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Security officers walk past the Johannesburg Stock Exchange (JSE) in Sandton
Valterra Platinum, formerly known as Anglo-American Platinum, has made its debut on the Johannesburg Stock Exchange this morning.
The company will officially demerge from parent company Anglo American on May 31.
This means that Valterra will become a standalone company.
Valterra CEO Craig Miller says the change will allow the company to continue to invest in the Platinum Group Metals.
“We’re clearly going through a name change. We’re going through a brand change and an identity. But also, thinking back to our purpose, which is to unearth value to better our world. And therefore use this opportunity, the opportunity for us to continue to invest in the world-class assets that we have within the PGM sector,” says Miller.
Anglo American unbundled its platinum business to free up capital and management time to focus on its copper and iron ore operations.
Meanwhile, Valterra says it aims to focus on its operational excellence as it believes that PGM prices could be higher than where they are currently, given the deficits seen within the market and a positive outlook for PGMs, given the changes in the nature of the energy transition.
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