This is happening to Africa’s wealth

Speaking of what happens to Africa’s wealth, it may be worth looking to see what is happening in the mining world. A Guardian report (25/10/2006) sates:
“Anglo American, the world’s third largest mining group, yesterday shocked the City when it broke with tradition and announced it had chosen an outsider to lead the company when the chief executive steps down next year. Even more surprising in a male-dominated industry, the new boss is a woman.”
Does appear to be a blow for equality, but clearly there are some who don’t welcome the news:
“Some analysts, however, worried about Ms Carroll’s lack of experience. Alcan is an aluminium producer – an area where Anglo has no interests. Ms Carroll has also worked for Amoco, the American oil company that merged with BP in 1998. One analyst said: “Oil and aluminium have got nothing to do with Anglo. She has no direct experience in anything Anglo does.”
Analysts at UBS added: “In our opinion, heading Anglo is one of the more challenging positions in mining due to the complexity of the group and time spent on ‘soft issues’ such as South Africa.” Anglo American still generates about 40% of its earnings from South Africa. Under the country’s policy of black economic empowerment, the company has to liaise closely with the government.”


Clearly there is support for Cynthia Carroll within the industry in South Africa however:
“The fact that Ms Carroll is a woman has also come as a surprise in an industry traditionally dominated by men. Smangele Mngomezulu, national general secretary of the South African Women in Mining Association, said: “We were founded in 1999, and it has taken this far for mining houses to realise that they can have women in top management.” She said the Anglo appointment could encourage other mining companies to take the same action.”

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