Valterra Platinum

The world's largest primary platinum producer, formerly known as Anglo American Platinum. It became fully independent when Anglo American demerged it in May 2025 and then sold its remaining 19.9% stake in September 2025 for R44.1bn. The company runs an integrated PGM business spanning mines, smelters and refineries.

Most of its mining and processing sits on South Africa's Bushveld Complex, where the heavy rains of early 2025 badly disrupted the Amandelbult complex; it also operates in Zimbabwe. It holds a secondary listing in London (VALT). In 2025 total PGM concentrate production fell 10% to 3.2Moz and refined output dropped 13% to 3.4Moz.