Investec bumps Sibanye shareholding above 5%

The entrance to the Sibanye-Stillwater mine. (Iavan Pijoos/News24)
The entrance to the Sibanye-Stillwater mine. (Iavan Pijoos/News24)

Banking and asset management group Investec has acquired a further interest in the ordinary shares of Sibanye-Stillwater, taking its overall shareholding to 5.0393% of the miner's issued shares.

On Monday, Sibanye-Stillwater [JSE:SGL] issued a statement saying it had received formal notification from Investec that it had required an additional interest in the ordinary shares on behalf of its clients.

Sibanye-Stillwater is the third-largest producer of platinum and palladium and counts among the world's top gold producers. It is SA's largest gold producer.

It had a tough time in 2018, however, with its core profit plunging 40% and production falling 24% according to its operating update released on November 1.

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