R2.6bn boost for platinum demand

Platinum demand received a R2.6-billion boost on Tuesday when South Africa’s State-owned Public Investment Corporation (PIC) joined forces with Anglo American Platinum (Amplats) to promote the development of innovative and competitive technological uses of platinum-group metals (PGMs). By each committing R1.3-billion to the first venture capital fund of its kind specialising in pioneering technologies and businesses that make use of PGMs, the PIC and Amplats have become cornerstone investors in the new, independent AP Ventures, which is led by a specialist global investment team that previously formed part of Amplats’ earlier investment in PGMs opportunities.