Anglo Platinum pays R16 billion to shareholders ahead of demerger from Anglo American
The demerger from Anglo American is scheduled to be completed in June 2025.
Anglo American sign on building, 123rf.com
Stephen Grootes talks to Craig Miller, CEO at Amplats about the company's June timeline for demerger and its plans to retain a 19.9% shareholding in the platinum business.
Listen to the interview in the audio player below.
Anglo American Platinum on Monday announced it's giving R16,5 billion to shareholders, ahead of it leaving the Anglo American group in June 2025.
Anglo American will get a big chunk of that because if the shares in Amplats it still owns.
Despite that, the company also announcing a 40% decrease in headline earnings, impacted by the lower platinum price and a stronger rand.
Speaking to Stephen Grootes on The Money Show, Craig Miller, CEO of Amplats says Anglo American will retain about 19,9% share in the business following the demerger.
"They'll retain about 19,9% in Anglo Platinum going forward, and that's really in terms of them continuing to retain a stake in us and really managing the impact of the demerger."
- Craig Miller, CEO - Amplats
"Anglo American, in time I imagine would look to exit that shareholding. But at the point of demerger they'll retain that 19,9% share.
- Craig Miller, CEO - Amplats
"When we look at the performance of our business and the work that we did in 2024 to really reset our cost base and our capital base, we confident that where prices are today, we'll be cash flow generative and be able to continue to execute our strategy."
- Craig Miller, CEO - Amplats
Scroll to the top of the article to listen to the full interview.