Duncan Wanblad

DUNCAN Wanblad’s 2022 appointment as Anglo American’s CEO was seen as a return to the company’s South African roots, but Wanblad had other plans. While defending against BHP’s bid for Anglo in 2024, Wanblad accelerated the company’s restructuring plans, which among other things saw the demerger of Anglo American Platinum. Fixated on copper – the commodity of choice for many these days – he capped 2025 off with a bold ‘merger of equals’ with Canada’s Teck Resources, which will be headquartered in Canuck land. Shareholder and Canadian regulatory approval clinched the $50bn takeover of Teck in December.

The new company Anglo Teck will have more than 70% exposure to copper, which is firmly in line with Wanblad’s strategic vision. In addition to seeing through the formation of Anglo Teck, Wanblad must also oversee the disposal of storied diamond giant De Beers, which has lost much of its shine in the face of surging demand for far cheaper lab-grown gems. The suitors include world  No. 1 diamond producer Botswana, which has been pointedly warned by the International Monetary Fund not to raise its stake in De Beers. This is a tricky political egg as Angola and Namibia have expressed an interest in owning shares.

There’s also the question of Anglo’s metallurgical coal mines in Australia which remain unsold after Peabody Energy pulled its offer last year. Make no mistake, however, in just three years, Wanblad has completely altered Anglo and proved wrong the sceptics who thought he would remain in the shadow of his former boss, Mark Cutifani.