Anglo American will seek the approval of its shareholders for the demerger of a portion of the company’s 67% owned platinum group metals business, Anglo American Platinum (Amplats) at a general meeting on 30 April 2025.
Anglo is offloading its platinum, diamond, and coal businesses to focus on the company’s world-class positions in copper, premium iron ore, and crop nutrients.
The group has already sold down an 11.9% shareholding in Amplats from its original 79% shareholding and will retain a 19.9% shareholding following the demerger.
It intends to retain the 19.9% shareholding for at least 90 days following the demerger, with this position to be managed responsibly over time to effect a full separation.
Anglo has already increased the free float of Amplats by more than 50% to help improve share trading liquidity in the company while the number of its shares to be distributed through the demerger has been reduced by about 40%.
These steps, it said, are expected to help make the implementation of the demerger more efficient and mitigate flow back post-demerger.
“Anglo American Platinum has been part of the Anglo American group for many decades as a leader in the platinum group metals industry. While there have been many benefits of being part of Anglo American, it became increasingly clear that the valuation and value creation prospects of both companies could be better optimised as two entirely separate entities,” said Anglo chief executive Duncan Wanblad.
“Anglo American Platinum is now set up to thrive independently and, with the exceptional management team in place, now is the right time to demerge the business and as a result allow our shareholders to participate directly in its success.”
Amplats will be renamed Valterra Platinum after the demerger.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
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