PGM Development Fund - Overview
The PGM Development Fund (the “Fund”) is an initiative of Anglo Platinum to increase the use and application of PGMs (platinum group metals) in the global environment by investing in entities that either support PGM product development or use PGM technology in their products or processes.
The Fund provides capital for further PGM market development and beneficiation by focusing on partnering innovators / entrepreneurs in PGM technologies at various stages of development.
Platinum group metals include palladium, rhodium, ruthenium, iridium and osmium. Nickel, copper, other base metals and gold are by-products of the mining process.
The Fund will contribute capital and in some cases access to proven technologies in return for an equity participation in a venture based in South Africa. The entrepreneur will be required to contribute leadership (to build and lead a motivated management team), operational skills (technical, manufacturing, marketing and distribution, etc.), a well thought out business plan. Douglas Investments has been appointed by the Fund to manage the assessment of opportunities, structuring of the investment, deployment of capital and on-going management of the investments made.
The Fund seeks to generate market-related risk-adjusted returns as well as value beyond financial returns in the long-term local development of PGM technologies.
The Fund was officially launched on 23 July 2009 at a function hosted by Anglo Platinum, the Department of Science and Technology and the Department of Mineral Resources. Negotiations are currently underway for the Fund’s first investments, and information on these investments, as well as more information on the Fund can be found on the Fund’s website.
