As CEO of Anglo American, Aussie Mark Cutifani is the ultimate manager of Vergelegen. In a shocking revelation, the Financial Times today reveals that Mark was paid R75 billion last year. Mr Cutifani, who recently told the FT’s James Wilson that the miner took “more time than we should have” to sell underperforming assets as it became clear that the commodities bubble had burst, notched up remuneration totalling £3.4bn for 2015, hardly changed from the £3.7bn he earned in 2014, according to the annual report released today. The miner’s shares have dropped 75 per cent since Mr Cutifani took over in January 2013.

Which goes a long way to explaining why V is so expensive.