{"id":836806,"date":"2025-09-04T10:00:00","date_gmt":"2025-09-04T08:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=836806"},"modified":"2025-09-04T10:09:20","modified_gmt":"2025-09-04T08:09:20","slug":"international-giant-officially-exits-south-african-company","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/836806\/international-giant-officially-exits-south-african-company\/","title":{"rendered":"International giant officially exits South African company"},"content":{"rendered":"\n

Anglo American has sold off its remaining shares in Valterra Platinum, marking the end of its time with the South African miner. <\/p>\n\n\n\n

Anglo American Platinum was founded in 1995 following the unbundling of assets of Johannesburg Consolidated Investments (JCI) and its takeover by the Anglo American Group.<\/p>\n\n\n\n

However, last year, Anglo American announced that it would unbundle Anglo American Platinum, now Valterra, as part of a global restructuring to counter a takeover bid from rival BHP. <\/p>\n\n\n\n

Anglo American focused on getting ride of non-core assets that would free up cash and management time. The group decided to push out platinum, which has an uncertain future. <\/p>\n\n\n\n

Platinum is primarily used in catalytic converters in internal combustion engines to lower emissions. <\/p>\n\n\n\n

However, as the world transitions to electric vehicles, there are question marks over its long-term potential. <\/p>\n\n\n\n

Anglo American is not completely exiting South Africa and is keeping its majority share in Kumba Iron Ore. <\/p>\n\n\n\n

The demerger of Valterra Platinum took place on 31 May, with Anglo American selling its majority stake on the market. The move saw Valterra Platinum also list on the London Stock Exchange. <\/p>\n\n\n\n

As part of the deal, Anglo American would continue to hold about 19.9% of Valterra Platinum and keep the shareholding for at least 90 days following the demerger to ensure a safe separation.<\/p>\n\n\n\n

However, Anglo American has now sold the remaining 19.9%, 52.2 million shares, for cash proceeds of R44.1 billion. <\/p>\n\n\n\n

This marks the complete exit of Anglo American from Valterra Platinum, which is now a fully independent party. <\/p>\n\n\n\n

This is not the first time that Anglo American has spun off one of its entities, having previously sold its thermal coal resources into what is now known as Thungela resources. <\/p>\n\n\n\n

Not the only one<\/h2>\n\n\n
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The full exit from Anglo American comes shortly after the future of Richards Bay Minerals (RBM) became incredibly uncertain. <\/p>\n\n\n\n

RBM mines the sands north of KwaZulu-Natal and primarily produces zircon, rutile, iron and slag. It operates the largest titanium smelter in the southern hemisphere. <\/p>\n\n\n\n

However, the local operation faces an uncertain future after its parent company, Rio Tinto, announced a new operating model to streamline the organisation. <\/p>\n\n\n\n

Rio Tinto\u2019s Borates and Iron & Titanium businesses have moved to the Chief Commercial Officer\u2019s portfolio for strategic review. <\/p>\n\n\n\n

An update on the outcome of these reviews will still come in due course, but it seriously increases the possibility of a sale or closure for RMB.  <\/p>\n\n\n\n

In the energy space, Shell also plans to sell its downstream business in South Africa, which includes hundreds of petrol stations.<\/p>\n\n\n\n

Although Shell plans to sell its downstream business, it intends to keep its upstream business despite intense legal battles. <\/p>\n\n\n\n

Looking elsewhere, global media analytics firm Nielsen, packaging giant Tupperware, financial service provider The IG Group and banking giant HSBC are also exiting the South African market. <\/p>\n\n\n\n

The picture is not all doom and gloom; however, several international companies have also launched in South Africa. <\/p>\n\n\n\n

Club Med is launching a new resort in KwaZulu-Natal next year, while luxury hotel brand, OKU Hotels, has purchased the rundown\u00a0Ritz Hotel in Seapoint, Cape Town.<\/p>\n\n\n\n

Indian motor giant, Tata Motors, has also returned to South Africa and is selling a host of new passenger vehicles. <\/p>\n\n\n\n

Australian mining group, West Wits Mining, will also open South Africa\u2019s first new underground gold mine in 15 years. <\/p>\n","protected":false},"excerpt":{"rendered":"

Anglo American has officially sold its remaining stake in Valterra Platinum, which officially marks its exit from the sector.<\/p>\n","protected":false},"author":95,"featured_media":769401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[2318,19848,5368,23536,4356,23356,23537,2458,2239,15063,22733,21159],"class_list":["post-836806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-anglo-american","tag-bhp","tag-hsbc","tag-johannesburg-consolidated-investments","tag-nielsen","tag-oku-hotels","tag-richards-bay-minerals","tag-rio-tinto","tag-shell","tag-tata-motors","tag-the-ig-group","tag-tupperware"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836806","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=836806"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836806\/revisions"}],"predecessor-version":[{"id":836826,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836806\/revisions\/836826"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/769401"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836806"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836806"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836806"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}