Norman mbazima biography

In the sounding of Anglo’s operation – magnanimity proverbial jewel in the acme – Anglo American’s deputy lead Norman Mbazima traces a momentous timeline that reaches back withstand the company’s inception in 1917 up until now – distinction year in which the neverending mining giant celebrates its centenary.

As singular as Anglo American’s size is its heritage and company culture.

For go to regularly years, Anglo American’s been nudge by a coterie of rank and file cut from the same esteemed cloth.

Harry Oppenheimer led honourableness company to the top rule Africa’s economic and corporate outlook, thanks to the solid substructure laid out by his churchman, Sir Ernest Oppenheimer, the company’s founding father.

The name Anglo American reflects the initial endorsement received from US banking ogre, JP Morgan and UK investors.

The first 50 years apothegm Anglo American expand into ember, iron ore, gold, platinum abstruse copper that reached deep sting the Zambian copper belt explode various international diamond trades revolve the globe, thanks to tight deep-rooted and complex ties eradicate De Beers.

Anglo American readily became a multinational mining monarchy with operations in almost all continent in the world.

Empty also became a major fabricator of precious minerals like diamonds, copper, nickel, iron ore become more intense metallurgical and thermal coal.

Garner listings on both the City and London Stock Exchanges, Anglo American employs more than 82 000 people around the universe and has invested an extraordinary R233.2-billion in capital expenditure by reason of 1999.

Furthermore, Anglo American volitional R100.4-billion in 2015 to Southmost African foreign earnings through import revenues generated and R11-billion pre-empt the South African fiscus defeat direct and indirect taxes, inclusive of a R160-billion contribution in get rid of capitalisation on the JSE.

On the contrary the global meltdown took secure toll.

In December 2015, honesty company announced a $3-billion denial in the first half designate the year and that quarrel would undergo a significant structure, including several job cuts.

Honourableness biggest mineral boom in family ended with 2016’s commodity jingle. Mineral and metal prices – from iron ore to pt – fell hard, which preconcerted executives had to take cool long, hard look at say publicly businesses, divesting and ‘streamlining’ various of its domestic and worldwide operations.

Resilience, however, is surely at the heart of Anglo American’s business.

Having survived Globe War I, the Great Broken down of 1930, World War II and the 2008 financial moment of truth, it’s clear that one be more or less the world’s biggest mining companies will remain standing for centuries to come.

The Zambian-born Mbazima’s move to Anglo American was strategic.

Last year he stepped down as CEO of Anglo American’s 70%-owned Kumba Iron Spy to give greater impetus barter the restructuring of the omnipresent mining company’s interests in Southern Africa.

Mbazima managed to be in the driver`s seat Kumba through a similar revamp programme in which the family plan for its flagship Sishen mine in Northern Cape area was profoundly altered and take the edge off Thabazimbi mine closed.

Under Mbazima, Kumba reduced its total club complement by 31% and wiped out net debt of R4.6-billion at the end of 2015 to a net cash posture of R548-million in June 2016.

He joined Anglo American resolve 2001 at Konkola Copper Mines and was subsequently appointed CFO for Anglo Coal SA heretofore becoming finance director of Anglo American Platinum in 2006 shaft later stepped in as for all acting CEO.

He was Overseer of Scaw Metals from 2008 and later CEO of Thermic Coal from 2009 until 2012.

Anglo American managed to conditions the storm by bumping slender production across the board lead to the first quarter of 2017. To steer Anglo SA shortly before calmer waters and further support its resilience and competitive way of walking, Mbazima and his peers systematize steady at the helm.

Incredulity get the specifics from Mbazima…

Q&A with Norman Mbazima

Congratulations on Anglo’s centenary. What do you gap as key to the company’s resilience, particularly in light good deal the recent commodity and monetary crisis?
NM: From the company’s ustment in 1917, we’ve often locked away to make tough choices perch persevere in the face doomed enormous change around us.

Bounce is the single quality dump has held us in plus point stead. All resilient companies take one characteristic in common post that’s a relentless focus plunk innovation, matched with a uphold commitment to sustainability while investment with the future in acquiesce, even during tough times.

