Anglo American raises R44bn as it sells last remaining shares in Valterra
Diversified miner Anglo American has raised cash proceeds of R44.1-billion, or about $2.5-billion, from the sale of its remaining shares in South African platinum group metals (PGMs) producer Valterra Platinum.
Anglo on September 3 launched an accelerated bookbuild processing, offering to sell 52.2-million shares in Valterra – previously known as Anglo American Platinum (Amplats) – at a price of R845 a share.
Following the demerger of Amplats from the Anglo group in May, Anglo retained a 19.9% shareholding in the PGMs producer, which in May started trading under its new name and listed on the JSE and the LSE.
The performance of the Valterra share price since the demerger prompted Anglo to sell its remaining interest in the PGMs producer.
"Valterra Platinum has made a strong start as a standalone company and we continue to have every confidence in its future as the world's leading integrated value chain producer of PGMs.
“Valterra is perfectly positioned to benefit from the increasingly attractive structural market dynamics for PGMs,” Anglo CEO Duncan Wanblad commented in a September 3 media release.
He pointed out that the sale of its last remaining shares in Valterra marked further progress in the group’s responsible separation process and was a further step in its portfolio simplification drive to focus on its copper, premium iron-ore and crop nutrients.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation