Amplats and the PIC make massive platinum investment


The two entities have invested R2.6 billion into platinum venture funds.

Anglo American Platinum (Amplats), the world’s number one producer of platinum group metals, has spun off an internal fund and invested $200 million in a new venture capital fund with the aim of stimulating industrial demand for platinum group metals (PGMs).

The new company, AP Ventures LLP, takes over from Amplats’ internal Anglo Platinum Marketing Ltd. South African state pension fund, the Public Investment Corporation (PIC), is a partner with a matching $100 million investment in the company. 

Chris Griffith, Amplats Chief Executive, has said that for industrial uses, the company has had an internal fund which, over a number of years, has invested in eight different projects to the value of $60 million. “But we were getting to a stage where we couldn’t grow that much ourselves,” he said.

Griffith added that they “also see the potential for new partners” to join AP Ventures LLP, which will put its initial investment into two UK-based venture capital funds.

Related articles

Three CFOs’ guide to managing boardroom expectations

Productivity SA CFO Okuhle Sidumane, Sappi Southern Africa CFO Pramy Moodley and BMI Coverland FD Tammy Narain explain how effective expectation management helps them ensure every engagement with their board is a success.