MAC/20: Mines and Communities

Anglo American takes charge of US$101 million due to silicosis action

Published by MAC on 2017-07-30

Anglo American takes a charge of US$101 million due to silicosis action

28 July 2017

Anglo American has set aside US$101M to settle legal action from a group that allegedly contracted silicosis or tuberculosis as a result of having worked for various gold mining companies including some in which Anglo American was either a shareholder or provided various technical and administrative services.

Anglo American is one of 32 respondents to the consolidated class certification.

About a year ago South Africa's high court ruled that mine workers could claim damages for contracting silicosis. The defendants are appealing the ruling with a hearing planned for March 2018.

Anglo and the other respondents are negotiating with the affected stakeholders. The charge of US$101 million represents the company's best guess as to the ultimate settlement.

Details of the charge are found on page 49 of the company's 2017 interim financial results

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