The PGM Development Fund (“the Fund”) is a private equity fund established to provide capital for further PGM market development and beneficiation particularly in Southern Africa. It is an Anglo American Platinum initiative managed by Douglas Investments. Bryanston Resources has been
appointed as a deal originator and adviser with the objective
of co-investing through the Fund.

 


 

  Latest news
Primus Power secures $20 million in first close of series
C funding
- 347kb pdf
Includes substantial investment by South Africa’s Anglo American Platinum Limited; Supports first product shipments for energy-storage technology pioneer...
more...
Government and the Private Sector to partner in the
manufacture and distribution of fuel cells in South Africa
- 20kb pdf
The Department of Science and Technology (DST) has partnered with Anglo American Platinum Limited and Altergy Systems (Altergy), an American fuel cell company..
more...
Platinum-miner teams up with investment
 company to fund PGMs innovations
(27/08/08)- 857kb
Platinum-miner Anglo American Platinum (Angloplat) has teamed up with investment company Douglas Investments to..
more...
Market Development and Beneficiation - 341kb
Welcome to the first edition of the Anglo American Platinum Limited PGM Market Update & Development Brief, a quarterly newsletter containing updates on the platinum group metals (PGM) market and the company’s initiatives to drive the value, sales and use of PGMs.
more...
 
Launch of The PGM Development Fund - 360kb
We are pleased to announce that launch of the PGM development fund will take place on Thursday 23 July 2009,
more...
Anglo American Platinum Limited kicks off beneficiation plan - 80kb
Anglo American Platinum Limited , the R135bn platinum producer, declared itself the first of the country's miners to support the recently‐drafted beneficiation strategy due for cabinet approval later in 2009.
more...

Overview of Anglo American Platinum Limited

Anglo American Platinum Limited (the “company”) is a member of the Anglo American plc group. Its shares are listed on the Johannesburg Securities Exchange Limited, with a secondary listing on the London Stock Exchange and a listing of international depositary receipts for the company’s shares on the Brussels Bourse.

The company’s mining, smelting and refining operations are situated in the Bushveld Complex in South Africa. The company produces platinum group metals (PGMs) in quantities determined by their occurrence in the ore mined. The PGMs are platinum, palladium, rhodium, ruthenium, iridium and osmium. Nickel, copper, gold and small quantities of other base metals are by-products of PGM operations.

The mining operations in the Bushveld Complex include the Bathopele, Dishaba, Khomanani, Khuseleka, Mogalakwena, Siphumelele, Thembelani and Tumela mines. In addition, the company has a number of joint ventures as follows:

  • Atlatsa Resources Corporation over the Bokoni Mine;
  • ARM Mining Consortium Limited over the Modikwa Mine;
  • The Royal Bafokeng Resources over the combined Bafokeng-Rasimone Platinum Mine (BRPM) and Styldrift properties;
  • The Bakgatla-Ba-Kgafela traditional community, which holds a 15% share in Union North and South Mines;
  • Eastern Platinum Limited (a subsidiary of Lonmin Plc) and its partners, the Bapo Ba Mogale traditional community and Mvelaphanda Resources Limited, over the Pandora Joint Venture;
  • Xstrata Kagiso Platinum Partnership to operate the Mototolo Mine; and
  • Pooling and sharing arrangements with Aquarius Platinum South Africa (Pty) Limited, covering the shallow reserves of the Kroondal and Marikana mines.

The company’s smelting and refining operations are wholly owned through Rustenburg Platinum Mines Limited and are situated in South Africa. These operations treat concentrates and matte from its wholly owned operations and its joint ventures and subsidiaries.

Elsewhere in the world the company operates the Unki Mine on the great Dyke in Zimbabwe and is actively exploring in Brazil with joint venture-exploration partners. The company also has exploration partners in Russia.

Anglo American Platinum Limited

Bryanston Resources

Bryanston Resources was founded in 2011 to offer advisory, investment, and supporting services in the natural resources space, including metals and mining, oil and gas, chemcials and agriculture. We see valuable synergies between our different business models, with the common backbone being our strong relationships, niche brand, intellectual property and world class professionals.

Bryanston has a rapid growth, high value-adding business with global reach. We generate significant returns for our clients, owners, employees, and their communities. We are proud of our entrepreneurial company culture and see it as a competitive advantage.

Bryanston’s value add to clients

  • Commodity expertise: Expertise in growing and creating value in commodities through strategey consulting, M&A advisory, financing, principal investment and management, project development, and product marketing.
  • Natural resource sector focused personnel: Experienced consultants with in-depth understanding of the entire commodity value chain from developing a portfolio of commodity assets, to managing an expansion project, to understanding commodity markets and unlocking value from non-transparent pricing mechanisms, to assisting in the sale of commodities and assets.
  • Global reach: We operate as an efficient, international network of specialists with regional offices. We see global exposure to the world’s “epicentres” of natural resources as a major source of competitive advantage - much of our work is done in emerging markets.
  • Skin in the game: We often share in the risk and upside of our clients’ projects and usually work on performance based contracts. We also implement what we recommend to clients through opportunities we identify in our investments business. We have made several investments to start and scale businesses and continue to look for such opportunities particularly in mining assets and resource efficiency technologies.
  • Extensive network: We have access to deep technical and financial expertise across all relevant disciplines - exploration, project development, operations, logistics, marketing and finance through our international network
  • Fostering synergies: Bryanston’s consulting and investment businesses are complementary to each other: our company “DNA” goes beyond a professional services offering to an “owner mentality”: we offer clients a true partnership.

Objective of the Fund

Anglo American Platinum Limited is the world's leading primary producer of platinum and accounts for about 40% of newly mined production globally. It also produces other platinum group metals (PGMs) including palladium, rhodium, ruthenium, iridium and osmium. Nickel, copper, other base metals and gold are by-products.

Approximately 54% of the world's platinum is used in auto catalysts, designed to reduce noxious emissions from vehicles. The remainder of the world’s platinum is used in industrial applications (approximately 26%), jewellery (approximately 16%) and Investment using Exchange Traded Funds (where the physical metal is held) (approximately 4%). It is therefore important for the long term sustainability of the industry to ensure that the industrial application of PGMs continues to grow, ensuring a market for the metals and a diversification of its uses into the future.

Anglo American Platinum Limited believes that it is important to invest in developing sustainable markets for PGMs, because applications for these unique metals are largely derived. Together with various partners, the Company invests in a portfolio of activities ranging from lab-scale research and product development to investments in the early-stage commercialisation of products capable of driving PGM demand in the longer term. As far as possible, these market development opportunities are located in or focused on South Africa, so as to facilitate beneficiation of the metals produced.

New technologies and uses for PGM group metals are often developed but not always commercialised. The PGM Development Fund (the “Fund”) is an investment vehicle of Anglo American Platinum Limited to increase the use and application of PGMs in the global environment by investing in entities that use PGM’s in their products or processes.

The Fund will provide early stage capital for entities that can demonstrate the commercial viability of their products or growth capital for further expansion of their business and consumption of PGMs. The Fund, through its founding investor, Anglo American Platinum Limited, could facilitate additional benefits in the form of reliability of PGM supply and long term pricing benefits.

The entrepreneur will be required to contribute leadership (to build and lead a motivated management team), operational skills (technical, manufacturing, marketing and distribution, etc.) and a well thought out business plan. Douglas Investments has been appointed by the Fund to manage the assessment of opportunities, deployment of capital and on-going management of the investments made.

 

 

Overview of Douglas Investments

Douglas Investments manages a “hybrid” equity fund called Conexus, which is an open ended investment vehicle with a focus on generating long term capital growth using both the quoted and unquoted (private equity) investment universe principally in South Africa. Douglas Investments manages the entire investment process for Conexus from stimulation of deal flow, assessment of opportunities (start up’s, early stage, etc.), assessment of entrepenuers, deployment of capital and on-going management of investments made.

