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Anglo American PLC said on Thursday it has raised R 44.1 billion, about $2.5 billion, after disposing of its entire interest in Valterra Platinum Ltd, formerly called Anglo American Platinum Ltd. The London-based diversified miner offered 52.2 million shares of Valterra at R 845 each through accelerated bookbuild. Shares in Valterra finished 8.8% higher at R 924.28 in Johannesburg on Wednesday. They closed up 9.3% at 3,890.00 pence in London. Anglo retained a 19.9% shareholding in Valterra after it demerged the platinum producer late in May as part of its portfolio simplification. Anglo had held 79% stake in Valterra before the demerger. As part of its simplification plan, Anglo wants to focus on iron ore and copper, while getting rid of platinum, coal, nickel and diamond assets. Last month, Anglo suffered a setback after Peabody Energy Corp termination‘ its bid to acquire Anglo’s steelmaking coal assets in Australia. Valterra listed on the London Stock Exchange early in June this year, and it kept its primary listing on the Johannesburg Stock Exchange. Anglo expects settlement of the placing shares to occur on or about Tuesday next week. Late on Wednesday, Anglo said the placing would raise further cash for the group, strengthening 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,’ Anglo Chief Executive Officer Duncan Wanblad said then. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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