo American Corp. AAC Maj. Service co. to

IIdustrial Investments AMIC Group

Services the Group

Ltd cos Anglo American Gold AAC Maj. Service co. to

Acme Timber Indus- AAC Maj.Development Co. Ltd the Group

Ii tries Ltd Anglo American Inter- AAC Maj.

IIIAtkinson Oates Motors McCarthy Rodway Maj. Retail motor

national (U K) Ltd

Ltd firm Anglo American lnter- AAC Maj. Provides ser-

Anglo American (OFS) Provides hous-national Services Ltd vices to Anglo's

IIAMAPROP Maj. international

Housing Co. Ltd ing in OFS for divisionemployees ofassociated cos Anglo American AAC Maj. Provides ser~

11 Amaprop McCarthy AMAPROp, AAC Maj.(Rhodesian Services) vices to Anglo's

Investments LtdLtd Rhodesian divi-

sionAnglo American Pros- AAC Maj. Prospecting Anglo Botswana Ser~ AAC Maj. Provides ser-peeting Co. Ltd co. vices Ltd vices to Bots-Anglo American Pros~ AAC Maj. Prospecting co. wana divisionpeeting Co. (South) Anglo Charter Interna- AAC Maj. Provides ser-Ltd tional Services Ltd vices to Char-Anglo American Pros- AAC Maj. Prospecting co. ter Grouppecting Services Ltd Anmercosa Computer AAC Maj.Anmercosa Canadian AAC Maj. Prospecting co. ServicesExploration Ltd in Canada

Anmersales AG AAC Maj.Australian Anglo AAC, AUSTRAM Maj. Prospecting co. Australian Anglo AAC Maj. Provides ser-American Searches in AustraliaLtd

American Services Ltd vices to Austra-lian division

Australian Anglo AAC, AUSTRAM Maj. Prospecting co.American Ventures in Australia Blyvooruitzicht Min- AAC, AMGOLD, Char- Over Gold andLtd iug Co. ter, Randsel (adminis- 33 uranium min-

Anglo American AAC Maj. Hires rolling tered by Rand Mines) ing on the W.

Rhodesian De- stock to the Rand

velopment Corp. Ltd Rhodesian Rail- Buffelsfontein Mining AAC, AM GOLD, Rand- Over Gold andways. Also ad- Co. sel (administered by 33 uranium mine

General Mining) on Klerksdorp

Appendix 2 281280 Appendix 21,


holding of holding ofName of company Anglo holding company (%) operation

IName of company Anglo holding company (%) operation

AAC Min. Coal mine Bamangwato Conces- MINORCO Min. Owns

IBalgray Collieries

sions Selebi-PikweBotswana Exploration AAC 100 Exploration copperJnickel& Mining Co. and mining mine in Bets-

il Brakspruit Platinum Charter, AAC, Barlow About Involved in wanaRand 80 marketing

Baluea Mines MINORCO 13 Copper mine in

I'platinum Zambia

Beralt Tin & Wolfram Charter 46 Mines wolfram Barotseland Explora- zamanglo Exploration Prospecting co.Mines (Portugal) in Portugal tion Ltd in Zambia

I Barlow Myers Charter 49 Suppliers of en- Botswana RST Ltd Anglo American Bots- Min. Holds 85% ofgineering wana Bomangwato

I equipment concessionsBamato Bros JCI 100 Diamond mer- Boskop Areas (West AAC Min. Prospecting co.

chants Wits) LtdBarberton Iron & JCI 100 Engineering Blue Skies (Private) New Rhodesia Invest- 100Steel Ltd co. Ltd mentsBaffinland Iron AMCAN (tbrough Hud- 19 Owns iron de- Blesbok Colliery Ltd AMCOAL Maj. Coal mine,

son Bay Mining & posit on Baffin subsidiary toSmelting Co.) Island AMCOAL

Beaver Exploration AMCAN (througb Hud- 100 Prospecting co. Bracken Mines Ltd AAC,AMGOLD Min. Gold mine ad-son Bay Exploration & ministered out~Development) side Group

Boart & Hard Metal AMIC 100 Makes diamond Baffinland Iron Mines Hudson Bay Mining 19 Owns iron de-Products drilling crowns, Ltd posit on Baffin

tungsten car- Islandbide steels.

AAC Min. Coal mine ad-Has 100 sub- Blinkpan Koolmynesidiaries in 28 Beperk ministered out-different coun- side Grouptries Bruynzeel Holdings AMIC 100 Holds anum-

Barlow Raud Ltd AAC, Raudsel, AMIC About Formed by a Ltd ber of interests20 merger of Rand Bruynzeel Plywoods Bruyuzeel Holdings 66.2 Manufactures

Mines & Thos. Ltd veneers, ply-Barlow. Mining wood, block-and engi- board,neering clipboard. etc.

Binclura Refining & RHOAM (through 100 Boart Diamond Prod- Boart & Hard Metals Maj. Boart GroupSmelting Co. Rhodesia Nickel Corp.) uets Ltd manufacturesBwana M'Kubwa Min- MINORCO 49 Copper mine in and markets

various types ofingeo. Zambiadiamond and

282 Appendix 2Appendix 2 283




tungsten car- Cons. Share Registers AAC, Randsel 66.7bide tipped Creative Homes Ltd AAC, AMAPROP About Property de-drilling tools 50 veloper around

Boart Drilling Ltd Soart & Hard Metals Maj. as above CapeTown

Boart Drilling & Con- Boart & Hard Metals Maj. as above Carlton Centre Ltd AAC, Randse!' AMAP- About Building com-

tracting (Rhodesia) LtdROP 50 plex (shops,

Boart Hard Metals Ltd Soart & Hard Metals Maj. Carbide tippedoffices) in

drilling toolsJ'burg

Soart Hard Metals Boart & Hard Metals Maj. as for SoartChemical Holdings AAC 22.3 Holds chemical

(Europe) Ltd GroupLtd interests

Soart Hard Metals Soart & Hard Metals Maj. as for SoartComputer Sciences AAC 70.5 Supplier of

(Canada) Ltd Group(SA) Ltd computing

Soart Products Boart & Hard Metals Maj. as for Soartequipment

Cashew Investments AAC, Randsel 100 Investment co.Rhodesia Ltd Group Ltd

Boart Tools Ltd Boart & Hard Metals Maj. as for Boart Coke Producers (Pty) AAC Coal producersGroup

Min.Ltd selling organi-

Boart International Boart & Hard Metals Maj. as for Boart zation

(Luxembourg) SAM Group Cons. Diamond Mines De Beers 97.9 Owns and

Bowater Associated In- AAC Maj. ofSW Africa mines the rich-

dustriesest gem dia-

Balamundi SA Ltd SA Board Mills Converts feltmond field in

base paper intothe world

floor coverings, Central Selling Or- De Beers Maj. Sells diamondsetc. ganization

Barratts Industries Ltd AAC Min. Industrial Cons. Co. Bultfontein De Beers 58.8 Holds propertygroup in SA Mines leased to De

Border Forests AAC Min.Beers

(Rhodesia) Companhio des De Beers Min. Prospecting

Bay Passage Invest- AMAPROP Maj. Diamantes d'Angola and mining co.

ments Ltd(Diamang) in Angola

Bryanston Hobart AMAPROP Maj. Shopping com- Coronation Collieries Randsel, AMCOAL 77.5 Coal mine

Shopping Centre Ltd plex in J'burg Charter France SA Charter

Bahamas International AAC Maj. Finance co. Cape Asbestos Co. Ltd Charter 60.5

Trust Co. Ltd based in Ba- Cape Asbestos Fibres Charter (tbrough Cape Maj. Markets outputhamas forworld invest-

Asbestos) of mines

ment Cleveland Potash Charter 50 Potash mine in

British & Rhodesian AAC Maj. Operates onthe Midlands

Discount House Ltd money marketUK with lCI


Size of NatureSize of Nature

holding ofholding of


(50%). For use Christensen & Boart AMIC (through Boart & 50 Provides drill·

in manufactur- Oilfield Products Ltd Hard Metals) iog equipment

iug fertilizersfor oil explora-

Covenant Industries Charter 37 Chemical salestion and mining

company(mostly in SA)

operating in Contractual Holdings AMIC (through Boart & 100

East, West and (Zambia) Hard Metals) &

Central Africa MINORCO

(with ICI) Charter Properties RHOAM 100 Rhodesian

Charter Overseas NV Charter Maj. Finances in- (Pty) Ltd property co.

(Cura~ao)vestment of Clay Products (Pty) RHOAM 25 ManufacturesGroup outside Ltd clay products

sterling area Chilanga Cement MINORCO (through 75 Produces ce-

Chisangwa Mines Ltd Charter, MINORCO 49 zambian cop- zambian Anglo Ameri- mentper mine can Ind. Corp.)

Cape Portland Cement AAC, Charter (through Min. Makes cement Chartered Exploration MINORCO (through 66 Mineral pros-

Barlow Rand) Zamanglo Exploration) peeting co.

Comer House Invest- AAC, Charter (through Maj. Invests in min- Cons. Mines Holdings New Rhodesia Invest~ 100

ment Co. Barlow Rand) ing and indus- (Rhodesia) Ltd mentstry Cape Industries Ltd Charter 63.2 Manufactures

Conning & Co. Ltd AAC, Charter (through Min. building and

Barlow Rand)insulation, light

City Deep AAC, Charter (through 100 Gold Mineengineering

Barlow Rand)and other prod-

AAC, Charter (through 100 Gold mineucts

Cons. Main ReefBarlow Rand)

Charter Cons. Invest- Charter 100 Issuing house

AAC, Charter (through 100 Gold minements Ltd in Charter

Crown MinesGroup

Barlow Rand) Cardium Holdings Ltd De Beers Ind. Corp. 13.3

Comerhouse (Pty) Ltd AAC, Charter (through 100 Owns office

Barlow Rand) building of Canadian Merrill Ltd Hudson Bay Mining 23 Has oil and gas

Rand Minesinterests

offices Contractual Holdings Boart & Hard Metals Maj.

Cons. Murchison (Tvl) JCI (part of Anglo Tvl At least Mines anti~ Computer Advances Computer Sciences 100 Markets parent

Goldfields &De- Group) GCI are techni- 15 many concen- (Ply) Ltd co.'s hardware

velopment Co. cal advisers) trates and smallCentral Reserves Ltd

quantities ofAAC Maj.

gold Central Reserves AAC Maj.

Conway Farm (Ply) JCI Maj. Produces tim-(Rhodesia) (Private)

Ltdber

Ltd


Size of NatureSize of Nature


Name of company Anglo holding company (%) operationName of company Anglo holding company (%) operation

Chemical Holdings AAC Min. ManufacturesDewhurst Farms Ltd AAC, Randsel Maj. Distribution

Ltd and distributesand sales co.

chemicals to in-for fresh pro-

dustryduce

Coronation Industrials Tongaat Group Maj. Makes buildingDe Beers Holdings De Beers 100 Holds De

Ltd materialsBeers's indus-trial interests,

Carltoo Hotels Ltd AAC Part of Carlton mainly throughCentre com- its interests inplex "De Beers Ind.