Clive Douglas and Richard Willis are executive Directors and shareholders of Douglas Investments with over 30 years of combined experience in the investment industry. They believe in an investment strategy that is founded on long term equity investment hypotheses, in both quoted and unquoted investments, together with the benefit of international diversification. The basic objective is to extract returns commensurate with the fundamentals of active capital investment.

Douglas Investments provides structure, expertise, independence and professional investment management to the Fund by fulfilling the following roles:

  • Ensure objectivity based on commercial potential of the investments in line with general business principles.
  • Manage the funds as a portfolio allowing a broad initiative across the downstream PGM industry.
  • Separate the fund management and shareholder functions for the underlying investments from Anglo American Platinum Limited and its management within the defined scope and guidelines set, to minimize distraction and conflicts of interest and to introduce the focus of an aligned and dedicated professional private equity manager.
  • Foster professional advice in the fund structure, potentially allowing other appropriate and interested investors to participate alongside Anglo American Platinum Limited in the Fund.

Fund Brochure

Click here to download the Fund Brochure - 588kb pdf

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fund structure

The Fund is a “vesting trust” which facilitates the partnership of Anglo Anglo American Platinum Limited and its potential co-investors with entrepreneurs who have developed innovative ideas using PGM technologies.

Such investments are made by the Fund based on the investment advice and management of Douglas Investments, supervised by the Fund’s Advisory Board appointed by Investors. The investments are held by the Trust as shareholder and capital partner with the shareholder benefits and risks vested in the Fund investors (initially Anglo American Platinum Limited) through a process of unitisation.
 

Fund structure

Investment strategy

The investment objective of the Fund is to generate long term capital appreciation primarily through privately negotiated equity and equity related investments in portfolio companies that use PGMs in their products and processes.

The Fund intends to build a diversified portfolio of investments with the following parameters:

  • Early stage or growth capital in return for an equity participation;
  • Transaction size of between $5 mil and $15 mil
  • Significant minority equity participation of between 10% to 40%;
  • Targeting investment opportunities with a pre-money valuation of between $50 mil and $150 mil;
  • Products that have been validated in a commercial trial with a clear route to market; and
  • The entities may be incorporated in any geography

The Fund focuses on three pillars when assessing an investment opportunity as shown below:

  1. The Fund targets an IRR of >30% on all its investments
  2. The investment target needs to demonstrate the ability to consume PGMs in a meaningful way. The Fund will also provide the additional benefit of a long term strategic metal supply agreement where appropriate.
  3. The investment target needs to demonstrate their willingness to participate in the growth of the South African market by expanding their manufacturing and or assembly processes supported by a commercial plan overtime.

The Fund will exert significant influence over its investment portfolio generally by strategic engagement with management and supported by shareholder agreements and board representation. It expects to hold its portfolio of investments for between 5 and 10 years.

Investment portfolio

The investment portfolio consists of numerous global PGM consumption investments as follows:

Platinum consumption investments:
Platinum is consumed in the membrane electrode assembly which is core to the production of their fuel cells:

Altergy Systems
Altergy Systems® is a global leader in the design, manufacture, sales, marketing and deployment of fuel cell power systems. Altergy's Freedom Power™ products are rugged, fully integrated, modular, scalable and highly-efficient fuel cell systems that generate power at the point-of-use making low cost, distributed power generation a reality and provide the solution to the serious global shortage of premium power and the growing demand for low cost, high quality power. Altergy’s unique design allows fuel cells to be manufactured in high volume at low cost, making widespread use feasible. These Freedom Power products provide freedom from the grid, freedom from foreign oil, freedom from traditional energy solutions, freedom from batteries and freedom from pollution and are “Changing the Way the World Gets Its Power. ” For more information about Altergy Systems, visit www.altergy.com

Clean Energy Investments (Pty) Limited
Clean Energy is a newly incorporated company in South Africa with Anglo American Platinum Limited (through its beneficial holding in the PGM Development Fund), the Department of Science and Technology and Altergy Systems as its Founding Strategic shareholders. All three Founding Shareholders have the common goal of developing the fuel cell industry in South Africa and have partnered to make this a reality. Clean Energy will look to develop the fuel cell market in South Africa with its international technology partner, Altergy, by initially focussing on backup power for telecommunications. Altergy have suitable products that can be deployed immediately into the local market and also have a pipeline of suitable products that can be deployed into data centres, hospitals, rural areas, etc. Clean Energy will look to develop the market by partnering with suitable operational and investment partners with a similar philosophy. Clean Energy will look to ultimately assemble and manufacture fuel cells in South Africa in support of local beneficiation.

