Anglo Faces Criticism over Zimbabwe Investment

Anglo American is facing criticism in the British press for a proposed $400 million investment in Zimbabwe, due in part to growing pressure on the African country to allow free and democratic elections. Some of the steps taken against the country include pressuring companies to withdraw from Zimbabwe as long as Mugabe is in control.

The mining company is reportedly planning to build a platinum mine in Zimbabwe. This, according to Times Online, irked politicians and caused some concern among shareholders.

According to Anglo Platinum’s website, the company has ongoing exploration activities in Zimbabwe, and it notes that it is holding ongoing negotiations with the government. There is no mention of a planned investment in a mine in the country. The company was not immediately available to comment.

The British Foreign Office is investigating whether Anglo’s investment breached sanctions against Zimbabwe, according to Times Online.