C. T. Bowring & As- AAC Min.Corp.

sociates Holdings (SA) De Beers Industrial AMIC, De Beers 85 Holds most of

Ltd Corp. De Beers's in-

Cullinan Holdings Ltd AACdustrial inter-

Cabana Beach De- AMAPROP Maj. Property de-ests

velopment Ltd velopment co. Diamond Producers' De Beers Maj. Combination of

on Natal coasts Association South African

CDL Properties (Dur- AMAPROP Maj.producers, sellsdiamonds to

ban) Central Selling

Charter Properties Ltd AMAPROP Maj. Organization

Crescent De- AMAPROP Maj. Diamond Purchasing De Beers, ANAMINT, 77.5 Buys from the

velopments Ltd & Trading CO. JCI DPA (above)

Cayman International AAC Maj. Finance co.and Diamond

Trust Co. Ltd based in Cay~Corp. and sells

man Islands forto the Diamond

world invest-Trading Co.

ment Diamond Trading Co. De Beers, ANAMINT, 88 Sells diamonds

Compagnie Financiere AAC FinanceJCl to retailers

de Paris et des Pays- co-formed with De Beers Botswana De Beers 85 Diamond mine

Bas Banque de Mining Co. (Orapa in Botswana

Paris et des Mine)Pays~Bas D/KI Diamond Min- De Beers 85 Diamond mine

Cape Verde Ltd AAC Min. Prospecting co. ing Co. in Botswana

Compagnie Financiere AAC Maj. General invest- Debhold Canada De Beers 100 Holds De

Eurafricaine ment co. Beers's inter-

Cello Securities Ltdests in AMCAN

Durban Roodepoort AAC, Charter (through 100 Gold mine

Diamond Corp. De Beers, AAC 100 Diamond sell- Deep Barlow Rand)ing co. Markets Dryden Engineering . AAC, Charter (through 40 Manufacturing% of world's Co. Barlow Rand) and selling or-diamond pro-duction

ganization


Size of Nature Size of Natureholding of holding of


Down Town Real Es~ ICI Property dealer

Ipanies in Ire-

tate Co. and developer land

De Niza Mining Co. AMCAN (through Hud- 25 Diacarb Ltd Boar! & Hard Metals Maj.son Bay Co.)

;!Debshan Ranches Ltd Soetvelde 100 Owns an exten-

Durham Industries of AMCAN (through Hud- 100 sive cattleCanada son Bay Co.) ranching opera-

Dunlop (Zambia) Ltd MlNORCO (through 25 Produces and ~I tion at Gwelo,

ZAAlC) sells tyres l Rhodesia

Duncan, Gilbey & MlNORCO (through 24.5 Dawn Orchards Ltd Soetvelde 100 Produces to-

Matheson (Zambia) Zambian Anglo Ameri- matoes, vegeta-

Ltd cau Ind. Corp.) bles and fruitfrom the N.

Delmas Ltd General Mining Colliery co. Transvaalcontrolled by

Duropenta Holdings AE&CI 100Gen. Min.

Daggafontein Mines AAC,AMGOLD Maj. Gold mine ad- Dorsic Holdings Ltd SA Nylon Spinners 100Ltd ministered by David Whitehead & Tongaat Group Maj. Produces tex-

Anglo Sons (SA) tiles

De Beers Lesotho De Beers Maj. Operates theW. Rand goldMining Co. Letseng-le-Te- Elsburg Gold Mining ICI, AAC, AMGOLD,

rai diamond Co. Randsel mine adminis-

mine in tered by ICI

Lesotho Epoch Investments AAC, Randsel 100 Investment co.

Debhold (Canada) Ltd De Beers Holdings Maj. Interested in Ltd

Canadian min- Euranglo (Pty) Ltd AAC, Randsel, Charter 100 Holds 50% ofing and pros- FrancowSA In-peets vestment Co.

De Beers European De Beers Holdings Maj. Interested in II with Banque de

Holdings SA Australian Paris et des

Anglo Ameri- ;1 Pays Bas

can EWing McDonald (Pty) Randsel

De Beers Industrial De Beers Maj. The outlet for Ltd

Diamond Division Ltd sale of De East Driefontein Min- Randsel Min. Gold Mine ad-Beers drilling ing Co. ministered byand boart, Gold Fieldsholds De Beers Elastic Rail Spike Charter Min. Produces railspatents for in- Groupdustrial dia-monds Explosives (Zambia) Charter About Manufactures

De Beers Industrial De Beers Maj. Provides tech-Ltd 50 explosives with

Diamond Division nical services toICI

(Ireland) Ltd De Beers com- Elevators & Engl- Charter 25 Manufacturersneering Ltd



Name of company Anglo holding company (%) operation Name of company Anglo holdin~ company (%) operation

East Rand Proprietary AAC, Charter (through Min. Gold mine ad- Free State Geduld Ltd AM GOLD, Randsel Min. Gold mine ad-Barlow Rand) ministered by ministered by

Rand Mines AACEast Champ d'or Gold JCI Min. Gold mine ad- Forest Industries & AAC, AMIC, Randsel 70 ManufacturesMining Co. ministered by Veneers wood products.

JCI Also holds PeakEast Daggafontein AM GOLD Min. Gold mine ad- Timbers

ministered by Finsh Diamonds (Pty) De Beers Maj. Diamond min-AAC Ltd iug co.

Elgin Metal Products AAC, Charter (through 78 Produces Ferranti Ltd Charter 12.5 Large UK COill-Barlow Rand) stainless steel pany

ware for do-Freight Service Hold- AAC, Charter (through 77.2 Shipping co.mestic useiogs Barlow Rand) and

Engelhard Hanovia AAC, Randsel, Charter 70.1 Holds all En- AMICInc. (through HD De- gelhard Group

Ferreira Mines Ltd AAC, Charter (through 100 Gold minevelopment) interests in-Barlow Rand)eluding gold

refining and Flourescent Lighting JCI ICI also partici-trading cos pates in man-

Engelhard Minerals & AAC, Randsel, Charter 66 Refines, fabri-agement of co.

Chemicals Ltd (through Engelhard cates and mar- Free State De- JCI Finance andHanovia) kets precious velopment & Invest- exploration co.

metals, espe- ment Co.cially platinum Francana De- AMCAN 40 Holds Cana-in the US velopment dian interests,

Engelhard Industries AAC, Randsel, Charter Maj. Holds indus- including 30%Ltd (through Engelhard trial interests of of Hudcan De-

Hanovia) Group velopment

Engelhard Hanovia of AAC, Randsel, Charter Maj. Holds Group's Francana Oil & Gas AMCAN (through Hud- 60 Oil and gas ex-SA Ltd (through Engelhard SA in terests son Bay) ploration and

Hanovia) development

Eastern Forest Estate RHOAM 100 Produces tim-co.

Ltd ber Francana Minerals AMCAN (through Hud- 100 Produces soda

Ellaton Gold Mining AAC Min. Mining financeson Bay) sulphates and

zincCo. Ltd co.

Eastern Transvaal AAC Maj. Founders Building so- RHOAM 12 Building soci-

Timber Co. ciety ety

Exchange Buildings AMAPROP Maj. Fitwaolo Mining Co. ZC1 Copper mining

Ltd prospect

Egret Investments Ltd Fibre Spinners & Ropes & Mattings Operates aWeavers Ltd grain bag mill



holding of holding ofName of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation

Freddies Cons. Mines AAC,AMGOLD Maj. Gold mine ad- Gen. Min. con-ministered by troIs Union

Anglo Corp.

Free State Saaiplaas AAC, AMGOLD Gold mine ad- Guarantee Life Assur- African Eagle Life As- 100 African Eagle is

Gold Mining Co. Ltd ministered by ance Co. Ltd surance Society the largest life

Anglo assurer in SA

First Cons. Leasing Premier Finance Corp. Maj. Specializes in G & W Base & Indus- G & W Holdings 100 Mines, proc-

Corp. the leasing of trial Minerals Ltd esses and mar-

movable assets kets a wide

Ferrous Scrap Dis- Scaw Metalsrange of indus-

tributorstrial minerals tofoundry, pain t,

Flather Bright Steels AAC Maj. plastic andLtd other industries

First Union General AAC Min. General invest- G & W Industrial & G & W Holdings 100Investment Trust Ltd mentco. Chemical Supplies

G & W Holdings (Ply) AAC, Randsel About Holds G &W Guarantee Life Prop- Guarantee Life Assur- 100 Holds property

Ltd 30 Base and Ind. erties Ltd ance interests of

MineralsGroup

Griqualand West Dia- De Beers 72 De Beers Gerencia Industrial AAC Maj.

mond Mining Co. leases the min- Limitada

ing property to Gypsum Industries Tongaat Group 14the co. Ltd

Geldenhuis Deep AAC, Charter (through 100 Gold mine Gallo (Africa) Ltd AAC Min. Produce rec-

Mining Co. Barlow Rand) ords, sound

Government Gold JCI Min. Gold mine ad-equipment,

Mining Areas ministered byetc.

JCI Hollard Straat Ses Be- AAC, Randsel 49 The holding co.Greatermans Stores JCI Maj. Large retail leggings for Anglo &Ltd group in south- Federale Myn-

ern Africa bou (which

Glencairn Holdings JCI Finance andowns 51% in-

(Pty) Ltd exploration co.terests)

Great Northern AMCAN 27 Harmony Gold Mining AAC, AMGOLD, Char- Maj. Gold mine ad-

Capital Corp. Co. ter, Randsel ministered by

General Mining & Fi- Mainstraat BeleggingsRand Mines

50 Mining financeHolds thenance Corp. group in SA HD Development Ltd AAC, Randsel, Charter Maj.

controlled hyGroup's inter-

Federale Myn-est in En-

bou, but Anglo gelhard

influential.




Hanovia Inc. Hard Metal Tools Ltd Boart & Hard Metals 100(71%) Horizon Holdings Ltd MINORCO Maj. Holds MINOR-

High Level Gravels De Beers 100 Diamond min- CO's interest inLtd ing co. Trend Explora-

Highveld Steel & AAC, Randsel, AMIC, 51.8 Producestion

Vanadium Co. De Beers (through De vanadium Haw Par Brothers In- Charter 13.3 Charter negoti-Beers Ind. Corp.), pentoxide, ternational ated to takeCharter, JCI, Barlow vanadium steel, over LondonRand rolled steel see- Tin Corp.

tions. Operates which involvedits own mines exchanging

Heatrae Group Charter Min. Industrialthese shares

group in the Hall, Longmore & Co. De Beers Ind. Corp. 2UK Hartebeesfontein Gold AAC Min. Gold mine ad-

Hume Ltd AAC, Charter (through Makes steel Mines ministered byBarlow Rand) and concrete outside group

pipes. Has Hudson Mining (Pty) G & W Holdings 100 Do not confuseGerman part- Ltd with Hudsonners Bay Mining

Henry Gould Ltd AAC, Charter (through Produces and SmeltingBarlow Rand) chrome Co.

Hudson Bay Mining & AMCAN 34.8 Produces cop- Hulett's Corp. Ltd Tongaat Group 50 Sugar pro-Smelting Co. Ltd per, zinc, sil- ducer. Tongaat

ver, gold, has controlcadmium, Hypack Products Ltd Tongaat Group 28selenium,telunium and Hogarths Ltd AAC Min.

lead concen-Property de-trates ISipingo Property [n- AAC, AMAPROp, 75

Hudcana De- AMCAN, Hudson Bay Holding.co. forvestment Co. Ltd Randsel, AMIC velopment co.

100velopment & Francana Group interests [ndustrias de Caju AAC, Randsel 50 Grows and

in Canada Mocita (Mozambique) processes

Hudson Bay Holdings AMCAN (through Hud-cashew nuts in

100 Mozambiqueson Bay)

Hudson Bay Explora- AMCAN (through Hud-Industrial Distributors ANAMINT, De Beers, 60 The Diamond

100 Prospecting Ltd JCI Corp. and Dia-tion & Development son Bay Mining & and mining mond Pro-

Smelting) concern ducersHuletts Sugar Corp. AMIC 11.8 Produces sugar Association sell

Hipp() Valley Estates RHOAM 25 Sugar caneindustrial dia-

planters andmonds to this

millersco.