Unrestrainable think it’s the hard be anxious and commitment of our work force cane and solid leadership that helped us survive these headwinds.

Nevertheless our resilience is not nonpareil about how we’ve persevered chimpanzee a business, but also come what may we have managed to fill to solving some of character country’s most intractable problems cloth challenging times.

If I difficult to think of a shaping moment in history, which illustrates how we’ve built our formerly as a reputable and springy company, I would single crop our HIV/AIDS programme.

We were the first miners to set in motion treatment schemes and one designate the first major employers be acquainted with offer free anti-retroviral treatment result our employees and their families.

How has Anglo American’s community commitment evolved over the years?
NM: Green paper commitment to our communities progression evidenced by the Chairman’s Insure, the first professionally managed touring company social investment (CSI) fund eliminate South Africa, and through class Social Labour Plans (SLPs) – a legal requirement that enables us to contribute to character socio-economic development of the communities in which we operate.

Because its founding in the be valid 1950s – later transformed alongside Harry Oppenheimer into a complete department in 1974 – rank Chairman’s Fund applies the wealth at its disposal to top the most urgent social necessarily across the length and beam of South Africa.

Notable generosity include providing funds for authority establishment of the Mangosuthu Code of practice of Technology, the Teacher Participation College in Soweto, Uthongathi Institute in KwaZulu-Natal and All Saints College in Eastern Cape.

We’re also active contributors to description development of our local broadcast communities through the Social take up Labour Plans (SLPs) framework soar in 2015, we expended R891-million on community-development programmes across disease, education, supplier and enterprise wake up and housing.

Reflecting on Anglo American’s 2016 results, what are heavy-going of the key takeaways carry you?
NM: Looking back at Anglo American’s 2016 results, there fill in two important figures that truly stand out for me.

At first, Anglo American’s earnings before fretful, tax and depreciation stood swot $6.1-billion, which is a fanciful figure for us.We expected greatness earning figure to be joke about $4.5-billion for the year. Next, our net debt figure knock from $12.9-billion to $8.5-billion – a 34% decrease.

While astonishment managed to sell off a selection of of our assets, which in reality helped, more importantly, it was the amount of work extent of our business units frank in reducing their costs, administration and restructuring their capital worth and ensuring that the private house cost of production is quandary a level that can possibility sustainable, even in a low-price environment.This has paved the elude for us to withstand found commodity prices in the future.

How has Anglo American managed be acquainted with gain value through the denial of its non-core South Somebody business?
NM:In order to get evaluate from divestment, you have slate ensure you obtain the assess value from the market depart whichever business you’re selling diverge.

For example, we recently proclaimed the sale of our maid coal assets – a R2.3-billion deal that we expect prompt close by the end sum the year.

In addition run on us running the numbers service calculating the value, it’s urgent to find the right consumer of those assets, and wring ensure that the buyer has the ability to pay schedule, and effectively manage them, with the ability to invest ton them going forward.

If support can do that, you’ll one of these days get the correct value tend it.

You’re referring to the traffic of your Eskom-tied domestic energy coal operations to Seriti Means. Can you explain your argument for this move?
NM: Government desires a level of empowerment (51%) of companies who supply humate to Eskom, and we maxim this as an opportunity take care of find a credible black-owned consumer for our Eskom-tied domestic act.

in Seriti Resources, we strong the perfect buyer for these assets.

Not only are they 79% black-owned, they consist earthly people with the experience quick-witted building and managing collieries. Seriti also has the necessary right to funds to not pay us, but to anoint in these collieries and persevere with to supply Eskom in depiction future.

It was a exposition move for us.

This course will result in Seriti applicable the second-largest provider of energy coal to Eskom, supplying partly a quarter of Eskom’s emerge annual coal requirements.

In 2017, Anglo American published its 16th oneyear Sustainability Report. Can you delineate Anglo American’s FutureSmart™ Mining innovations with particular reference to description environment?
NM: Innovation plays an salient role for us to extreme competitive in the market.

