Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Anglo American CEO Says South Africa Mine Tax Needs No Changes

Don't Miss Out —
Follow us on:

June 6 (Bloomberg) -- Anglo American Plc Chief Executive Officer Cynthia Carroll opposes South African tax changes because the current system already ensures the fair distribution of the benefits of mining.

Carroll made the comments in reference to a report commissioned by South Africa’s ruling African National Congress recommending additional taxes.

The report “argues that the proposed new tax is necessary to ensure that the state benefits appropriately from the profits the mining industry earns,” Carroll said today in a speech in Johannesburg. “Yet the existing royalty regime was introduced for exactly this purpose.”

To contact the reporter on this story: Carli Cooke in Johannesburg at clourens@bloomberg.net

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.