President Thabo Mbeki and Anglo American’s top executives met behind close doors at Mbeki’s home in Cape Town on Tuesday.
Anglo American chief executive Tony Trahar, accompanied by Anglo American South Africa’s newly appointed CE, Lazarus Zim, and chairperson Mark Moody-Stuart, requested the meeting to discuss the company’s financial results.
These were released earlier this year.
Presidential spokesperson Bheki Khumalo said there was nothing unusual about this and that the president often has discussions with the leaders of businesses operating in South Africa.
The mining giant refused to comment.
The formerly South African company is the world’s second-largest mining company.
It reported a profit increase of 45% to post a second-half record profit of $1,2-billion (about R6,9-billion) after the Chinese economy’s rising demand for metals ranging from copper to iron ore.
Last September, Mbeki and Trahar locked horns after Trahar was quoted in a local publication stating there was still some political risk associated with doing business in South Africa.
In his weekly online letter, Mbeki lashed out, demanding to know what the risks were ”that had started to diminish but had not gone”.
”Is this the risk that persuaded Anglo American that it should list and redomicile in London, while speaking to us only about the size of capital markets?” he asked.
He added: ”The poor and the despised, who worked for Anglo American and other companies that made it during the years of white minority rule, paid a pittance for their labour, are today’s voters…
”Do they deserve to be computed as a political risk, when everything they have done and said has made the unequivocal statement that they are ready to let the past bury the past?”
In a short media statement on Tuesday, Zim confirmed that the meeting had taken place.
”This was a courtesy call to update the president on our transformation strategy, our recently published annual results and our R24-billion investment projects in South Africa,” said Zim. — Sapa