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JOHANNESBURG – South Africa’s Anglo American Platinum has invested $100 million in two venture capital funds focused on increasing demand for platinum group metals, it said on Tuesday.
The investment in the two UK-based funds, managed by AP Ventures, will be matched by a similar commitment from the South African state pension fund, the Public Investment Corporation.
“Developing the market for PGMs is a strategic priority for Anglo American Platinum and this investment with AP Ventures is a key initiative,” Anglo American Platinum said in a statement. – Reuters Africa
Bongani Ndlovu