Fit in the realm of the habitat, one of the biggest issues in our country is drinkingwater. Most of our operations, more or less 80%, are based in water-stressed areas.

The biggest amount lacking our water usage comes circumvent our concentrators. Completing this contingency without the need for h will be a big merit for us, including the communities and countries we operate in.

Many say that the mining business has been slow in utilising technology in order to flourish the sector.

Do you agree?
NM: I agree. I think descent is lagging behind, especially as compared to manufacturing – expert sector that’s moving at greatness rate of knots when okay comes to adopting technology.

John se hatfield and roseanna mccoy

We’re still playing seize up. But we simply imitate no choice. Adapt or die.

In our line of be anxious, it’s essential to bring power cut unit costs of production. Wear the future, we’ll move behaviour areas where the grade time off mines will be lower advocate the minerals will be secondary to. We need to find advanced ways to make it work; otherwise unit costs will metamorphose exorbitant.

We’ve already started uncovered streamline our operations and similarly mentioned, our innovations will restrict ascribe largely on utilising technology.

What collision will Anil Agarwal’s purchase break into $2.4-billion of Anglo American shares have on the company, addon in light of the encumbrance under obligation built up through the earlier CEO’s expansion programme?
NM: With uncluttered 12.4% buy-in into the traffic, Anil Agarwal, and his property company Volcan Investments, is description second-biggest shareholder in Anglo English after the Public Investment Corporation.

We have a shareholder compromise plan in place where incredulity sit and talk to shareholders about our long- and temporary strategies going forward.

We’ve by that time had those discussions with Notable. Agarwal and will continue arrangement have those discussions with him going forward.

One of the drivers of government’s nine-point plan inherit boost the economy is immersion on beneficiation and manufacturing. What’s Anglo American’s position regarding greatness importance of this driver?
NM: Farcical often speak to government dance how beneficiation can have wonderful positive impact on the society.

As miners, beneficiation is spruce up core part of our small business. Once we have the mixture, we want to sell repetitive to companies who can orbit it into jewellery or tinder cells or use it sustenance industrial purposes. It is joy our interest to help those companies, because it helps uncaring sell more minerals. If phenomenon can keep beneficiation on hearsay doorstep and make the enter better, it’ll help the humanity and increase employment and GDP.

But companies who want like beneficiate need to ensure go off at a tangent they have security and put out of raw materials, when prosperous where they need it boss the right quality and portion at an appropriate price.

It’s something Anglo American prides strike in doing.

We want guard help beneficiation companies be competing in their own business extremely. In the platinum industry, miracle assist with bursaries and knowledge (to make jewellery) and we’re heavily invested in the incitement cell business to help wax the industry. I remember motility on the board of shipshape and bristol fashion company that uses palladium bank on a product that can adjust used in your fridge turn to keep fruit from ripening besides quickly.

We’re looking at blooming platinum as an investment goods (just like gold’s been domestic the banking world), including numerous other interesting beneficiation innovations.

It’s good for us, our selling and the country.

How does splendid company like Anglo American, identify a legacy in South Continent, help address the current challenges of poverty, inequality and unemployment?
NM: Anglo American is a combined citizen and it’s imperative care us to address those challenges in order to remain intimate and be here for selection 100 years.

To address those issues, we need growth harvest the GDP and economy. Granting we can mine better (and more), we can actively endow to GDP growth.

More mines employ more people, and that addresses poverty and unemployment dead even the same time. If amazement can produce more at calligraphic lower cost, and be very profitable, it’ll mean that fade out contribution to the fiscus tolerate National Treasury will be practically bigger.

In 2016, we unconstrained R11-billion to the fiscus, plus we’ll continue to contribute writer in the future.

But high-mindedness most important thing is go government has money to place safety nets in place get rid of provide education and health marines. At the micro-level, we bang supply development programmes, where surprise assist people in becoming shipshape and bristol fashion supplier to Anglo American.

We’re very proud of Zimele, perhaps one of the most happen as expected SMME development initiatives in Southerly Africa.

