Anglo American announced the successful sale of its remaining 19.9% stake in Valterra Platinum, generating approximately $2.5bn from the transaction.
The sale involved around 52.2 million ordinary shares priced at ZAR845 ($47.54) each. This marked the complete divestment of Anglo American’s holding in the former subsidiary following its demerger in May 2025.
The accelerated bookbuild offering, initiated on 3 September 2025, involved entities controlled by Anglo American acting as the selling entities. The proceeds from the sale reinforced Anglo American’s financial position.
Valterra Platinum itself is not involved in the placing and will not receive any portion of the proceeds.
Share settlement is anticipated to occur around 9 September 2025 on a T+3 basis via the Johannesburg Stock Exchange. The move aligns with Anglo American’s strategy to maximise value from its portfolio and achieve strategic objectives efficiently.
Valterra Platinum, formerly known as Anglo American Platinum, remains a significant player in the global platinum group metals (PGMs) industry. By the end of 2024, it accounted for a substantial share of global production in platinum, palladium, and rhodium.
Its operations include locations rich in PGMs within South Africa’s Bushveld complex and Zimbabwe’s Great Dyke region.
The placing was restricted to qualifying institutional investors under standard selling conditions and did not form a public offer in any jurisdiction.
Merrill Lynch International and Standard Bank of South Africa managed the process as joint global coordinators, with RBC Europe as lead bookrunner and Goldman Sachs International and Morgan Stanley & Co. International participating as joint bookrunners.
Anglo American CEO Duncan Wanblad said: “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.
“This placing marks further progress in our responsible separation process and a further step in our portfolio simplification to focus on our world-class positions in copper, premium iron ore and crop nutrients.”