Industrial Distributors ANAMINT, De Beers, !OO Buys industrial Industrias de Caju, Industrias de Caju !OO Processes(Sales) jC! (through Ind. Dis- diamonds from Antenes SARL Mocita (Mozambique) cashew nuts in

tributors) above co. and Mozambiquesells to thetrade Johannesburg Cons. AAe. De Beers, Rand- 50 Major mining

Industrial Grit Dis- ANAMINT, De Beers, !OO Does as above Investments Ltd OCt) sel finance housetributors JCI (through Ind. Dis- for diamond now part of the

tributors) grit Anglo Group

Ingagne Colliery AAC, Randse! Maj. Coal mine J. L. Clarke & Co Randsel, AMIC 33.3

International Pacific Charter 30 Merchant bank ICI General Engi- JCI !OO Engineering

Corp. (Australia) neering Ltd co. makingmining equip-

lndustcx: AMIC 37.5 Makes ment, struc-rubber-impre- tura! steelworkgnated indus- and precisiontrial textiles engineering

Iron Duke Mining Co. RHOAM !OO Iron mine in and agriculturalLtd Rhodesia equipment

International Pipe & De Beers (through De Min. Jeannette Gold Mines AAC, AMGOLD 25 Gold mine, ad-Steel Investments SA Beers Ind. Corp.) AAC Ltd ministered by

Indumeni Coal Mines AMCOAL Coal mine ad-Anglo

Ltd ministered by john B. Clarke Motor McCartby Rodway Maj. Retail motor

AAC Co. firm

Illings (Pty) Ltd AMIC 77.1 Imports and Kriel Coal Mining Co. AAC, Randsel Coal mine indistributes SAMazda cars,earth-moving Koffiefontein Diamond De Beers Maj. Diamond mine

equipment, Mine in SA

cranes, hydrau- Kimberley Engi- De Beers (tbrougb De 50 Engineeringlie excavators & neering Ltd Beers Ind. Corp.) concern 50%mechanical owned bybandling equip- AngloNaalment

Kanshansi Copper MINORCO Zambian cop-Industrial Metal Prod- AMIC Maj. Mine per mineucts (!972) Ipcom Ltd.

Konkola Mining Co. ZC! Copper mine inInter-Mine Services AAC Supplies stores ZambiaOFS (Pty) Ltd to Anglo Group

Kasempa Minerals MINORCO (through Maj. Prospecting co.mines in SAZAMANGLO Explora- operating in

Ironstone Minerals Higbveld Steel !OO Part of High- lion Ltd ZambiaLtd veld Steel &

Kalahari Investments MINORCO, Anglo Holds interestsVanadium !OO

Group Ltd American Botswana, in Makgadik-ZCI gadi Soda &




Barnangwato Leo Computer Bureau AAC (through Barlow Maj.Concessions Rand)

Kenya Fertilizers Ltd Charter 50 50% offer- LHL Engineering Ltd AAC (through Barlow 26.4 Makes equip-tilizer co. held Rand) ment for ambu-by ICI lances, Rre

Kadola Mines Ltd Charter 33.6 Mine in Zam- engines, refrig-

bia eration units,etc.

Kinross Mines Ltd AMGOLD Gold mine, ad-L. & F. Metter (Pty) AAC (through Barlow Min. Structural engi-ministered by

others Ltd Rand) neering, build-ing, construc-

Kloof Gold Mining Co. AM GOLD Gold mine ad- tion, plantministered by sales, etc.Anglo

Lomv's Creek Mining JCI 100 Produces tirn-Karina (Private) Ltd AAC Maj. Timber Ltd ber for mines

Kenilworth Centre AMAPROP Maj. Owns office Lubimbi Coal Areas RHOAM 50 Coal mine in(Pty) Ltd and shopping Rhodesia

complex inLytton Minerals Ltd AMCAN, Hudson Bay 67CapeTown

Kaffrarian Metal Hold- AAC Maj. Prospecting co.Mining

Lydenburg Platinum AAC, JCI Min. Platinum mineingsLtd

Kiln Products Ltd AAC Min.Longyear International AMIC (through Boart & 75 Manufactures

Loraine Gold Mining AMGOLD 16 Gold mine BV Hard Metals) and sells drill-

Co. ing equipmentworldwide and

Libanon Gold Mining AMGOLD Min. Gold and docs contractCo. uranium mine drillingLa Lucia Property In- AAC, AMAPROP, 55· Developing 330 Lydenburg Holdings AAC Maj. General invest-vestment Co. Randsel (through SA acres (133 hal Ltd ment

Townships) of land on N.Leslie Gold Mines Ltd AAC, AM GOLD Min. Gold mine ad~coast of Natal

LTA Engineering Co. AM1C, AAC, Randse], 40 1 of the 2ministered byother group

Ltd Boart & Hard Metals largest con-Lynnedeale's Motors McCarthy Rodway Maj. Retail motorstruction and

civil engi- Ltd firm

neering groups Leymac Distributors McCarthy Rodway Maj. Retail motorin SA Ltd firm

Lennings Holdings Randsel, JCI, AM1C General engi-Mainstraat Beleggings AAC, AMIC, Randsel, 50 50% owned by(Pty) Ltd neering(1965) Eiendoms Bpk De Beers Ind. Corp. General Min-

Leesbak Investments AMIC (indirect) 100 Owns office ing, invests in(Pty) Ltd premises engineering





and heavy in- Milsell Chrome Mines Barlow Rand (through Min. Chrome mine

dustry TC Lands)

Messina (Transvaal) AAC 9.2 Copper min- MITAC (Pty) Ltd AMIC (through Boart & Management

Development Co. ing, but also Hard Metals) consultants

some industry. Madziwa Mining Co. RHOAM (through 100 Nickel mines inproperty and Ltd Rhodesia Nickel) Rhodesialoan finance

Mazoe Citrus Estates RHOAM 100 Citrus farmsMondi Valley Paper AAC, AMIC, JCI, 85.3 Owns large LtdCo. Ltd Randsel ground wood-

Merchant Bank (Zam- MINORCO (through 20 Merchant bankpulp papermills bia) Ltd ZAIlC) in Zambia

McCarthy Main Hold- AMIC, Randse!, AAC 50 Motor dealer, Metal Fabricators of MINORCO (through 10 Metal manufac-

ings Ltd with zambia Ltd Zambian Anglo Ameri- turers in Zam-

earth-moving can Ind. Corp.) bia

equipment and Makgadikgadi Soda Through Kalahari In- Min. Soda mine inengineering cos Ltd vestments Botswanaas subsidiaries Mulfulira Copper Ltd MINORCO Min. Zambian cop-

Motor Assemblies Ltd Through McCarthy IS Assembles per mineMain Holdings motor vehicles Marina da Gama Ltd AMAPROP Property de-

Metair Holdings (Pty) Through McCarthy 40 Holds 53% of veloper in

Ltd Main Holdings Airco Engi- CapeTownneering Metals & Minerals In- Randsel 49 Investment

Mozambique Fisheries AAC, Randsel 45 Fishing co. vestment Corp. Ltd trust co. with

Ltd interests in

Main Place Holdings AAC, JCI Maj. Property hold-metal and min-

ing co. ineral producers

j'burg Morupule Colliery Ltd Anglo American Bots- 80 Botswana coal

Marine Diamonds De Beers (through 36.2 Off-shore dia-wana mining co.

CDMofSWA) mond mining Messina Rhodesia In- RHOAM Min. Base metalco. vestments mining co. in

Middelburg Steel & Charter, AMIC, Barlow 70 Holds interestsRhodesia

Alloys (Pty) Ltd Rand in RMB Alloys, Mindrill Ltd Through Boart & Hard 100Southern Cross MetalsSteel, Palmiet Metkor Investments Through IPSA Min. Investments inChrome Corp., Ltd engineeringThos. Beglie & firmsCo.

Mwinilunga Mines Charter, ZCI Min. Zambian cop-McCarthy Rodway Ltd Through McCarthy Maj. Largest retail

Main Holdings motor organiza-per mine tion in SA

McKechnie Brothers Through Barlow Rand 10 Engineering Mazeppa Investments Through McCarthy Maj. Motor retailing(SA) Ltd co. Ltd Rodway co.

302 Appendix 2 Appendix 2 303Size of Nature Size of Natureholding of holding of


McCarthy's Affiliated Through McCarthy Maj. Industries LtdInvestments Rodway in which it hasMetair Investments Through Metair Hold- 72 Manufactures interestsLtd iogs air-conditioning New Largo Colliery AMCOAL, Randsel Maj. Coal mine,

and refrigerator supplies ES-equipment and COMtruck bodies

Natal Coal Exploration Randsel, AM COAL 40.3 Prospecting co.Morelands Foods & Through Tongaat Group Maj.

N'Changa Cons. Cop- ZCI 49 Holds the cop-Feeds Ltdper Mines Ltd per mining and

Majoram Holdings Ltd refining inter-Matte Smelters Ltd Union Platinum, John- Maj. Concentrates ests of Anglo in

son Matthey platinum group Zambiametals National Milling Co. Charter 50 Milling concern

Minas del Otona, SA Lytton Minerals 48 Copper mining (Zambia) in Zambiaco. in Mexico National Fund Hold· Barlow Rand, JCl 16 Central Accept~

Marico Mineral Co. Vereeniging Rcfrac- 100 Supplies raw ings ances had con-Ltd tories material to par- trol

ent co. National Carpets Ltd JCI 14 ManufacturesMopani Magnesite Ltd Vereeniging Refrac- About Mines Magnc- carpets

tories 50 site Nedsual AAC, De Beers Min. Formed out of

Mining financea merger of

New Central Wit- AAC Maj. Nedbank (con-watersrand Areas Ltd co. holding in- trolled bv the

terests in De Old Mut;"al),Beers, AAC, UAL (con-Randsel, JCI, trolled byAMGOLD Anglo) and Syf-

Natal Anthracite Col~ AMCOAL Min. Coal mine rets (controlledliery by Anglo). One

Newcastle Platberg AMCOAL Min. Coal mine of the largestbanking and

Colliery financial ser-Natal Ammonium Col- AMCOAL Min. Coal mine vices groups inlieries SA

New]agersfontein De Beers 67.7 Diamond min- Nefic Ltd Nedsual Maj. Specialist gen-Mining & Exploration ing co. eral bankCo. Ltd NEFIC Acceptances NEFIC Maj. Merchant bankNorthern Lime Co. De Beers Ind. Corp., 30 Produces mar- LtdLtd Charter, Barlow Rand ble chips and Ncdsual Economic Nedsual Maj. Provides eco~

(Rio Tinto owns about dust and sells Unit Ltd nomic informa-10%) to Marble Line

tion to cos& Associated




New State Areas Ltd ICI Maj. Land and town- meat and dairyship co. produce

New Imperial Mines AMCAN 10.6 Canadian cop- Orange Free State AMIC Maj. Property co.Ltd per mining co. Land & Estate Co. operating in

Ndola Lime Co. Zambian Anglo Arneri- 50 Ltd OFS

can Ind. Corp. Oriole Investments AAC(ZMAIC) Ltd

Northem Breweries ZAAIC, SA Breweries 49 Monopoly over Orlop Investments Ltd New Rhodesia Invest· 100Ltd zambian liquor ments

industry Olympic Motors Ltd McCarthy Redway Maj. Retail motorNational Finance AAC Min. Operates on firmCorp. of SA the money

market President Brand Min- AMGOLD Maj. Gold mine in

National Board of Ex- Nedsual Min. Nedsual has ing Co. OFS adminis-

ecutors largest singletered by Anglo

holding President Steyn Min- AMGOLD Maj. Gold mine in

New Middleridge Ltd AAC Maj. Prospecting co. ingeo. OFS adminis~

tered by AngloNew Rhodesia Invest- AAC 100 A holding com-

Petrangol Consortium AAC, De Beers, ICI, 67.5 Holds a 25%ments Ltd pany for An-

glo's Rhodesian Barlow Rand, General stake in the

interests other Mining output of a pro~

than those helddueing oilfield

byRHOAMin Angola

Natal Tanning Extract AAC Owns forests PGM Brakspruit Ltd Charter, AAC, Barlow Over Buys platinum

Co. Ltd and 3 factories Rand, General Mining 80 from Rusten~

to produce tan-burg Plats andresells to En-

ning extractgelhard Miner-

from bark als & Chemical

Orange Free State In- AMGOLD Maj. Holds Anglo's Corp.

vestment Trust gold mining in- Premier (Transvaal) De Beers 96.4 Mines dia-terests in OFS Diamond Mining Co. monds

Orama Holdings Ltd Cons. Diamond Mines 84.7 Holds diamond Protea Holdings Ltd Randsel 15 Has interests inSWA interest chemicals,

Overseas & Rhodesian Randse!, RHOAM. Maj. Holding co. formedicines,

Investment Co. Ltd AAC some Anglo in-scientific in·struments,

terests in metal productsRhodesia

Oranje Koelkamers AMIC 50 Produces and Potgietersrust Randsel, AAC, ICI Maj. Part of the new

