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.

ZAR/USD
16.77
(-3.00)
ZAR/GBP
21.49
(-2.07)
ZAR/EUR
19.74
(-2.36)
ZAR/AUD
12.12
(-2.04)
ZAR/JPY
0.16
(-2.85)
Gold
1911.76
(-1.84)
Silver
24.70
(-7.46)
Platinum
885.00
(-4.77)
Brent Crude
43.55
(0.00)
Palladium
2271.00
(-2.77)
All Share
53319.08
(-2.48)
Top 40
49153.11
(-2.47)
Financial 15
9519.48
(-3.27)
Industrial 25
71014.52
(-2.13)
Resource 10
53931.91
(-2.72)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 1320 votes
It depends on how the funds are used.
73% - 8676 votes
No. We should have gotten the loan elsewhere.
16% - 1914 votes
Vote