HomeBase MetalsSA Department of Mines meets with Anglo, Xstrata

SA Department of Mines meets with Anglo, Xstrata

South African
minister of mines
Susan Shabangu
Cape Town, South Africa — MININGREVIEW.COM — 26 June 2009  – The South African mines department director-general Sandile Nogxina has held separate meetings with a delegation of officials from Swiss-based Xstrata – the fifth largest diversified metals and mining company in the world –and CEO Cynthia Carroll of  Anglo American plc – one of the world’s largest mining companies – on the issue of a possible merger between the two mining giants.
Nogxina – whose department is overseen by the mines ministry – did not meet Xstrata CEO Mick Davis, said departmental spokesman Jeremy Michaels. “The ministry still wants more clarity on any proposed transaction,” he added.

The South African minister of mines said earlier this week that the government was opposed to a possible merger between Xstrata and Anglo American plc, terming such a potential move as “unacceptable”.

Addressing reporters here, Minister Susan Shabangu said: “that is unhealthy. It is uncompetitive, and in terms of the global standards and principles it is just unacceptable. Definitely monopolies cannot be promoted in South Africa,” she added.