Ltd distributes Platinum Ltd Union PlatsGroup

I306 Appendix 2 Appendix 2 307


I holding of holding ofName of company Anglo holding company (%) operation Name of company Anglo holding company (%) operation

" AAC, Randsel Holds AAC'sPretoria Portland Ce- Charter, Barlow Rand 26.4 Cement pro- Rhoehar Holdings Ltd 100ment Co. ducer and Randsel's

Prospecting (?) (full Charter Prospectinginterests in

name not known) venture inCharter

Madagascar Rand Mines Barlow Rand Maj. Merger be-

Platinum Prospecting Charter, General Min- At least Platinum pros-tween RandMines & Thos.Co. ing 25 pecting co. Barlow led to

Printing Investments JCI 100 Holds Swan Barlow RandLtd Press, also Wal- being formed

lack'sRhodes Fruit Farms AAC, Randsel, Dc Maj. Fruit and wine

Palabora Mining CO. JCI 7 Copper mine Ltd Beers farms con-Ltd controlled by troIled by

Rio Tinto Anglo

Phalaborwa Engi~ JCI Maj. Engineering Rhodesian Nickel RHOAM, AAC, Rand- 85 Holds interestsneering Co. concern Corp. sel in Rhodesian

Premier Portland Ce~ RHOAM 7 Rhodesian sub- nickel mine

ment Co. sidiary of Pre- Rhodesian Accept- RHOAM, AAC, Rand- About Merchant banktoria Portland ances sel 50 in Rhodesiawhich owns

Rand Mines Holdings Barlow Rand, AAC, Over Holds interests49%

Randse1, Charter 80 in Rand MinesPremier Finance AAC Maj. Provides EngineeringCorp. medium-term Investments,

Rnance TC Lands and

Peak Timbers Ltd AAC Maj. Owns forests in others

Swaziland Rhokana Corp. MINORCO :\1in. Copper mining

Prospecting Ventures AAC Maj. Prospecting co. co. in Zambia

Ltd Rathsdown Ltd Charter Min, Industrial

Prairie Investments M1NORCO 100 Owns 51% of group in the

Ltd Engelhard UKMinerals & Roan Cons, Mines ZCI Min. Copper miningChemicals co. in Zambia

Premier Finance Randsel 100 A Rnance com- Rio Tinto-Zinc Corp. Charter, JCI Aboot UK miningCorp. pany, part of 15 group

SchlezingerRand Mines Engi~ Rand Mines Holdings, 100 Holds a large

Groupneering Investments Rand Mines, TC Lands number of Bar-

Prolux Paint Holdings AE&CI 100 Holdings in Ltd low Rand's en-paint manufac- gineeringturers interests

Pan Textiles Ltd SA Nylon Spinners 100 Rand Mines Properties Rand Mines Holdings, Maj. Holds gold

Pares Motors Ltd McCarthy Rodway Maj. Retail motor Rand Mines properties

firm




Rand Mines Property Rand Mines Properties 100 Southvaal Holdings AMGOLD, Randsel Maj. Gold holdingBrokers Ltd company

Ready Mixed Concrete Barlow Rand 33.3 Operates SW Africa Co. AAC, Randsel Min. Produces(SA) Ltd ready~mix con- vanadium and

crete plants lead; adminis-

Rheem SA Ltd AMIC, Engelhard 45 Makes steel tered by GoldHanovia (SA) drums Fields Group

Randfontein Estates JCI Min. Gold mine ad- South African AAC, AMIC, JCI, 31.6 Largest brew-ministered by Breweries Ltd Randsel, Barlow Rand ery group in

JCI SA, with inter-

Rustenburg Platinum JCI Maj. Part of theests in liquor,fuod, hotels

Mines Union Plats and industryGroup

Ropes & Mattings Ltd AMIC Textile group in SoelVelde Ltd AAC, SA Townships, Over Holds Anglo's14 AMCOAL 33 agricultural

SA land interests.Rhodesia & Nyasaland RHOAM 100 Timber pro- Over 51 ()()()Forest Enterprises Ltd ducer morgen

Rhodesian Diamond & RHOAM 40 Stellenbosch Wine SA Breweries, JCI 48 Holds wine in-Carbide Ltd Trust terests

Rhodesian Iron & RHOAM 8 Produces iron Swaziland Iron Ore AAC, Randsel Maj. Owns an ironSteel Corp. and steel Development Co. are mine in

Ridgeway Hotel Ltd Zambian Anglo Ameri- 30 Hotel group in Swaziland

can Ind. Corp. Zambia Standard Bank of An- AAC Min. Angolan branch

Rhokana Copper ZCI Min. Copper golaRefinery refinery in Standard Bank of AAC Min. Mozambican

Zambia Mozambique branch

Rioden Investments AAC 20 Prospecting co. Societe Mini(~re Charter, AAC 40 Co. minesLtd d'Anglade scheeHte de-

RNFE (Private) Ltd AAC Maj. posits in France

Rhodesian Alloys Ltd AAC Min. Societe Miniere de Charter, AAC 44.6 Co. mines cop-

Mauretanie perinRefractory Minerals Vereeniging Refrac- 100 Supplies raw Mauretania,Ltd tories material to par- Charter ad-

ent co. Oper- ministers theates in mine. Co. usesRhodesia theAAC pa-

Rand Carbide Ltd AE&CI 68 tented Torcoprocess to treat

St. Helena Gold Min- AMGOLD, Randsel 20 Gold mine ad- the ore

ingCo. ministered by Societe Miniere et Charter Min. French miningUnion Corp. Met. de Penarroya co.





South West Finance Dc Beers 100 Holds Op- Sabel Developments SA Townships 100 Shopping

Corp. penheimer Ltd centre in Belle-

family's rights ville, Cape

to diamonds in Town

Namibia South African Coal Es- Charter, Randsel, AM- 58 Coal mining co.

Synthetic Diamond De Beers 100 Holds synthetic tates COAL

Co. diamond inter- Selection Trust Charter 27 UK miningests house with

Societa Nazionale De Beers, Charter Min. A leading Ital- large copper,

Sviluppo Impresse 10- ian finance and gold, diamond

dustriale investment co. and molyb-

in which the denium inter-

Banque de ests in Africa,

Paris and the Australia and

French Bern- N. America.

berg group also Charter largest

participate shareholder

Sea Diamonds Ltd Cons. Diamond Mines 52.9 A holding co. Swaziland Collieries Charter, Barlow Rand 87.4 Has coal mines

in De Beers Ltd in Swaziland

South African Nylon Dc Beers Ind. Corp. 37.5 Spins continu- Shell Transport & Charter About Part of the

Spinners (Pty) Ltd ous filament Trading Co. Ltd 10 Shell group

fibres from im- (Royal Dutch

ported poly- Shell Petro-

mers. ICI holds leum)

25%, the SA Stormill (Pty) Ltd Barlow Rand 100 Industrialgovt owns township in37.5% Transvaal

Stewarts & Lloyds of De Beers Ind. Corp., Min. Makes tubes, South Wales Group Barlow Rand 33.3 Heavyengi-SA Ltd Randsel, AMIC borehole Ltd neering group

pumps, wind- holding com-mills, etc. pany in the UK

South African Titan AE & CI 40 Controlled by South African Forest Barlow Rand. AMIC 100 Timber pro-Products Titan Products Investments Ltd ducer with saw-

(UK) milling and

Southvaal Holdings RandseI, AMGOLD Min. Holds interests forestry inter-

Ltd in Anglo's Vaal ests in

Reefs gold mine Transvaal

South African To"m- Randsel 92.9 Has interests in South African Ship- Barlow Rand Min. Owns Rand

ships Mining & Fi- gold, diamond ping Finance Co. Ltd Bank Ltd and

nance Co. Ltd and base metal other interests

mining, indus- Steelbrite Ltd JCI Almost Furnituretry and prop- 50 manufacturererty

-312 Appendix 2 Appendix 2 313



controlled by Estate Co.. inJCI whichAMIC

South African Minerals JCI Maj. Base metals has a majorityCorp. company share

Standard Charter Bank AAC, JCI Min. JCI holds a Shaft Sinkers Ltd LTA Maj. Engaged inGroup share in the shaft-sinking

Standard Bank across the(London) Ltd worldwhich owns the Sirnoona Estates Ltd RHOAM 100 Farmland inStandard Bank RhodesiaInvestment

Spes Bona Exploration RHOAM 31.5 Mining and ex-Corp. (in whichMe has an in- & Mining Ltd ploTation in

terest) which Rhodesia

owns the Stan- Salfontein Gold Min- AMGOLD Min. Gold minedard Bank of ing Co.SA Sent'llst Bpk AAC Maj. Finance house

Shannon Sawmills Ltd JCI Administered Schlezinger Insurance Randsel Maj. Interests in lifeby JCI & Institutional Hold- insurance,

Sunningdale Farm Ltd JCI Controlled by ings Ltd (SII) property de-JCI velopment and

Sylvite of Canada Ltd Hudson Bay Mining 100 Mines potash banking. One

and supplies it of the largest

to Terra financial groups

Chemicals in SA

Scaw Metals Ltd AMIC 100 Produces ferr- Sorec Ltd Randsel 47 Controls part of

ous and non~the property

ferrous development

castings, rolled interests of SII,

steel products, ofwhich it is a

etc. subsidiary

South Aliican Board AMIC Min. Paperboard Springbok Colliery South African Goal Es- 100 Coal mine con-

Mills producer Ltd tates trolled by AM-COAL

Stafford Mayer Co. AMIC 24.5 Holds coal,South African Mines Holding co. for(SA) Ltd sugar and in~

AAC Maj.

dustrial inter- Selection Ltd mining inter-

ests. Owns 68% ests

of SA Board St Andrews Securities AAC Maj.Mills Ltd

Stone & Allied Indus- AMIC 100 Owned 100% South African Land & AMGOLD Gold mine ad-tries by Orange Free Exploration Co. Ltd ministered by

State Lane & Anglo





Scandiarnant Ak- De Beers 25 Composed of 3 involved (owns

tieholag cos manufactur- 35%)

ing synthetic Tidal Diamonds Ltd Cons. Diamond Mines 54 Holding co. fordiamonds in De BeersSA, Ireland, Tiger Oats & National AMIC, Randsel, JCI Min. Basic foodSweden Milling Co. Ltd processor

Strikine Copper Ltd Hudson Bay Mining 32 Owns copper Transvaal Cons. Lands Charter, Barlow Rand Abont Holds mineraldeposits in Ltd 40 rights, collieryBritish Colum- and financialbia interests

Shangani Mining Maj. Trouoh Mines (Malay- Charter 29.7 Owns 2 tinCorp. sial Ltd mines inSpringfield Collieries AMCOAL Maj. Coal mine ad- MalaysiaLtd ministered by Trade & Transporta- Charter 8 UK co.

Anglo tion Services LtdStandard Bank Invest- AAC Min. See Standard Trans-Atlas Holdings Barlow Rand Has a majorityment Corp. Cbarter Bank Ltd holding in

Group and Cons, Stone-Standard Banks crushers Ltdof Angola and which domi-Mozambique nates the

Sonthridge Ltd AAC Maj. Prospecting co. crushed stone

Swakop Exploration AAC Maj. Prospecting co.and sand mar-ket in the

Ltd in Namibia TransvaalSyndicat de Re- AAC Min, Prospecting co,

Transvaal & Dclagoa TC Lands 96 Holds Douglascherches de Nord-An-

Bay Ltd Drift Collierydriamena and other inter-Safmot Ltd McCarthy Rodway Maj. Retail motor csts (e. g. Rand

firm Mines Engi-

Southampton Assur- African Eagle Life As- 100 Part of the neering)

ance Co. of Rhodesia surance Society Group's Rhode- Tedelex Ltd Barlow Rand Min. Makes and dis-Ltd sian operations tributes electri-

cal householdTsumeh Corp. AAC, SWACo. Min. Lead and zinc goods (e.g. hi-

mine in 6s, radios,Namibia fridges)

Transalloys (Pty) Ltd AAC, Randsel 65 Produces Toyota (SA) Ltd JCI Min, Holds franchiseferro-manga- for Toyota vehi-nese. Phillip desBros of Swit-

Teba Trust (Pty) Ltd JCI Maj. Finance andzerland is also exploration co.




