- Almost 14 million ordinary shares of Anglo American Platinum, representing approximately 5.3% of its total issued ordinary shares, at a price of R515.00 per share.
Tue Sep 10 16:44:28 -0000 2024 UTC– After Anglo American announced a accelerated bookbuild offering of shares in Anglo American Platinum on September 10, 2024 it sold almost 14 million ordinary shares of Anglo American Platinum, representing approximately 5.3% of its total issued ordinary shares, at a price of R515.00 per share.
USD400 million
The Placing raised gross proceeds of R7.2 billion (approximately USD400 million). After the quick action, settlement is scheduled for around 16 September 2024 on the Johannesburg Stock Exchange.
Focus on Core Assets
Proceeds from the Placing will be used to reduce Anglo American’s net debt as it continues to focus on its core assets, including copper, premium iron ore, and crop nutrients. The company aims to position Anglo American Platinum for long-term success in markets that are pivotal for emissions reduction and clean energy.
Platinum Group Metals
Anglo American Platinum, the world’s leading primary producer of platinum group metals (PGMs), primarily mines platinum in South Africa. The company’s key operations are located in the mineral-rich Bushveld Complex, which is one of the largest sources of PGMs globally. Here are some of the major mining operations of Anglo American Platinum in South Africa:
- Mogalakwena Mine: Located in Limpopo Province, this is the world’s largest open-pit platinum mine and a flagship operation for Anglo American Platinum.
- Amandelbult Complex: Situated in Limpopo Province, this operation includes underground mines and a surface concentrator.
- Rustenburg Operations: Located in North West Province, these operations consist of underground mines and surface concentrators.
- Unki Mine: Although outside South Africa, this mine in Zimbabwe is also a significant operation for Anglo American Platinum, contributing to the company’s overall platinum production.
These mines are crucial for the extraction of platinum, as well as other valuable metals like palladium, rhodium, and nickel, which are found in the same deposits.
Extraction
Anglo American is not directly selling any mines in this announcement. Instead, the company is selling shares of its subsidiary, Anglo American Platinum Limited, through an accelerated bookbuild offering. This is part of their strategy to gradually reduce their stake in Anglo American Platinum ahead of a planned demerger. The sale involves approximately 13 million ordinary shares, which represent about 5% of Anglo American Platinum’s total issued shares.
Anglo American plc is a global mining company headquartered in London, 🇬🇧 United Kingdom. It is one of the world’s largest producers of diamonds, copper, platinum group metals, iron ore, and more. The company operates across various regions, including Southern Africa, South America, North America, and Australia.