PIC to increase shareholding in Sibanye-Stillwater

The Public Investment Corporation wants to increase its shareholding from 10 to 15 percent.

The Public Investment Corporation (PIC), which managed the pensions of government employees, wants to increase its shareholding in Sibanye-Stillwater from 10 percent to 15 percent. 

The PIC has been increasing its stake in the diversified mining group from 8.8 percent since 2017. 

The corporation, which invests on behalf of government employees' pension funds, has interests in a wide range of listed and non-listed entities and manages assets over R2 trillion. 

Sibanye told shareholders that it had received a formal notification from PIC for the offer. 

Some other investors in Sibanye include Investec Asset Management, the Vanguard Group and  BlackRock, according to information provided by the company. Sibanye-Stillwater has positioned itself as a leading PGM producer in the world through a series of acquisitions over the past few years, including the take over of Lonmin and US firm Stillwater in 2017.