Terra Chemicals Inter- Hudson Bay Mining 15 Operates a Transvaal Coal Corp. AMCOAL Maj.national chemical com-

Trans-Natal Coal Co. AMCOAL Min. Coal mineplex from theUS. Sylvite of Ltd

Canada sup- The Deep Drilling Co. Boart & Hard Metals Maj.plies its potash. Ltd

Terra Nova Explora- Hudson Bay Explora- 33 Prospecting co. Transvaal Vanadium Highveld Steel & Maj.

tion tion Co. (Pty) Ltd Vanadium

Tombill Mines Ltd Hudcana Development 38 Holds 40% of Tongaat Group Ltd AAC Min. ProducesFrancana Min- sugar. food,eraIs clothes, and is

Thompson Ramco (SA) AMIC 45 Produces motorinvolved in

Ltd components. property and

51% is held by construction

TRW Inc. of Tongaat Sugar Ltd Tongaat Group Maj. Produces sugarUS Tongaat Investments Tongaat Group Maj. Property and

Trojan Mining Co. Ltd Rhodesian Nickel Corp. 100 Rhodesian min- Ltd electrical engi-ing co. (nickel) neering inter-

Tanganyika Conces- RHOAM Min.ests

sians Ltd The Rhodesian Milling RHOAM Min.

Tubemakers of SA Ltd Stewarts & Lloyds of SA 100 Holds S. & L.'s Co.

tubemaking in- 'n1e Discount House Nedsual Maj. Operates in theterests in SA of SA Ltd SA money mar-

Tubemakers of Stewarts & Lloyds of SA 100 Holds Rhode-ket

Rhodesia Ltd sian interests Tuli Exploration Ltd AAC Maj. Prospecting co.

Tube & Pipe Indus- Stewarts & Lloyds of SA 100 Holds as- Triomf Fertilizer Ltd AE&CI 49 Manufactures

tries Ltd sociated tube fertilizersinterests

Trend Exploration MINORCO 57 Has oil inter- Umhlanga Beach AMAPROP Maj. Holiday centre

ests in Canadaon N. coast of

and IndonesiaNatal

Townsview Estates Randsel Maj. Provides tech- United Transport AAC, AMIC, Randsel 40 Owns buses,

Ltd nical and man- Holdings commercial ve-

agerial serviceshicles and cars

to Schlezingerfor hire. United

Group's prop-Transport (UK)

erty cosowns 60%

Thaton Ltd AAC Maj. Umgala Collieries Ltd AMCOAL Min. Coal mine

The Sungei Besi Charter Min. Tin Mine in Ultra High Pressure De Beers 50 Produces syn-

Mines Ltd Malaysia Units thetic dia·monds





Union Acceptances Nedsual Maj. Holds mer~Co. Ltd Anglo-Vaal

Holdings chant bankingGroup

interests Vaal Reefs Ltd AMGOLD, Randsel Maj. Gold mine ad-

Union Platinum Min- AAC, JCI Maj. Platinum min-ministered by

ing Co. Ltd ing co. whichAoglo

also controls Venterspost Ltd AMGOLD Min. Gold mine ad-Rustenburg ministered byPlats, Waterval Gold FieldsPlats & Pot- Vierfontein Collieries De Beers Ind. Corp., 28.5 Supplies coal togietersrust Ltd African & European one ofES-Plats COM's power

Union Corp. General Mining, Char- Min. Has been taken stations

ter over by Gen- Van Dyke's Drift Col- TC Lands Coal mineeraI Mining liery

Union Steel Corp. Ltd AMIC 13.1 Controlled by Vryheid Coronation Coronation Colliery Maj. Coal mine ad~ISCOR, pro- Colliery ministered byduces steelproducts, etc.

AMCOAL

USCO Aluminium Union Steel Corp. Maj. Operates anVereeniging Refrac- AMCOAL, AMIC 66.7 Manufacturestories Ltd refractories,

Corp. Ltd aluminium wire silica, bricks,and conductor etc. Has aplant number of sub·

Union Carriage & General Mining, Main- Min. Biggest single sidiariesWagon Co. straat Beleggings supplier of rail- Vereeniging Cons. AMCOAL Min. Produces food·

way coaches Mills Ltd stuffs, cattleand electric feed, etc.locomotives toSA Railways VE Exploration Ltd AMCOAL Maj. Prospecting

and other rail subsidiary of

networks AMCOAL

Unitor (Zambia) Ltd Zamanglo Ind. Corp. 20 Vereeniging Tiles Ltd Vereeniging Refrac~ Maj. Manufactures

Ultra High Pressure De Beers 50 Produces syn-tories tubes, etc.

Units (Ireland) Ltd thetic dia- Vitro Clay Pipes Ltd Vereeniging Rcfrac- 50 Shares market

monds in tories with Cullinan

Ireland plant Refractories

VPC Ltd LTA 42 HandlesVirginia Merriespruit Charter, AAC, Barlow 82 Kennecott turnkey heavyInvestment Co. Ltd Rand, Engelhard Copper of US industrial pro-

Hanovia (SA) owns 10% of jectsthe co.

Vanderbijl Engi- AAC Min. Controlled byVirginia (Orange Free Virginia Merriespruit Gold mine ad- neering Corp. Ltd ISCOR. UKState) Gold Mining Investment Co. ministered by




Name of company Anglo holding company (%) operation Name ofcompany Anglo holding company (%) operation

cos. involved Western Areas Ltd AAC. Randsel. AM- Maj. Gold mine ad-

Associated GOLD ministered byElectrical Engi- ICI

neers, Vickers, West Driefontein Gold AMGOLD. AAC. Rand- Min. Gold mine ad-& AshmoreBenson Pease

Mining Co. Ltd se1 ministered by

& Co. AlsoGold Fields

Mesta MachineGroup

Co. of US. Pro- Wanleie Collieries Ltd AAC. RHOAM. Rand- Maj. Large coal field

duces heavy sel in Rhodesia

mechanical Williamson Diamond De Beers 50 Owns large dia-equipment Mining Co. mond field in

Vecor Heavy Engi- Vanderbijl Engineering Maj. Subsidiary ofTanzania to·

neering Vanderbijlgether with

Vosa Valves Ltd Stewarts & L10yds of SA 100Tanzanian govt

Veldmaster (Pty) Ltd Union Steel Corp. Maj. Produces ag~Waterval (Rustenburg) ICI. AAC Maj. Part of the new

ricultural discsPlatinum Mining Co. ICI-controlled

and earth-en-Ltd Union

gaging partsPlatinum

Valley Exploration & AAC Maj. Prospecting co.

Group of mines

Mining Co. LtdWitbank Collieries Ltd Charter. Barlow Rand Maj. Controlled by

Western Holdings Ltd AMGOLD, AAC, Rand-

Rand Mines for

Maj. Gold mine ad- Barlow Rand

sel ministered byAnglo

Werff Brotbers Ltd Charter 40 UK co.

Welkom Gold Mining Randsel, AAC. AM- Maj. Gold mine ad-Welgedacbt Explora- Barlow Rand Maj. Administered

Co. GOLD ministered bytion Ltd by Rand Mines

Anglo Winterve1d (TCL) Transvaal Cons. Lands Chrome mine

West Witwatersrand AMGOLD. Randsel, 20.1 Holds WestCbrome Mines Ltd in Barlow Rand

Areas Ltd AAC Rand gold in-Group

terests. Control Weyerhauser (SA) Ltd Barlow Rand, SA Forest 66.6 Makes cor-

by Gold Fields. Investments rugated card-

Anglo inHuen·board

tialcontainers.

Western Deep Levels AMGOLD. AAC. Rand- Maj. Gold mine ad-Weyerhauser

Ltd sel, Charter. ministered by(US) holds

Anglo33.3%

Western Reefs Ltd AAC. Randsel, AM- Maj. KlerksdorpWitwatersrand Gold ICI Maj. Land and town·

GOLD gold mine ad-Mining Co. ship co.

ministered by White Pass & Yukon AMCAN 25.6 Provides

Anglo Ltd transport ser-vices in Yukon,

...322 Appendix 2 Appendix 2 323


Name of company Anglo holding company (%) operationName of company Anglo holding company (%) operation

British Colum-Zuinguin Natal Ltd African & European, 57.5 Coal co. con-

bia Randsel, AMCO-\L troIs IndumeniWestern Bank Ltd Randsel Min. Controlled for- Coal Co. as

merlyby wellAnglo, now by Zululand Oil Explora- Engelhard Hanovia, Has on~ andBarclays Bank

tioD Co. Barlow Rand off-shore con-with Anglo in- cessions increasing its in- Zululand. Gulfterests in Oil doing ex-Barclays ploration

West End Property Anglo American Bots- 100 Owns a multi-Zinc Oxides of Canada Hudson Bay Mining 100 Holds 100% of

Co, Ltd wana storey officeLtd Durham Indus-

building, Bot- tries of Canadasalano House,

MINORCO 100 Holds Angloin Gaborone, Zambian Anglo Ameri-Botswana can Industrial Corp. Group's inclus-

(ZAAIC) trial and ag-Whitehorse Copper AMCAN, Hudson Bay 41.6 Copper mining riculturalMines Ltd Mining co. in Canada interests inWinkelhaak Mines Ltd AAC, AMGOLD Min. Gold mine Zambia

Western Ultra Deep AAC, AM GOLD 30 Mining finance Zambia Copper In- MINORCO 49.9 Holds Anglo'sLevels Ltd co. controlled vestments mining inter-

by Anglo ests in Zambia

Witwatersrand Deep MC Min. Mining finance Zambia Clay Indus- Zamanglo Ind. Corp. 22Ltd house tries LtdWarbler Investments AAC 20 Prospecting co. Zamanglo Exploration ZCI 60Ltd LtdWestern Decalta Pe- Hudson Bay Mining 38 Zambian Broken Hill MINORCO Maj. Lead and zinctroleum Mining Co. Ltd mine in Zambia

Witbank Coal Hold- AMCOAL, AAC Maj. Holding co. for Zamanglo Australia MINORCO 100 Owns 30% ofings Ltd some Anglo (Pty) Ltd Australian

coal interests Anglo Ameri-

Wendt GMBH Ltd Boart & Hard Metalscan

Maj.Previously

W. S. Craster (Private) Scaw Metals Zambia Breweries LtdNorthern

Ltd Breweries. SeeZandpan Ltd Randsel, AAC, AM- Min. Gold and 'N'

GOLD uranium minesadministeredby Anglo Vaal

Ziuchem Ltd MC, AMIC, Randsel 100 Produces zinc Idust I

I

324 Appendix 2

Sources Company Reports:

Anglo American Corp. of South Africa, Annual Reports, 1970-6De Beers Cons. Mines, Annual Reports. 1970-6Charter Cons., Annual Reports, 1970-6Rand Selection Corp., Annual Reports, 1970-6Anglo American Investment Trust, Annual Reports, 1970-6Mineral and Resources Corp., Annual Report, 1976Anglo American Gold Investment, Annual Report, 1976Anglo American Industrial Corp., Annual Reports, 1970-6Anglo American Coal Investments, Annual Report, 1976Anglo American Properties, Annual Reports, 1975-6Zambian Copper Investments, Annual Reports, 1973-6

Financial.Mai~.Johannesburg; September 1968-February 1970, January 1975-August1976; Fmanclal Gazette, Johannesburg; September 1968-February 1970.

po

APPENDIX 3

A Survey of theInternational Links of the Anglo American Group

INTRODUCTION

This appendix presents the links between companies in the Anglo AmericanGroup and some of the more important European, American and Japanesecompanies. Some governments with direct links with Anglo American companies have also been included. This list is not a fully comprehensive recordand is compiled from information relating to Croup activity in 1976.

Documentation is presented, for the sake of clarity, in the following way.

1 The first line of an entry is set in bold type apd shows the company orgroup with which the Anglo Group is linked (e.g. American Metal Climax)and the country of origin of that company or group (e.g. the US).