Government and the Private Sector to partner in the manufacture and distribution of fuel cells in South Africa - 20kb pdf

Ballard Power Systems
Ballard Power Systems, Inc. is a global leader in PEM (proton exchange membrane) fuel cell technology. We provide clean energy fuel cell products enabling optimized power systems for a range of applications. Ballard offers smarter solutions for a clean energy future. For more information on Ballard Power Systems, please visit their website: www.ballard.com

Please click here to download the official press release.

Iridium and ruthenium consumption investments
A mixed metal oxide (“MMO”) is coated onto the electrodes to reduce degradation and deliver longevity. The MMO consists of iridium, ruthenium and platinum.

Primus Power
Primus Power is a leader in cost effective, utility-grade energy storage solutions with a safe, scalable, distributed system that economically serves multiple storage applications. With patented innovations in chemistry, cell design and system engineering, the Company’s EnergyPods™ offer exceptional power density and portability. Primus is the only energy storage company to receive government grants from the US Department of Energy (DOE), the Advanced Research Projects Agency – Energy (ARPA-E), and the California Energy Commission (CEC). Its technology stands to revolutionize the economics, stability, and security of the electric grid, while accelerating the incorporation of renewable wind and solar energy.

The Fund entered into a Security Purchase Agreement on 24 December 2013 whereby it has subscribed for series C preference shares dependent on the achievement of certain commercial milestones. The investment closed in August 2014 once the milestones were achieved. The Eskom grid is under enormous pressure to provide electricity to business and households in South Africa. It is estimated that in excess of 3,000 MW of energy storage is required to meet the short- to medium-term requirements of Eskom. Battery storage will play a role in solving this problem and the Primus EnergyPod™ is well suited for this application. The Fund will be working with local representatives to see if a market can be established for the EnergyPod™ as well as migrate contract manufacturing to South Africa as part of its beneficiation objectives.

Primus is headquartered in Hayward, California. For further information, please visit www.primuspower.com

Primus Power secures $20 million in first close of series C funding - 347kb pdf

Palladium consumption investments
It’sFresh is a palladium based technology that absorbs ethylene that slows the ripening of fresh produce.

Food Freshness Technology Holdings (“FFTH”)
FFTH is a high tech innovations company focused on delivering comprehensive solutions for food freshness. These unique patented technologies are delivered by leading edge materials science developed in partnership with some of the world’s renowned research and technology organisations. To-date FFTH has raised in excess of $15m to bring to market a range of simple products that reduce waste, protect and increase food quality.  The benefits delivered by FFTH products are focused on extended freshness, improved consumption quality, increased sales and reduction in waste in the food sector, which are at the forefront of the industry’s needs, to keep it both competitive and profitable.  These innovations directly help to address the problem at the heart of food security facing the world in the medium-term future.

One of the technologies is It’sFresh!, an established and unrivalled ethylene-removal technology for the fresh produce industry. A discreet but high-tech sheet that helps the global supply chain maximise value from growing, transporting and retailing top-quality fruit.  It’sFresh! provides safe, ethical and easy-to-use applications requiring zero capital investment. It is currently helping leading retail groups worldwide to extend freshness, reduce waste and increase availability, consumption and sales. By extending quality, and enhancing flavour in a secure and sustainable way, It’sFresh! directly addresses the key industry challenges of food security and profitability – plus the global issue of food waste.  For more information on FFTH, please visit their website: www.foodfreshnesstechnology.com

 

