Amplats, PIC invest R2.6bn in platinum venture funds

South Africa’s Anglo American Platinum has invested $200 million (R2.6 billion) 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.