2 The second line is set in SMALL CAPITALS and shows the holding companywithin the Anglo Group which is the other pole of the linkage (e.g. CharterConsolidated), Where two or more Anglo companies are involved these aregiven. In cases where the Anglo Group is known to be involved but thename of the holding company itself is not known, or where a large numberof Anglo companies are involved, the term 'Anglo Group' is used.

3 Subsequent lines, set in text type, specify the precise nature of the connection between the Anglo Group and the international Group with which it isconnected, e.g. joint holdings in a third company and the nature of thatcompany's association with the other two; the provision of financial support; loans; etc. Where more than one connection is known to exist theseare given, Where the connection is through holdings in other companies,those connecting companies are italicized. Where holdings exist in connecting companies, the size of the holdings, where known, is given aspercentages. These percentages should, however, be treated with somecaution as they are constantly varying, When possible, cross referenceshave been made,

Abbreviations of the names of some of the Anglo Group companies mentionedin the appendix are as follows:

AAC Anglo American Corporation of South Africa LtdRandsel Rand Selection Corporation LtdAMIC Anglo American Industrial Corporation LtdAMCAN Anglo American Corporation of Canada Ltd

325

DVR

Line

228 Anglo American

Other agricultural interests of the Group include; Rhodes Fruit and W· vh' h .. . me r3rms,W 1~ owns e.xtens~ve estates in the Western Cape and grows, cans and marketsdeciduous fruits, wme and grapes and has a large livestock heard- H· " 11E t 1 h" hod' ' IPPO "a eys a es W Ie pr uces sugar, citrus and related products in Zimbabwe- DewhurstFarm~ wh!ch mainly ~istrihutes and sells fresh farm products; Mazoe'Citrus Estates In Zimbabwe; SJmoona Estates in Zimbabwe; and SunningdaJe Farm and~onway Farm. both controlled through leI. In geneml Anglo American Croupanns are among the most mechanized in southern Mrie-d. (Anglo American Corp.

0[5:\, ,Annual Repent, 1976. p. 83; and Financial Mail. Special Survey 'Top Com-pantes, 22 April 1977, p. 19.) .

CONCLUSION

Anglo Americanand South African Imperialism

This study has concentrated almost exclusively on Anglo American'sposition in the political economy of South Africa. In so doing it hasfocused not only on Anglo's rise to power within the industrial economy but also on the social and political conditions which surroundedand influenced that process. Such an approach has enabled us both tolocate Anglo American in relation to the fundamental forces whichmotivate capitalist society in South Africa and to chart the evolution ofthat society over time. Inevitably, there must be omissions and shortcomings in a work which attempts such an all-embracing study over atime-span of more than a hundred years. None the less, we wouldargue that such weaknesses do not detract from the validity ofattempting this task, since the particular perspective or overview which itaffords is one which no micro-study could hope to provide. However,there are omissions in this study and before closing this investigationsome of these omissions need to be briefly dealt with. In this conclusion we will summarize those aspects of Anglo's activities which,though largely ignored so far, we feel it necessary to comment onbefore putting forward a final definition of the Group. These relate tothe question of corporate control within the Group and to the international scope of its activities.

Throughout this study we have tended to view the interests of theAnglo American Group and those of its successive chairmen, Ernestand Harry Oppenheimer, as more or less synonymous with oneanother. The reason for this is obvious; since its inception the AngloGroup has been closely identified with subsequent generations of theOppenheimer family. Anton Dunkelsbuhler, the Group's founder, wasthe uncle of both Ernest and Louis Oppenheimer, the two brotherswho played such a crucial role in the Group's formative years. Ernest'sson Harry followed his father as chairman and today Harry's sonNicholas is an important figure in the Group as is Harry's formerson-in-law, Gordon Waddell. Furthermore, within the Group's structure-and yet never in the forefront of Group actiVity-are to hefound private companies, such as Brenthurst Investment Trust (named

229

DVR

Line

230 Anglo American

after Harry Oppenheimer's private home) and E. Oppenheimer andSon, which tend to be dominated by members of the Oppenheimerfamily. This latter company, whose origins date back to the 1860s,has had a particularly close association with the Group throughoutits history. The question which immediately presents itself, ofcourse, is that of the precise nature of the association betweenthe Oppenheimer family and the Anglo American Group. Posed ingeneral terms, the question of the relationship between families orindividuals with large holdings in giant corporations and the operationsof these corporations is one which is of particular interest to socialscientists at a number oflevels. One of these concerns the potential formanipulation that such a relationship might open up, while anotherconcerns the issue of the way in which control is exercised within sucha corporation. As far as the Oppenheimer family and Anglo Americanare concerned, we do not intend to explore the former question, butwe are interested in the latter: i.e., in the nature of the relationshipbetween the family and the Group to the extent that it raises theoretical questions about corporate control. There is a broad body of literature which argues that the diffusion of ownership which hasaccompanied the historical rise of large public corporations has beenaccompanied by an inevitable dilution of corporate control. Furthermore, some versions of this thesis claim that under monopoly capitalism 'ownership' and 'control' have been separated from one another,leading to a situation in which a 'managerial class' emerges in control ofcompany operations (see, for instance, Berle, 1954; Burnham, 1960).At first sight it seems as if there is a good deal of truth in thesepropositions and that there is no reason why tbey should not be applicable to Anglo American. The Group does indeed consist largely ofpublic corporations in which 'the public' is free to participate. Furthermore, the ownership structure within the Group is highly decentralized, thus suggesting a dilution of owners' control. However,against this, we have the undisputed fact of the Oppenheimer family'sdomination of the Group over many years. The question is: how doesthis domination occur and what are its implications for the applicationof the above theories to Anglo American?

The first point to note is that the internal control structure within theAnglo American Group is highly decentralized. Four holding companies form the inner core of the Group's control structure: the AngloAmerican Corporation, De Beers Consolidated, the Rand SelectionCorporation and Charter Consolidated. Between them there is a complex network of cross-holdings through which each company holds only aminority share in each of its partners (see Figure 6 in Appendix 2).However, together these minority holdings add up to a substantial~ajority share in each company so that, as the Financial Mail put it:Any mternational giant attempting [a take-over] on a share swop basis

Conclusion Anglo American and South African Imperialism 231

would probably end up in the uncomfortable position of having Oppenheimer as its biggest single shareholder." The importance of thisfrom our present point of view is that it means that it is possible for theOppenheimer family to dominate the Group as a whole through holding only a minority of the shares in each of the four leading companies.An examination of the Anglo American Corporation's share register atthree-yearly intervals reveals that, in 1973, 1976 and 1979, Harry Oppenheimer and his son, Nicholas, between them owned respectively20.4 per cent, 20.25 per cent and 16.4 per cent of the corporation stotal share:capital.' Though extremely large in absolute terms, theseholdings on their own were not sufficient to exert direct control. In1977 for instance De Beers alone owned 33 per cent of the AngloAme~ican Corpor~tion. However, if the Oppenheimers' holdings i~the Anglo American Corporation are combined with the family sminority shares in other Group companies (especially its stake in DeBeers through Consolidated Diamond Mines of South West Mrica),these holdings would seem to give the Oppenheimers an almost unassailable position in the Group. .

Yet, of course, the family's position can never be totally secure. It IS

always possible that some outsider or some new coalition from withinmay appear and buy up sufficient shares to oust the Oppenheimersfrom their dominant position. At this point the role of a private company like E. Oppenheimer and Son seems to be important within theGroup since it helps to promote a sense of esprit de corps among seniormanagement and personnel. Not only does this help to discourage apossible internal coup but, in the face of a take-over threat from outside, the danger of disunity within the ranks is subverted. The way thisworks in practice is quite difficult to discern precisely, since E. Oppenheimer and Son is no longer a public corporation (it converted to aprivate concern on 1 February 1966) and therefore does not publIclydivulge the kind of information which would facilitate an inquiry of thlskind. However, prior to going private the company was controlledthrough a majority shareholding by the Oppenheimer family. In addition, the family encouraged minority participation by non-family members who were often senior Group management and personnel. Interms of the Articles of Association of the company, the terms on whichthis latter participation occurred were at the sole discretion of the directors who were, for instance, able to determine the price at whichshares could be bought and sold.' In the light of this it is interesting toobserve that in 1966 all the directors of the Anglo American Corporation were also shareholders in and nominees of E. Oppenheimer andSon.' Since most of these directors also held key positions on theboards of other Anglo Group companies, it seems reasonable to assumethat the Oppenheimer family's control over E. Oppenheimer and Songave it an effective influence over Group affairs which exceeded that

232 Anglo American

which was immediately apparent from a perusal of the share registersof the companies concerned. If this is so, then it plays havoc withtheoretical notions that public ownership necessarily leads to a dilutionofcorporate control. On the contrary, it suggests that public ownershipmight do no more than obscure the existence of a highly centralizedcontrol structure.

Arising out of the analysis we have developed here, we would arguethat under monopoly capitalism ownership and control in fact remaintightly interwoven. Certainly, we would not wish to dispute the notiont~at the emergence of large public corporations has brought with it a~IffuslOn of ownership; nor even would we deny that monopolies havemdeed sPawned a profeSSIOnal, bureaucratic elite which administersthe day-to-day affairs of these large and cumbersome institutions. But,following our investigation of Anglo American, we would argue thatpower may often be expressed through more subtle forms than simplycontrol over 51 per cent ofa company's shares and that the existence ofa bureaucracy still leaves open the question of who controls the bureaucrats. Consequently, we have discovered nothing in our analysis ofAnglo which leads us to believe that the era of monopoly capitalismbrings with it a dilution ofcorporate control-or, more fundamentally,an end to tbe control of massive resources by a few. On the contrary,the monopoly era only throws up new organizational forms such asmultinational combines, through which ever greater financial'and pro~uctive resources are brought within the reach of the few, therebymcreasmg their power in society a thousandfold.

This leads us to the second question we wished to address: that ofthe international scope of Anglo American's activities. So far we haveaddressed the Group largely as a South Mrican-oriented concern andhave examined the extent to which its power has increased in SouthAfrican society. But Anglo American's activities are not confined toSouth Mrica: the Group is, in every sense, an international combinewhose,various interests reach across Rve continents. In concluding thisanalYSIS of the Group we need to adopt an international perspectiveand look, bnelly, at its position within world capitalism. This will helpboth to locate the Group in its international context and to illuminatean often neglected aspect of South Mrican capitalist development: itsImpact on international affairs. As we shall see, the world-wide net~ork ofeconomic relations which Anglo American is constantly forgingIS no fr~ak phenomenon: it expresses the growing strength ofmonopolycapitalism 10 South Mrica. And in southern Mrica, where it is mostheavily. concentrated, this strength emerges in the political andeconomIC form of imperialism.

An i~spection of the main holdings of the four ?nancial companieswhich 10 1976 formed the lOner Core of Anglo s Group structure .rellects its character as predominantly a South Mrican-based mining-


finance conglomerate (Appendix 2). But, as we saw in Chapter 6, one ofthese inner-core companies, Charter Consolidated, is based in London, from where it undertakes investment on a world scale. If wewiden our scope to include the ten remaining companies which holdthe majority of Group interests this same pattern of South Mrican andnon-South African companies emerges. Alongside companies likeAM GOLD, AMCOAL, AMIC and AMAPROP (whose primaryholdings, respectively, are in South Mrican gold, coal, industry andproperty), we find a spread of holding companies located outside SouthMrica: Mineral and Resources Corporation (MINORCO), AngloAmerican Corporation of Rhodesia (RHOAM), Zambian Copper Investments, Anglo American Corporation of Canada (AMCAN) andAustralian Anglo American (AUSTRAM). And if we go wider stilland examine the 109 financial companies which hold many of theGroup's more important interests we find an even wider spread ofnonSouth Afiican-based companies that includes: Anglo American Corporation of Botswana, Zambian Anglo American Industrial Corporation,Anglo De Beers Forest Services (Lesotho), Angloswazi Investments,Anglo American Corporation of Central Afiica, Charter France, Charter Overseas NV (Curac;ao), Euranglo Ltd, Societa Nazionale SvilieppoImpresse Industriale (Italy), Anglo American Corporation of SouthAfrica (Portugal), De Beers European Holdings, Bahamas International Trust Company, Cayman International Trust Company, AngloAmerican International, Anglo American Corporation do BrazilLimitada, Debhold Canada, Engelhard Hanovia Inc., and AngloAmerican Corporation of the United States.

