Valterra Platinum Debuts After Anglo Restructuring

Valterra Platinum, formerly Anglo American Platinum, debuted as an independent company on the Johannesburg Stock Exchange, with a secondary listing planned for the London Stock Exchange. The spin-off follows Anglo American's defense against a $49 billion takeover bid from BHP and is part of a broader restructuring as Anglo shifts focus to copper, iron ore, and crop nutrients. Anglo American retains a 19.9% stake in Valterra for at least 90 days to support investor confidence during the transition. Valterra now stands as the world's largest platinum miner by value and faces market challenges from recent production halts due to flooding and significant net debt from demerger costs. Despite these issues, platinum prices have rebounded, buoyed by concerns over supply and steady demand. Investors are also monitoring the potential sale or public listing of Anglo's De Beers diamond unit as part of ongoing divestitures.