By Lesedi Sibiya-Diplomatic Insider 

CEO of Anglo American, Duncan Wanblad, has expressed that mineral exploration in South Africa has become non-existent due to the country “owing to unsupportive policies.”, Wanblad expressed this during his address at the Joburg Indaba 2025. 

“South Africa is underexplored today because it had an unsupportive policy for exploration in the last 20 years. That is a very important part of the mining life cycle.” said Wanblad.

 “It takes about 17 years from finding a deposit to get to full production. If I’m right, that is a generation of mines that has been forgone”.

 Anglo American had cut South African exposure earlier in the year as it sold its remaining 19.1% stake in Valterra Platinum, a subsidiary of the company’s platinum group metal (PGM) assets which was called Anglo American Platinum when it was part of Anglo.

 Anglo is also preparing to undergo discussions to sell 85% of its stake in De Beers as well as Botswana, which serves as Anglo’s JV partner in De Beers has also expressed interest in increasing its stake in the company and potentially taking control.

 Despite the eagerness to sell, it has proven difficult due to the diamond market experiencing a slump. “The markets are still challenging for De Beers…but there are lots of green shoots. It feels like we’re not sinking in the market and that it is bottoming” said Wanblad.

 “There are a number of interested parties in De Beers that love diamonds which is very positive. We don’t just have private equity” Wanblad added. 

Anglo has also unveiled its merger with the Canadian company, Teck Resources, last month and has expressed that their merger remains intact after the firm had announced that it will be lowering its copper production targets for 2025. 

The revised production target now sits at 415,000 from its initial 465,000 tons this year as their previous guidance was 470,000 to 525,000 tons.

 “While the specific outcome of the operational review that Teck has announced today was not known at the time, the outcome presented by Teck is broadly consistent with Anglo American’s independent due diligence and analysis” said Anglo in a released statement.

 “On this basis, the overall strategic rationale for the merger and all synergy values and their timing, as outlined in the September 6 merger announcement remain unchanged” the statement read further.