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letsdothis3 ago

Engelhard and Apartheid pdf http://psimg.jstor.org/fsi/img/pdf/t0/10.5555/al.sff.document.acoa000283_final.pdf

Engelhard inherited a family industrial empire, based on platinum, silver and industrial gold. Engelhard Industries Inc. is the principal arm of the organization, having plants in Canada, the United Kingdom, Italy, Switzerland, Australia and Colombia. It is the world's largest refiner and fabricator of precious metals and holds a monopolistic position in the bottleneck between miner and consumer. Engelhatd Hanovia, which is mainly owned by the family, has 72.2% of the stock of the dajor company. Now Engelhard Industries has no interest in South Africa, though it cannot be denied that Engelhard Hanovia is involved in that country's mining and industry. Originally the tycoon's movements were backed heavily by Dillon Reed and Co., but it must be admitted that now nearly all the oapital for the South African industries comes from local loans or the plough-back of indigenous profits. Certainly in 1958 Engelhard had organized the American-South African Investment Corporation, raising $30.million in the US, but since then, the Corporation has of course been self-sustaining.

..The principal Engelhard organization in South Africa is Rand Mines. Rand Mines is efi'ectively an investment company with 56% of investments in gold and uranium mining in 196/ :ixn: and 66% of its income flow from that source. However, the proportion of mining investments is declining, viz. in 1963, sixty per cent (60%) of the investment was in mining and 71% of the income flow from this source.6 The purely financial and industrial aspects of the company are broadening, but being in an early stage, such investments are not yet providing a concomitant return flow

Charles W. Engelhard directly controls nearly 15% of South African gold production and almost 20% of uranium production. Through his other directorships, particularly of Anglo-American Corporation, Charter Consolidated and the Rand Selection Corporation, he influences mineral policy decisions of producers of two-thirds of South African gold and uranium. Interest in more minor metals has been demonstrated. We should further note that Engelhard fabricates all US platinum supply. The principal quantities of platinum imported are from International Nickel Company in Canada, but 28% has its immediate aouvce in the United Kingdom. South Africa supplies 40% of free world platinum and most of that finds its way to the United Kingdom.