‘What the f**k is Valterra Platinum?’
A PGM rose by any other name can actually smell a little sweeter
Demergers should achieve three things: improve transparency, sharpen focus and satisfy not only existing shareholders but future ones. So said the Financial Times in reference to Liberty International’s demerger in 2010.
Mining giant Anglo American, for which the demerger is a favoured stratagem, achieved all this with Mondi in 2007 and more recently with Thungela Resources, its South African coal assets. Valterra Platinum, the new name for Anglo American Platinum (Amplats), in which Anglo has a 67% stake, is the latest — though it may not be the last. An IPO of De Beers is in the works as Anglo pursues its dual-track sale/spin-off strategy for the diamond miner and marketer...
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