Diversified miner Anglo American has raised cash proceeds of R44.1-billion, or about $2.5-billion, from the sale of its remaining shares in South African platinum group metals (PGMs) producer Valterra Platinum.
Anglo on September 3 launched an accelerated bookbuild processing, offering to sell 52.2-million shares in Valterra – previously known as Anglo American Platinum (Amplats) – at a price of R845 a share.
Following the demerger of Amplats from the Anglo group in May, Anglo retained a 19.9% shareholding in the PGMs producer, which in May started trading under its new name and listed on the JSE and the LSE.
The performance of the Valterra share price since the demerger prompted Anglo to sell its remaining interest in the PGMs producer.
"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,” Anglo CEO Duncan Wanblad commented in a September 3 media release.
He pointed out that the sale of its last remaining shares in Valterra marked further progress in the group’s responsible separation process and was a further step in its portfolio simplification drive to focus on its copper, premium iron-ore and crop nutrients. 
