Sibanye-BlackRock stake increase: portfolio and price-cycle notes for mine planners
Reviewed by Joe Ashwell

First reported on MINING.com
30 Second Briefing
BlackRock has lifted its stake in Sibanye-Stillwater to 5.001%, up from 3.57%, pushing the South African precious metals producer’s shares up 3.6% to a record $20.84 in New York and valuing the company at about $14.2 billion. The move comes as gold breaks through $5,300/oz, silver exceeds $117/oz and platinum hits a record high, materially improving revenue potential for Sibanye’s global PGM and gold portfolio. South Africa’s Public Investment Corp. remains the largest shareholder with more than 20%.
Technical Brief
- Previous BlackRock ownership at 3.57% already placed it among Sibanye-Stillwater’s largest institutional investors.
- Sibanye-Stillwater is listed on both the JSE (SSW) and NYSE (SBSW), broadening capital access.
- Public Investment Corp. lifted its stake in October 2025 to above 20%, consolidating anchor-shareholder influence.
- Sibanye operates platinum group metal and gold mines across five continents, diversifying jurisdictional and commodity risk.
Our Take
Sibanye-Stillwater’s higher valuation on the back of gold and platinum exposure comes as it is already committing about €783 million to the Keliber lithium project in Finland, suggesting a stronger equity base could ease funding and balance-sheet pressure for that build-out.
With BlackRock now above 5% and South Africa’s PIC holding more than 20%, Sibanye-Stillwater has an unusually concentrated institutional register for a Johannesburg- and New York-listed gold–PGM producer, which can stabilise support for large capital programmes but also sharpen scrutiny of underperforming assets such as Marikana.
Gold and platinum feature across more than 260 keyword-matched pieces in our database, but Sibanye-Stillwater is one of the few names simultaneously active in lithium (Keliber) and previously in US battery metals (Rhyolite Ridge with Ioneer), signalling a deliberate pivot from pure precious metals into a diversified critical-minerals portfolio spanning Africa, the USA and Europe.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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