It is thus clear that (in addition to its South African-based companies)over the years Anglo American has established a number of companieswhose specific purpose is to build up Group interests outside SouthAfrica. However, one should not assume that these are the only channels for the Group's non-South African investments. Most of its SouthMrican-based companies also include within their portfolios a widerange of investments in companies operating outside South Africa. Forinstance, of the 139 subsidiaries which AMIC held in 1976, 69 werelocated outside South Africa: 7 in Zimbabwe; 8 in Zambia; 2 each inSwaziland and Mozambique; 1 each in Botswana and Liberia; 8 inBritain; 4 in Federal Germany; 3 in the Netherlands; I each in Switzerland, Norway, Portugal, Luxembourg, Ireland, Sweden, France andItaly; 5 each in the United States of America and Canada; 2 in Mexico;1 each in Brazil, Costa Rica, Bahamas and Chile; 7 in Australia; and Ieach in New Zealand and the Philippines.' The spread of internationalinvestments is thus extremely large and involves companies in a rangeofdifferent economic activities. In 1976 at least 11 of Anglo's 27 leadingfinancial companies (like banks and insurance companies) were locatedoutside South Africa, as were 45 of its 193 major industrial and agricul-

234 Anglo American

tural companies.' But it is principally through mining that the Groupspreads itself internationally.

In 1976 Anglo was involved in over 250 different companies whichwere active in mining in at least 22 different countries of the world.These interests, which included mine holding, exploration, productionand marketing concerns, were spread throughout an astonishing rangeof minerals and included 48 gold mines (some of which were uraniumproducers as well), 31 prospecting companies, 29 diamond companies,28 coal mines, 22 copper and nickel mines, 10 oil ventures (includiugNorth Sea oil), 7 platinum mines, 5 tin mines, 5 iron mines, 2 chromemines, 2 lead mines, 2 vanadium mines and one mine each in uranium,asbestos, potash, soda, lime, scheelite, manganese and silver. The 22countries through which these interests were spread were: South Africa, Namibia, Zimbabwe, Zambia, Botswana, Lesotho, Swaziland,Angola, Tanzania, Mauretania, Madagascar, Britain, Ireland, Sweden,France, Portugal, Canada, Australia, Brazil, Mexico, Chile andMalaysia). This vast array of companies and international operations provides the basis for Anglo to link up with some of the world'smost important international mining companies, such as ALCAN,American Metal Climax, Bethlehem Steel (US), International Nickel ofCanada, Rio Tinto Zinc, Kennecott Copper (US) and Newmont Mining. But Anglo's links with the world's leading multinationals go farwider than just these mining companies, taking in an assortment of atleast 73 international banking and industrial concerns.' Thus theAnglo American Group forms an important link in a vast and complexchain through which a relatively few massive international combinescontrol the bulk of the productive resources in the capitalist world.

We will not go into any detail here on the way in which AngloAmerican rose to such international prominence, since that is itself amajor task which goes well beyond our present scope. Yet a few comments on this theme do need to be made in order to assess correctlythe relationship between Anglo's international operations and its basein South Africa. Perhaps most important is to identifY the precise pointin time at which this international expansion commenced.

Although (like all the major South African mining groups) Anglo hadoriginally been based in London, the decision to transfer the Group'shead office to South Africa and the subsequent collapse of the Londonbased Consolidated Mines Selection Co. resulted in Anglo's foreigninterests being largely neglected. Although during the I920s, 1930sand I940s these were built up again the new investments tended to beconcentrated in southern Africa, especially in Namibian and Angolandiamonds and in Northern and Southern Rhodesiau copper and otherminerals. The I950s were spent mainly developing the new gold fieldsin South Africa, but in 1958 an event occurred which was to provecrucial to Anglo's subsequent international expansion: the take-over of


the Central Mining-Rand Mines Group. Carried through in conjunction with the American-based Engelhard Group, this coup gave Angloan important foot-hold on the American continent. With a stream ofrevenue now pouring out of its South African gold mines, Anglo beganto reorganize its scattered non-South African interests. ConsolidatedMines Selection was resurrected in London to combine these interestsunder a centralized control at the same time as Anglo, again in conjunction with Engelhard, took control of a major Canadian miningconglomerate, the Hudson Bay Miuing and Smelting Co. No soonerwas this take-over completed than in 1964 Anglo merged ConsolidatedMines Selection with the recently acquired Central Mining Companyand with another old imperialist war-horse, the Chartered (or BritishSouth Africa) Co., to form Charter Consolidated. From that momentonwards Anglo American's international interests grew in both scopeand size.

The important point here is that Anglo's growing international presence corresponds exactly with the early phase of its diversified expansion inside South Africa. At precisely the time Anglo was creating alocal money market in South Africa and taking its first major steps intoSouth African industry (such as through the Highveld Steel project) itwas also making its first significant moves to carve out an internationalpresence for itself through Charter. These very different phenomenaiu fact do have a common origin in the gold mines of the Orange FreeState. It was the revenue being generated here which provided thestimulus and the financial means for both aspects of Group expansion,

. helping to establish Anglo American not only as a diversified industrialand financial conglomerate in South Africa, but also as a multinationalcombine.

There is, however, a further aspect of Anglo's international expansion which is of special interest-and that is the unlikely origins ofMINORCO, which is Charter's most important partner in the international field. MINORCO began life as the Zambian Anglo AmericanCorporation (ZAMA GLO), which held Anglo's interests in Zambia,consisting mainly of a half share in the country's large copper industry.Following political independence the Zambian governmentnationalized the copper mines, which involved inter alia buying up 51per cent of ZAMANGLO. Full compensation was paid to the company's shareholders in American dollars and without any restrictionheing placed on their repatriation abroad. Shortly afterwards AngloAmerican established MINORCO in the Atlantic tax-haven of Bermuda. Fed with revenue from the Zambian copper mines (handilyconverted into dollars), MINORCO became a major international forceduring the I970s. With Charter conceutrating its investment programme on Africa, Europe and Australasia, MINORCO largely assumed responsibility for the American side, investing in Latin

236 Anglo American

America, Canada and the United States. Nor are these latter investments small-scale undertakings: by the start of the 1980s MINORCOhad become the largest single fnreign investor in the United States ofAmerica (with a total revenue of $26 570m). This position was heldahead of established oil giants like the Royal Dutch Shell Group(ranked second with a revenue of $19 830m) and BP (ranked third with arevenue of $11 023m).· It is one of the ironies of history that a strugglingunderdeveloped country such as Zambia should have created the original wealth which enabled a South African multinational to becomesubsequently the largest foreign investor in the world's most developed capitalist state.

These international developments establish beyond doubt thatAnglo American can be understood in no other way than as a multinational-and one of the world's more important multinationals at that.The fuct that its highly decentralized control structure prevents theAnglo Group from appearing on the list of the world's top 100 companies should not deceive anyone into believing that it does not belongin such exalted company. Individual Group companies, such as DeBeers and .the Anglo American Corporation itself, have on occasionreached the lower rungs of this list and, undoubtedly, were theGroup's interests to be combined for these purposes it would be apermanent fixture. However, not only is the Group large by international standards, but the very way in which it conducts its internationaloperations is an expression of its international strength. No longer doesthe Group simply spread itself across the world on an unco-ordinatedbasis: instead, it neatly divides the world up, creating Charter to takeresponsibility for Group expansion in one half and MINORCO to handle the other. Nor when we speak of the world in this context do wemean only the capitalist world. Recent evidence suggests that in certain spheres at least (such as diamonds, gold and platinum) collaboration takes place between Anglo American and the Soviet Union overinternational pricing policy.'

But perhaps it is through its American involvement that the Group'scurrent international strength is most aptly expressed. The fact thatAnglo should appear well ahead of such international giants as Shell,Bp, ICI, Unilever and Volkswagen (to mention only a few) in the list offoreign investors in the United States suggests a major new direction inAnglo's international investment strategy. But even more startling isthe fact that the Group commands sufficient financial resources toattain such a position. Such a development, of course, may have direimplications for classical theories of imperialism which assume a oneway flow of investment (export of capital) from the capitalist centre tothe periphery (see, for instance, Lenin, 1973b, and Frank, 1970b).When corporations like Anglo emerge-based in the capitalist periphery and exporting capital to the centre-it seems as if these theories

Canclusion Anglo American and South African Imperialism 237

are turned upside down. The q~estion that underlies this debate is thatof the relationship between Anglo American and South African capitalism. If one assumes that there is no integral relationship between thetwo-that Anglo is simply a free-floating international institution wit~out a 'home base' in South Africa or anywhere else-then Anglo sgrowing investments in the capitalist centres tell us absolutely nothingabout centre-periphery relations under capitalism. If, on the otherhand, we argue that Anglo's massive presence in South.Afr~ca locates Itas a specifically Sauth African institution, then its growmg mvolv~mentin the capitalist centres does have implications for centre-penpherytheories of imperialism. In particular, it poses serious proble~s forthose theories which assume that imperialism promotes growth m thecentre at the inevitable expense of the chronic underdevelopment ofthe periphery.

In this work we have adopted the perspective that Anglo Americancan only be understood as a South African-based multinational combine. It is the monopoly control which the Group came to exertprimarily in South African gold and diamond mining :-vhich has beenthe key to its subsequent success both m South Afnca. and abroad.Furthermore, we have argued that, primarily because of Its pOSItIon asa major producer of strategic minerals, South African ca~italism hasundergone important economic transformatIons, breakmg free ofchronic patterns of under-development and establishing a relativelystrong industrial base (though still retaining a dependency relatIonwith the capitalist centres). Similarly, we have argued that. thesechanges in the nature ofSouth African capitalism were accompa?,ed bychanges in its form, as monopoly relations permeated first mmmg andthen the industrial and financial sectors of the economy, ultImatelygiving rise to monopoly capitalism. At every stage of this process ~ehave seen that Anglo American played a deCISIve role. Of cruCIalsignificance here is the way in which these various processes coalescedin the late 1950s and 1960s. It was during this period that AngloAmerican, benefiting especially from its postwar investments in gold,began to diversify into local industry, finance and property, and to tak~its first major steps on the road to international expansIOn. Equally, Itwas during this period that South Africa's economy ~eveloped alongmonopoly lines. Thus Anglo's international 'take-off occurs at precisely the time South African capitalism begins to transform Itself I~tomonopoly capitalism. The question is whether these changes are comcidental or whether they express another traosition: that of the evolution of South African imperialism.

To answer this question one has to go far wider than simply recording South Africa's growing economic links internationally. In addItIon,one has to' look at the nature of these links, their effect on the hosteconomies, the political relations which accompany them and, most

238 Anglo American

important, the impact on the social classes in the host country. Thesequestions clearly take us well beyond our present scope and, in anyevent, we would be foolish to try and argue that Anglo's involvement inthe United States of America or Britain implies that these states arebeing colonized by South African capitalism. But what of smaller andweaker states which would be more susceptible to South Africa's economic and political influence? Does the transition to monopoly capitalism in South Africa have implications for these states and, if so, whatare they?

There is in fact considerable evidence that South Africa's relationswith African states, and in particular those in southern Africa, haveundergone a profound change in the post-Second World War period inwhich monopoly capitalism established itself in South Africa. Namibiaprovides probably the most clear-cut example of this. Although administered by South Africa since 1919, the relationship between SouthAfrica and Namibia changed dramatically after the Second World War.Between 1920 and 1942 Namibia's GOP did not grow at all and by 1945was only 52 per cent higher than it had been in 1920. Between 1946and 1962, however; the GOP grew by a massive 573 per cent and,between 1962 and 1973, by a further 320 per cent. W This high rate ofpostwar expansion is exceptional by international standards andreHects a new direction in South African economic policy in Namibia.Prior to the war South Africa had done virtually nothing to developNamibia's economic resources: state aid had been largely confined toresettling a relatively small number of white farmers and Anglo American had actually reduced the productive capacity of its diamond minesin order to protect its other diamond interests. After the war, however,the South African state and individual capitalists were instrumeutal ininitiating Namibia's economic recovery. Anglo rejuvenated the diamond industry and, together with other South African and international monopolies, participated in a range of other mining ventures. In1964 the South African-appointed Odendaal Commission recommended 'a broad programme of capital expenditure' in Namibia and,follOWing this, the South African state began pumping money into theNamibian economy (at least R150m was injected between 1964 and1969)." The question is: what was it that produced this volte face inSouth Africa's economic policy?

