Amplats says on track to demerge in 2025, plans secondary London listing

A woman walks past Anglo American Platinum's
Unki mine in Shurugwi

JOHANNESBURG (Reuters) -South Africa's Anglo American Platinum (Amplats) expects its demerger from parent company Anglo American to be completed next year and is planning a secondary listing in London, its CEO said on Monday.

Amplats, which reported first half results, also said it had cut some 3,700 jobs to reduce spending ahead of the demerger.

Meeting cost targets and the unbundling plan are crucial for efforts by Anglo American CEO Duncan Wanblad to restructure the wider group - after fending off a $49 billion takeover bid from rival mining giant BHP Group.

Amplats CEO Craig Miller said the standalone business would have brighter prospects.

By Reuters.

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