South Africa’s PIC increases stake in Sibanye-Stillwater

Group 1: PIC's Investment in Sibanye-Stillwater - Public Investment Corporation (PIC) has increased its stake in Sibanye-Stillwater to 20.42%, becoming the largest shareholder of the mining company [1] - PIC's acquisition included an additional 2.35% in equity, reflecting its commitment to the South African resource sector [1] - As of September 2025, PIC manages over R3 trillion ($155.6 million) in assets [1] Group 2: Investment Strategy and Focus - PIC announced plans to invest R1.35 billion in early-stage mining companies, with at least 50% of these investments directed towards South Africa [2] - The focus of these investments will be on energy transition minerals such as copper and lithium [2] Group 3: Sibanye-Stillwater's Operations - Sibanye-Stillwater specializes in the production of platinum, palladium, rhodium, and gold, and is also involved in refining chrome, cobalt, copper, iridium, nickel, and ruthenium [3] - The company engages in global metal recycling and has interests in operations that focus on the retreatment of mine tailings [3] Group 4: Recent Acquisitions and Leadership Changes - In July, Sibanye-Stillwater signed an agreement to acquire Metallix Refining for R1.45 billion, enhancing its global recycling presence and processing capabilities [4] - Richard Stewart has taken over as CEO of Sibanye-Stillwater, succeeding Neal Froneman, who retired after a 12-year tenure [5]