Duncan Wanblad-led Anglo American Gets Nod To Spin Off Platinum Unit

Anglo American will spin off its platinum unit, renamed Valterra Platinum, on May 31, 2025, to sharpen its focus on copper, iron ore, and crop nutrients.

Valterra Platinum will debut with dual listings, primary on the Johannesburg Stock Exchange and secondary on the London Stock Exchange under the ticker VALT.

The restructuring aligns with CEO Duncan Wanblads strategy to exit non-core assets, including De Beers, and improve returns through a streamlined portfolio.

Anglo American Plc, the global mining giant led by South African executive Duncan Wanblad, has secured shareholder approval to spin off its platinum unit, Anglo American Platinum, as part of a sweeping restructuring under CEO Duncan Wanblad. The unit, to be renamed Valterra Platinum Limited, will begin operating as an independent company on May 31, 2025.

The decision was finalized at a general meeting on April 30 , and the demerged entity will maintain its primary listing on the Johannesburg Stock Exchange while also securing a secondary listing on the London Stock Exchange under the ticker VALT, with trading set to commence at 8:00 a.m. BST on June 2.

The move is central to Wanblads strategy to streamline Anglo Americans portfolio and sharpen its focus on higher-growth assets such as copper, premium iron ore, and crop nutrients. It also comes amid plans to divest from businesses including De Beers, steelmaking coal, nickel, and now platinum group metals.

Valterra Platinum will provide investors with direct exposure to one of the worlds largest PGM producers, operating independently with focused governance, the company said in a statement.

The demerger wont change Anglo Americans underlying stake in the platinum business but is seen as a significant milestone in realigning the miners operations amid shifting global demand for PGMs. The dual listing is designed to maintain liquidity and access for the company's UK investor base.