Anglo American has successfully sold its entire remaining stake in Valterra Platinum, marking the final step in its strategic divestment from the platinum group metals producer and raising about R44.1 billion ($2.5 billion) in cash proceeds.
The sale was executed via an accelerated bookbuild offering launched on 3 September 2025.
Various entities controlled by Anglo American sold about 52.2 million ordinary shares—their entire 19.9% interest—at a price of R845 per share.
This move follows through on the company's stated intention, announced just a day prior.
Anglo American explained that the demerger of Valterra Platinum at the end of May 2025 was a key part of its plan to unlock value and accelerate strategic delivery.
At that time, the company had retained the 19.9% shareholding with the intention of completing the full separation "responsibly over time."
In its statement, the company cited the "performance of the Valterra Platinum share price since the demerger" as the reason for proposing to now sell 100% of its remaining holding.
The Placing was described as a move that would "raise further cash proceeds for the Anglo American group, adding to the strength of its balance sheet."
“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,” said Anglo American chief executive Duncan Wanblad.
“Valterra is perfectly positioned to benefit from the increasingly attractive structural market dynamics for PGMs.”
Anglo American said that Valterra Platinum, which gained an international secondary listing on the London Stock Exchange in addition to its primary listing in Johannesburg as part of the demerger, was not a party to the Placing and will not receive any of the proceeds.
The offering was made solely to qualifying institutional investors.
Mathew Nyaungwa, Editor-In-Chief, Rough & Polished
