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Definition

A large multi-national company which specialises in the exploitation of minerals. There are several very large mining houses world-wide and most of them are invested to a greater or lesser extent in South Africa. The recent trend by these mining houses has been to disinvest from South Africa because of the uncertain and adverse legal environment, especially since the advent of the third mining charter which has still not been finalised. Anglo American, the iconic South African mining house, has sold the last of its South African gold mines (Mponeng) for a give away price, at least partly, because it does not want to have to deal with the local legal requirements and uncertainty.

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