The Globe and Mail reports in its Saturday edition that Ernest Oppenheimer, who founded the Anglo American mining empire in 1917, along with his son Harry, ruled South Africa's economy at a time when the country dominated the global mining sector, making Anglo American one of the world's biggest and most powerful corporations. The Globe's Geoffrey York writes that today, Anglo American is a symbol of the slow decline of the country's mineral industry as costs soared, mines closed, production dropped and investors relocated. Today the Anglo American brand is on the verge of disappearing forever, merging with Teck Resources to become a new $50-billion (U.S.) entity, Anglo Teck. The new company will be headquartered in Vancouver, with most of its top executives moving to Canada. While the Teck transaction could be a lifeline for the 108-year-old company, it represents yet another setback for South Africa. While Anglo still controls several major assets in South Africa -- including the diamond mines of De Beers and giant iron ore producer Kumba Iron Ore -- the company has long preferred to chase copper projects in Latin America, a trend that will accelerate if the merger is approved. It is even trying to sell De Beers.