Anglo American PLC Anglo American Platinum commits to venture capital (8064U)

TIDMAAL

RNS Number : 8064U

Anglo American PLC

17 July 2018

 
17 July 2018 
Anglo American Platinum commits to venture capital funds 
 focused on increasing demand for PGMs 
 
 

Anglo American plc's 78% owned subsidiary, Anglo American Platinum Limited ("Anglo American Platinum"), announced today that its subsidiary, Anglo Platinum Marketing Limited ("APML"), has subscribed for interests in two UK based venture capital funds (the "Funds"), with a total aggregate commitment of $100 million. Anglo American Platinum's commitment to the Funds is matched by a $100 million commitment from South Africa's Government Employees Pension Fund represented by the Public Investment Corporation SOC Ltd (the "PIC").

The Funds will be managed through an independent fund management business, AP Ventures LLP, led by two experienced former APML executives. The Funds have been established to invest globally in companies which support the development of innovative and competitive technological uses of platinum group metals ("PGMs").

The first Fund will hold certain of APML's existing investments which have been made under APML's PGM investment programme. The second Fund will be established to make new investments.

Anglo American Platinum issued an announcement this morning to the Johannesburg Stock Exchange which is available on the Anglo American Platinum website via link.

This transaction is a smaller related party transaction under UK Listing Authority ("UKLA") Listing Rule 11, as the PIC is a substantial shareholder in Anglo American plc. The transaction is therefore subject to the requirements of UKLA Listing Rule 11.1.10R.

For further information, please contact:

 
 Media                                     Investors 
 UK                                        UK 
  James Wyatt-Tilby                         Paul Galloway 
  [e-mail]       [e-mail] 
  Tel: [phone]                  Tel: [phone] 
  Marcelo Esquivel                          Robert Greenberg 
  [e-mail]        [e-mail] 
  Tel: [phone]                  Tel: [phone] 
  South Africa                              Sheena Jethwa 
  Pranill Ramchander                        [e-mail] 
  [e-mail]      Tel: [phone] 
  Tel: [phone] 
  Ann Farndell 
  [e-mail] 
  Tel: [phone] 
 
 
 

Notes to editors:

Anglo American is a global diversified mining business and our products are the essential ingredients in almost every aspect of modern life. Our portfolio of world-class competitive mining operations and undeveloped resources provides the metals and minerals to meet the growing consumer-driven demands of the world's developed and maturing economies. With our people at the heart of our business, we use innovative practices and the latest technologies to discover new resources and mine, process, move and market our products to our customers around the world.

As a responsible miner - of diamonds (through De Beers), copper, platinum and other precious metals, iron ore, coal and nickel - we are the custodians of what are precious natural resources. We work together with our key partners and stakeholders to unlock the sustainable value that those resources represent for our shareholders, the communities and countries in which we operate and for society at large. Anglo American is re-imagining mining to improve people's lives.

www.angloamerican.com

Legal Entity Identifier: 549300S9XF92D1X8ME43

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July 17, 2018 03:00 ET (07:00 GMT)