With Valterra Platinum, previously Anglo American Platinum (Amplats), demerging from Anglo American, the company on May 28 officially started trading on the JSE under its new name.

The first moments of trading under the new name were celebrated at a Market Opens Ceremony at the JSE, in Sandton.

The effective date for the demerger is May 31, following which Valterra will become a standalone company.

As previously reported by Mining Weekly, the company’s ordinary shares will be admitted to the equity shares international commercial companies secondary listing segment of the Financial Conduct Authority’s official list and to trading on the LSE main market for listed securities on June 2. This will be in addition to its existing primary listing on the JSE.

Valterra will trade under the share code ‘VAL’ on the JSE. On the LSE, the shares will trade under the ticker symbol ‘VALT’.

Speaking at the ceremony, Valterra CEO Craig Miller welcomed the start of trading under the new name and emphasised that the company would continue to deliver high-quality products while maintaining its competitive cost position and generating value through the commodity cycles.

He highlighted the potential of platinum group metals (PGMs), with South Africa hosting the majority of the world’s known resources and these being listed on many countries’ critical minerals lists.

Miller pointed out that these contributed to South Africa’s GDP and export earnings, supported a considerable number of jobs and generate substantial fiscal revenue for host governments.

He also lauded the social benefits of PGMs, including the company investing in local community infrastructure and local enterprise development.

Miller said Valterra saw strong demand for PGMs owing to their versatile applications and the company’s strategic efforts to expand their uses.

This includes PGMs being used in several technologies, more sustainable industrial processes, catalytic converters, hydrogen fuel cells, jewellery, pharmaceutical products and biomedical devices.

The company would look to leverage its South African asset base to capitalise on these opportunities, with Miller lauding its efficient processing.

“PGMs are not just a resource. They’re a national advantage, and our new name as Valterra Platinum reflects our ambition, our unity of being one team with one purpose and one future.”

JSE CEO Leila Fourie said Valterra was taking a “bold new step”, that allowed for tailored strategies, agile decision-making and a renewed commitment to the PGMs that were vital to modern industry.

She pointed out that this step came with the challenge of navigating market volatility, fluctuating commodity prices, shifting regulatory landscapes and the ever-changing tides of global demand.