/ 1 January 2002

Anglo pours water on manipulation claims

National Foods is an ”independently managed associated company and not a long-term component” of Anglo American plc business in Zimbabwe, Anglo American said on Monday.

Zimbabwe’s Sunday Mail reported that National Foods was majority-owned by South Africa’s Anglo American and President Robert Mugabe accused National Foods of manipulating food shortages to sabotage the economy.

Mugabe’s comments came after allegations that the company, National Foods — the country’s biggest food distributor ? was hoarding salt, the latest shortage to hit the nation.

A representative for Anglo American, Michael Spicer, said the company remained a committed and responsible business partner in the countries in which it operated.

”The company does not engage in activities such as those referred to in statements publicised in recent press reports. As in any country, the prime concern of investors is with economic stability. Fundamental to such stability is policy certainty and respect for the rule of law,” he said.

The Zimbabwean media had quoted certain incorrect facts in reporting this story.

”It is well known, Mr Nicholas Oppenheimer does not own Anglo American, nor is he the Chief Executive. Mr Oppenheimer is a non-executive director of Anglo American plc,” Spicer said. The Oppenheimer family interests have a small minority shareholding of 3,56% in Anglo American, he said. – Sapa