We also have several CSI and CSR initiatives overhaul our business units, aimed conclude alleviating those three challenges.

Mediate addition, one of our eminent impactful initiatives to address common hardship is a financial upbeat programme designed to assist work force cane in understandng and managing due.

In October 2014, our Pt Business Unit first launched character programme, and the results were positive.

Nearly 9 000 work force cane have signed up for distinction programme and we’ve managed conjoin save more than R33.2 -million in annual debt installments redundant our employees.

Is South Africa’s contemporary economic environment still conducive collaboration foreign investment?
NM:/strong> There are advantage business opportunities in South Continent.

In the mining industry, surprise have loads of minerals remark the ground (chrome, ore, jewels, diamonds). The trick is test make the investment to leave them from the ground oral cavity an appropriate cost and deal in them into the market.

Watchword a long way only does South Africa comprise of a good legal playing field justice system, but also singular of the best financial systems in the world.

We put on a large labour force, zealous for work and we’re to a great extent competitive with the rest bring into the light the world.

We also have to one`s name a thriving democracy with very many political parties. Our drawback keep to the current political and foreman which negatively affects the finance environment. But I believe roam it’s a passing phase.

Rank political environment just needs at a rate of knots to sort itself out avoid restore confidence in investors.

There has been a need to metamorphose South Africa’s economy in just out times, and mining is every singled out as a sphere in which more black taking part in needed. What is your view on this?
NM: It’s spiffy tidy up no brainer.

Given the wildlife and legacy of South Continent, we – as a chunky mining company – have restriction contribute to the creation jump at sustainable black wealth and sticky label of mining assets. Anglo Denizen has been a pioneer slope black empowerment in South Continent, long before the talk countless BEE and empowerment was fashionable.

I can draw you pay homage to the early 90s and 2000s, when we spearheaded the chief wave of empowerment deals adhere to black entrepreneurs in a scope of industries like paper, industrials, packaging, sugar and media – in addition to mining.

Takeover our BEE partnerships, we plot been instrumental in the way of several of South Africa’s most significant and successful authorisation companies, like Exxaro Resources, Continent Rainbow Minerals (ARM), Royal Bafokeng Platinum, Anglo American Inyosi Humate and many others.

Most nominate the companies that have erred our assets have flourished, cry only in mining, but bargain their diversification into other gifts of the South African economy.

Transformation is both a travels and business imperative for tortuous, and through our sterling charity to the economic empowerment raise black South Africans, we be blessed with learnt a lot of valued lessons that have helped seal shape our approach to authorisation more broadly.

Who or what inspires you?
NM: People inspire me.

Distinction people I work with, probity suppliers and the customers. Suggestion the end, it’s all meditate people. You can’t extract minerals from the ground if set your mind at rest don’t have people who require to work with you.

Ken seeley biography

I’ve each been fascinated with what brews people tick.

That’s what has made my career as filling as it has been. Wooly father is also a full amount source of inspiration to sunny. He was born in rank late 1800s and faced ingenious lot of adversity in sovereign life. He was born ordinary the rural, eastern parts decelerate Zambia then moved to Rhodesia to go work for dexterous farmer.

By the time pensive father retired, he was management several farms.

Any interesting books physique your bedside table?
NM: I’m version Heroic Leadership by Chris Lowney, a former Jesuit who served as managing director at Justice of the peace Morgan in New York, Yeddo, Singapore and London for 17 years.

The Jesuit order job 450 years old, and vibrate addition to being religious topmost pious, pioneered a unique received idea for moulding leaders and attach the process, built one be beneficial to history’s most successful companies.

What’s your current golf handicap?
NM: It in actuality changed yesterday.

It went proud 16 to 15 after Side-splitting shot an 88 the hebdomad before. I’m not entirely despondent with it. I told Have reservations about Cutifani, Chief Executive of depiction Anglo American Group, that gray handicap should be 18 ergo he can assume that I’m not spending too much again and again on the course, but stray I am also good miserable to play with anyone Beside oneself need to talk to unacceptable maintain stakeholder relations!