The Johannesburg headquarters of Anglo American are suitably grand for the biggest firm in Africa and one of the world's largest mining companies. Mighty stone blocks, towering pillars and a stained-glass window are topped with a sculpture of an Aryan-looking man clasping a bolt of lightning. It is a long way from Bethlehem, a grim provincial town to the south where Lazarus Zim lived in a shack and walked barefoot to school. But over at 44 Main Street, Mr Zim has just become the first black boss of Anglo American's South African operations. Mr Zim reports only to the global boss of Anglo American, his compatriot Tony Trahar. The parent firm, listed both in London and Johannesburg, recently reported a rise in earnings of 59%, or $2.7 billion. Mr Zim sits atop a collection of South African firms-Anglo Gold Ashanti, Anglo Platinum, Anglo Coal and others-that last year contributed over a quarter of Anglo American's worldwide revenue. And that was a bad year. In 2002, when the local currency, the rand, was favourably weak, South African subsidiaries alone chipped in 42% of total earnings.
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