Anglo American shareholders to vote on PGM demerger of SA PGM unit

SHAREHOLDERS in Anglo American will vote for the demerger of its South African platinum group metals (PGM) producing unit next week, with the company also expecting to report 2025 half year financials for its steelmaking coal and nickel segments as discontinued operations.

- TAWANDA KAROMBO

Anglo American has been restructuring its operations through the demerger of some operating units such as those producing diamonds, PGM, nickel and steelmaking coal. It intends to focus more on copper and crop nutrients.

The London and JSE-listed resource group said Thursday that shareholders will now vote on the demerger of Anglo American Platinum (Amplats) on April 30. Details of the transaction have not yet been disclosed.

However, Anglo American expects the demerger of Amplats to result in taxes and transaction costs of $400 000 to $500 million this year, excluding charges incurred by Amplats.

"The demerger of the PGM business segment, which is subject to shareholder approval, is also expected to be reported as a discontinued operation, if approved by shareholders on 30 April 2025," Anglo American said.

Furthermore, Anglo American expects financials for its steelmaking coal and nickel business segments to be reported as discontinued operations for the 2025 half year results.