Mining

South Africa: Anglo American Raises $400 Million Through Share Placing

South Africa: Anglo American Raises $400 Million Through Share Placing
Friday, 13 September 2024 18:15

Anglo American owns a 79% stake in South African company Amplats, the world's leading producer of platinum group metals. In May 2024, the British company announced plans to spin off Amplats into an independent entity.

This week, Anglo American offered 13.94 million ordinary shares in Amplats, raising 7.2 billion rand (around $400 million). This sale is part of the process to separate Amplats into its own company. 

According to Duncan Wanblad, CEO of Anglo America, the placing“is expected to increase share trading liquidity in the near term as well as mitigate the impact of flowback following the demerger as a result of fewer Anglo American Platinum shares being distributed to Anglo American’s shareholders.”

As part of a restructuring plan announced in May 2024, Anglo American is disposing of its 79% interest in Amplats. The demerger of the world's leading platinum producer is expected to be completed next year. However, JP Morgan warns that this could lead to capital flight from South Africa, as Amplats shares distributed to Anglo American shareholders may not be actively traded on the Johannesburg Stock Exchange.

Amplats is the top producer of platinum group metals, with its mines in South Africa and Zimbabwe producing 3.8 million ounces in 2023.

Emiliano Tossou

On the same topic
Sonatrach–NNPC agreement targets joint R&D and technology exchange Partnership prioritizes AI, upstream optimization and decarbonisation Initiative...
Gabon targets oil contracts with BP and Exxon within six months Talks focus on deep and ultra-deep offshore blocks Reforms aim to attract investment...
Avanti Gold started its 2026 exploration campaign at the Misisi gold project in DR Congo. The program includes 42,000 meters of drilling...
Ghana Gold Board advances a traceability system covering gold from extraction to export. Authorities target 100 tonnes of ASM gold exports...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
04

Mobile phones have become essential tools for work, education, payments and staying connected across...

EU Mandates Removable Phone Batteries. What It Means for Africa’s Device Market 
05

MTN Ghana launches crackdown on mobile money agent fraud Audits trigger warnings, suspensions...

MTN Ghana tightens controls on mobile money agents over fraud concerns
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.