Undoubtedly, social and political factors, like the growth of a Namibian resistance movement committed to securing political independence from South Africa and the United Nation's decision to put anend to South Africa's administration, were important influences in thisrespect. But it is revealing that this policy change begins at the sametime as the South African economy begins to transform itself alongmonopoly lines-that is, during the 1950s-and that the restructuringof Namibia's political economy, which the Odendaal Commission in-


itiates is carried through at precisely the time that the process ofmono~oly transformation in South Africa reaches new heights-that is,during the 1960s and 1970s. It is thus possible that the transition tomonopoly capitalism in South Africa also produced the phenom~non ofSouth African imperialism. This view is in fact confirmed by an inspection of the nature of the links forged over this period between SouthAfrica and Namibia and of their effects on Namibia's political and economic independence. In general, these links have tended to tieNamibia into a position of increasingly strong dependence on SouthAfrican capitalism which denies its political independence, distorts itseconomy and undermines its society as a whole. l2

What seems to have happened is that in the pre-Second World Warperiod, despite the fact that South Africa was in political control ofNamibia, South Afiican capitalism was too weak to gam any majoreconomic advantage from this relationship. As we saw. during thatperiod South African capitalism was itself restrained by its relationshipto the European imperialist powers. However, the gradual shIft m theform of that relationship during the 1930s and after, coupled with theimportant developments in South African mining and industry afterthe war, greatly strengthened South African capitalism, giving it thecapacity from then on to exploit Namibia's economic potential. As th,eprocess of monopolization intensified in South Africa, so that country spolitical, economic and military stranglehold over NamIbIa has tightened. Whatever the formal legal relation between the two countnes,Smuts's words spoken immediately after the war-that Namibia'srelationship to South Africa 'more nearly approximated to that of acolonial possession than anything else'-have undoubtedly beenproved correct by history (cited in Wellington, 1967, p. 329).

But it is not just in South Africa's relationship with Namibia that theformer's imperialistic tendencies have manifested themse.lves smce thewar. The extremely close economic ties which South Afnca has forgedwith the former High Commission Territories over tbe last few decadeshave inevitably undermined the political independence of these stat~sas well. In 1965 South Africa's Prime Minister, Dr Verwoerd, stated: Ibelieve that the one thing which really counts in international relationships is common economic interests. So far as these <?over~~e~ts [ofBotswana, Lesotho and Swaziland] are concerned, theIr polItICal mterests will be dominated by their economic interests' (cited in MaryseCockram, 1970). Nor was this just bombastic rhetoric. Botswana's firstPresident, Seretse Khama, openly acknowledged the strength of Verwoerd's position when he said:

We fully appreciate that it is wholly in our interests to preser:e asfriendly and neighbourly relations with the Republic of South Afnca aspossible. Our economic links with the Republic are ~irtually indiss~lu

hie. Economically we are directly tied to the Republic for commumca·

240 Anglo American

tions, for markets, for our beef exports, for labour on the mines, and inmany other respects. 13

The economic and political strength which South African capitalismacquired through its monopoly transformation enabled the state tospr~ad its influence throughout the whole southern African regiondunng the Ifl?Os and 1970s, extending into Mozambique, Angola,MalaWi, ZambIa and (as It then was) Rhodesia. Nor has this influencebeen confined to southern Africa. The South African state's 'outward'policy of th~ 1960s, its 'dialogue' policy of the early 1970s and itsdete~te. poltcy of the late 1970s were all intended to promote South

Afnca s mfluence throughout the African continent. And even today,though revolutions in Angola, Mozambique and Zimbabwe have forcedthe South African state to change tack and adopt a more militaristicpolicy, the fundamental drive towards outward expansion-towardsimperialist domination-is stronger than ever.

It is n~t our purpose here to analyse whether or not this expansionistpoltcy Will be success~l, nor even to analyse the social and politicalforces whICh are bUlldmg up in opposition. All we are concerned to dois to establish that South Africa's transition to monopoly capitalism hasbe.e~ ~ccompanied by a ~rresponding drive towards imperialism. IfthIs IS m fact the case then It means that, even though its influence is asyet largely confined only to southern Africa, South Africa has becomean active participant in forging the international network of economic:md political relations which constitutes the modern system of imperialIsm. As such South Afnca can no longer be classified as simply anunderdeveloped Third World country, but rather must be ranked as ani~perialist power located on the periphery of world capitalism. Certamly, because of its historical location, South Africa is considerablyweaker than those 'more traditional' imperialist powers which arelocated in the capitalist centres. Yet it would be quite wrong to assumethat thIs means that therefore these powers will willingly exert pressure to force South Africa to abandon policies of which they mightdIsapprove. Though the South African economy remains technologically dependent on the major imperialist powers, the links betweenSouth Africa and these powers, especially through monopoly investments, trade and finance, are so firmly integrated that it would bealmost unthinkable that these imperialist powers would be willing touse thIS technologICal dependence as a weapon against South Africa.

The position which South African capitalism has achieved for itselfistherefore one which makes a nonsense of any imperialist theory whichargues that perpetual underdevelopment and economic backwardnessare inevitable consequences for countries on the capitalist periphery.Cl~arly, the case of South Africa (as well as of others like Brazil) posessenous problems for theories which base themselves either on thehistorical experiences of the early twentieth century or on the current


experiences of countries which do not possess commodities for whichthere is a large export demand. Without abandoning an historical approach, we need to evolve a theory of imperialism which draws on thecurrent experiences of countries like South Africa as much as those ofTanzania, Upper Volta and Paraguay. Such a theory should not only besharply critical of traditional notions of 'development' and 'underdevelopment', but should also question whether historical notions of'centre' and 'periphery' still have the same meaning today as before.Does it in fact make sense to argue, as we have done in the precedingparagraph, that South Africa is still located on the periphery of worldcapitalism or is such an approach not too 'geographically' determined?Should we not rather speak of South Africa as being today a part of awider capitalist centre, but if so, how then do we distinguish it fromthe position of the older imperialist powers? And what, too, of thechanging relations among these latter powers and, especially, of theimplications of Britain's current industrial decline? Today the processes of economic and political change are developing more rapidlythan ever before and theories of imperialism which remain locked inthe events and conditions of the early years of this century are hopelessly inadequate as explanations of these modern developments.There is an urgent necessity to produce a theory of imperialism whichcan satisfactorily answer the kinds of questions which this study ofSouth Africa has raised.

Thus to conclude we would briefly sum up our findings on the natureof Anglo American and its relationship to South African capitalismtoday as follows. The Anglo American Group has evolved into a multinational combine which is engaged on a world scale in a wide range ofeconomic activities ofwhich mining is the most important. These interests--and therefore the Group's influence-reach out from a powerbase which is firmly rooted in South African society. That society itselfis far from static. Over the past one hundred years it has transformeditselffrom an underdeveloped chattel of imperialism into an aggressiveimperialist power which exhibits many of the characteristics of a monopoly capitalist society. Foremost among these is the decisive powerwhich monopoly groups like Anglo American wield within that society.Yet if over the past century Anglo American and South African capitalism have achieved an awesome degree of power it is as well to remember that in the process they have also created a countervailing forcewhich may well have the potential to wrest that power from them. Thecapitalist class which developed the world's largest gold fields has alsoproduced the largest proletariat in Africa.

242 Anglo American

NOTES1. Financial Mail, Special Survey, 'Inside the Anglo Power House', p. 17.2. These holdings, which were split equally between the two, involved 13.25 million

shares apiece in 1973; 13.34 million apiece in 1976; and 18,33 million apiece in 1979.(Anglo American Corp. of SA, Annual Report, 1973, 1976 and 1979.)

3. Para. 166(c)(i) of the company's Articles of Association stated: 'The shares shall beuncler the control of the Directors, who may allot issue or otherwise dispose of thesame to such person or persons at such times and with stIch rights and privileges andgenerally on such terms and conditions and either at a premium or otherwise as theDirectors may think fit.' See also para. 166(c)(ii).

4. Letter to Mr. H. Oppenheimer from H. B. Samuel, dated 2 September 1966.5. AMIC, Annual Report, 1976, pp. 28-30.6. Among Anglo's more important financial interests outside South Africa were: British

and Rhodesian Discount House, Southampton Assurance Co. of Rhodesia, Rhodesian Acceptances, Merchant Bank (Zambia) Ltd, Standard Bank ofAngola, StandardBank of Mozambique, Standard Charter Bank Group, Compagnie Financiere deParis et des Pays-Bas, and International Pacific Corp. (Australia) Ltd.

Among Anglo's more important industrial interests outside South Africa were:Chilanga Cement, Durham Industries of Canada, Dunlop (Zambia), Duncan Gilbey and Matheson (Zambia), Explosives (Zambia), Engelhard Industries, Industriade Caju Mocita (Mozambique), Kenya Fertilizers, Mozambique Fisheries, MetalFabricators of Zambia, National Milling Company (Zambia), Zambia Breweries,Rhodesian Diamond and Carbide, Rhodesian Iron and Steel Corp., Rhodesian Alloys, South Wales Group, Scandiamant Aktiebolag, Terra Chemicals International,Rhodesian Milling Co., UnHor (Zambia), Werff Brothers, White Pass and Yukon,Wendt GMBH, Zinc Oxides of Canada, Zambia Clay Industries, Ultra High Pressure Units (Ireland), De Beers Industrial Diamond Division (Ireland), Industrias deCaju, Antenes SARL, Gerencia Industrial Limitada, and Christensen and BoartOilfield Products. (See Appendix 2.)

7. These include: Banca Commerciale Italiane, Banque de Paris et des Pays~Bas,Credit Foncier Franco-Canadien, Barclays Bank, Bowater Paper, Cayzer Group,British Steel Corp., Rheem International, Computer Sciences Corp., Cory MannGeorge, Deutsche Bank, Dunlop, Eastern Stainless Steel, First National City Bankof New York, leI. IMI Japan, Johnson Matthey, Kleinwort Benson, Kl6chner andCo., KZO, Volvo, Mazda, Lazard Brothers, Manbre and Gartons, Mitsubishi, Mitsui, Morgan Grenfell, Morgan Guaranty Trust, Nalco Chemicals, P. & O. ShippingGroup, Petrofina, Rothschilds, Royal Dutch Shell, Selection Trust, SocieteGenerale BeIge, Societe Nationale des Petroles d'Aquitaine, Somic, Standard Char~tered Bank, Standard Oil of Indiana, Titan Products, Union Bank of Switzerland, USNatural Oil, United Transport, Metropolitan Vickers, and Weyerhauser. In additionthe Group is linked in one way or another in productive ventures with at least eightdifferent governments: those of South- Africa, Chile, Iran, Swaziland, Botswana,Tanzania, the United Kingdom and Zambia. (See Appendix 3.)

8. Forbes, Special Report; Spotlight on International Business, 6 July 1981, pp, 83-91.9. 'Cold and Diamonds: The Kremlin Connection', BBCl Panorama programme, 6

April 1981.10. The figures for the CDP were as follows: 1920-R13.0m; 1942-R12.2m; 1945

RI9,8m; 1946-R21.8m; 1962-RI46.7m; and 1973-R615,6m. (Report of theCommission of Inquiry into South West African Affairs, 1962-3, RP no. 12/1964,p. 319; and SA Department of Statistics, South West Africa Survey 1974, p. 33.)

II. For details of these various economic changes and for an assessment of South Africanstate policy see Innes (1981b, also 1978).

12. For details see the articles cited above.13. Cited in South African Institute of Race Relations, A Survey of Race Relations in

South Africa 1966 (1007).

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