JOHANNESBURG – Black Rock, one of the world’s largest asset managers with $4.7-trillion under management, has increased its shareholding in mining group Anglo American to above 5%, the global diversified miner said on Friday.
Black Rock’s shareholding now stands at 5.17% following the purchase of just over 70 000 Anglo shares on Wednesday, July 1. At the current Anglo share price of R173, the shares are worth R12.1 million. The purchase will be viewed as a vote of confidence in the miner at a time when mining shares are down due to lower commodity prices