Frequently asked questions

Duis autem velpariatur at vero eos et acdolend. Lorem ipsum dolor sit amet, consecteto iniciduntut labore et dolore et magnaa nostrud exercitation ullamcorpersuscip aliquam erat voluptat.Ectamen nedue enim haec movere ut en consequat. Duis autem velpariatur at vero eos et acdolend.Ut enim ad minim vel eum irure reprehendrit iustro odio dignissum ducim qusent in culpa quiofficia dese natura expeting.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contact Details


Clive Douglas Investments (Pty) Ltd  
   
Physical Address: Postal Address:
Block 8 P O Box 67306
Bryanston Gate Bryanston
Cnr Curzon & Main Rd 2021
Bryanston  
2191  
   
Tel: +27 11 463 9102
Fax: +27 11 706 0725
e-mail : Response form to contact us via e-mail
Contact person: Richard Willis
   
FSP No : 26359
Reg No : 2006/015070/07


 

Bryanston Resources  
   
Physical Address:  
54a 7th Avenue  
Parktown North  
2193  
Johannesburg  
   
Tel: +27 73 312 2039        
Contact Person : Lorenzo Tencati
Email : lorenzo.tencati@bryanston.ch
   


 

Anglo American Platinum Limited  
   
Physical Address: Postal Address:
55 Marshall Street P O Box 62179
Johannesburg Marshalltown
2001 2107
   
Tel: +27 11 373 6137        
Fax: +27 11 373 5111
Contact Person : Kleantha Pillay

Contact Details


Clive Douglas Investments (Pty) Ltd  
   
Physical Address: Postal Address:
Block 8 P O Box 67306
Bryanston Gate Bryanston
Cnr Curzon & Main Rd 2021
Bryanston  
2191  
   
Tel: +27 11 463 9102
Fax: +27 11 706 0725
e-mail : Response form to contact us via e-mail
   
FSP No : 26359
Reg No : 2006/015070/07

Anglo American Platinum Limited  
   
Physical Address: Postal Address:
55 Marshall Street P O Box 62179
Johannesburg Marshalltown
2001 2107
   
Tel: +27 11 373 6137
Fax: +27 11 373 5111
Contact People : Kleantha Pillay
   

 

 

 

 

 

 

 

 

 

 

 

 

Disclaimer


Disclaimer & Forward Looking Statements
This website is controlled and operated from the offices of Douglas Investments (Pty) Limited (herein after referred to as Douglas Investments) in Johannesburg, South Africa. Douglas Investments makes no representation that the information contained in this website is appropriate for use in other locations. Nothing contained in this website constitutes an invitation or offer to any person to acquire or dispose of or otherwise deal in any investment or should be construed as advice or encouragement to any person to do any of the foregoing. Visitors to this website are advised to seek independent financial advice prior to making any investment decisions. While Douglas Investments takes reasonable care to ensure the accuracy of the information on this site, it shall not be held responsible for any losses or liabilities arising from the use of this information. This website contains links to other websites that are not controlled or maintained by Douglas Investments. Douglas Investments is not responsible for the content of those other websites, and the inclusion of a link to another website does not imply any endorsement or verification by Douglas Investments of the information contained at that website.

Disclaimer
The information contained in press releases, annual or interim reports, analyst presentations, and financial information should not be deemed accurate or current except as of the date of issue. Douglas Investments does not, does not intend to, and specifically disclaims any duty to, update or correct such information.

Neither an audit nor a review provides assurance on the maintenance and integrity of the website, including controls used to achieve this, and in particular whether any changes may have occurred to the financial information since first published. These matters are the responsibility of the directors but no control procedures can provide absolute assurance in this area.

Forward Looking Statements
Certain statements and information contained in this website are forward-looking statements based on The Fund’s future plans, objectives and goals. Although Douglas Investments believes that the expectations reflected in the forward-looking statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Actual results could differ materially depending on risks generally inherent in the ownership and operations of mining properties and the production and sale of associated products.

The Promotion of Access to Information Act information (PAIA) is not a requirement.

What’s your big idea?


What’s your big idea? - 1.49 mb pdf  
Entry Requirements - 213 kb pdf  
Innovation Advert - 337 kb pdf