Last checked at 17 Jul 2018 08:00
17 July 2018 |
Anglo American Platinum commits to venture capital funds focused on increasing demand for PGMs |
|
Anglo American plc's 78% owned subsidiary, Anglo American Platinum Limited ("Anglo American Platinum"), announced today that its subsidiary, Anglo Platinum Marketing Limited ("APML"), has subscribed for interests in two UK based venture capital funds (the "Funds"), with a total aggregate commitment of $100 million. Anglo American Platinum's commitment to the Funds is matched by a $100 million commitment from South Africa's Government Employees Pension Fund represented by the Public Investment Corporation SOC Ltd (the "PIC").
The Funds will be managed through an independent fund management business, AP Ventures LLP, led by two experienced former APML executives. The Funds have been established to invest globally in companies which support the development of innovative and competitive technological uses of platinum group metals ("PGMs").
The first Fund will hold certain of APML's existing investments which have been made under APML's PGM investment programme. The second Fund will be established to make new investments.
Anglo American Platinum issued an announcement this morning to the Johannesburg Stock Exchange which is available on the Anglo American Platinum website via link.
This transaction is a smaller related party transaction under UK Listing Authority ("UKLA") Listing Rule 11, as the PIC is a substantial shareholder in Anglo American plc. The transaction is therefore subject to the requirements of UKLA Listing Rule 11.1.10R.
For further information, please contact:
Media |
| Investors |
UK James Wyatt-Tilby james.wyatt-tilby@angloamerican.com Tel: +44 (0)20 7968 8759
Marcelo Esquivel marcelo.esquivel@angloamerican.com Tel: +44 (0)20 7968 8891
South Africa Pranill Ramchander pranill.ramchander@angloamerican.com Tel: +27 (0)11 638 2592
Ann Farndell ann.farndell@angloamerican.com Tel: +27 (0)11 638 2786 |
| UK Paul Galloway paul.galloway@angloamerican.com Tel: +44 (0)20 7968 8718
Robert Greenberg robert.greenberg@angloamerican.com Tel: +44 (0)20 7968 2124
Sheena Jethwa sheena.jethwa@angloamerican.com Tel: +44 (0)20 7968 8680 |
|
|
|
|
|
|
Notes to editors:
Anglo American is a global diversified mining business and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals to meet the growing consumer-driven demands of the world's developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world.
As a responsible miner - of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel - we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate and for society at large. Anglo American is re-imagining mining to improve people's lives.
www.angloamerican.com
Legal Entity Identifier: 549300S9XF92D1X8ME43