Have a look at LAX AA YYZ BA LHR BA JNB and v.v.
I can see an I fare from Toronto to JNB on BA for US $6900 and change, and you could fly Y to YYZ on AA and as an EXP (probably) get upgraded. Full AA miles over the pond, too, as you're flying from Canada.
Might also depend on your travel dates, too. Do you have any other travel planned to Europe or Asia? If so, then RTW or circle products can be purchased there for way less $$ than originating in the USA.
Another thought - if you're LA based (don't say) and have (and you should) an AS account, then you could fly on Delta from NYC and book the miles to AS, then redeem them on any number of AA partners, including AA itself.
Editing - missed the previous post with dates.
The Iberia fare is available, or one via NYC for $1000 more; however IB doesn't fly the JNB route every day, so you might need to come back on the 31st instead. Also their flight leaving MAD arrives at JNB right around noon, so if that doesn't work on your schedule it'll cost. However, if the price difference is a couple thousand bucks each way, maybe it's worth it to juggle your work schedule a little if you can.
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