South African mining mogul Neal Froneman softens US stance after being called unpatriotic

South African mining mogul Neal Froneman has softened his call for the US to target the individuals behind South Africa's contested policies, days after President Cyril Ramaphosa's office called his approach "unpatriotic and destructive."

The former chief executive of Sibanye-Stillwater Ltd. told Business Day that his reference to targeting individuals "could, without the broader context, have created an unintended impression." He said his aim had been "protecting South Africa's economic interests, investment and jobs" from the fallout of the dispute between Pretoria and Washington.

"As a patriot, I remain deeply committed to contributing to South Africa's efforts to address inequality," he said.

He did not withdraw the call outright, and he did not say whether he would step back from the partnership between business and government that Ramaphosa launched in August.

What he said

The row began with an interview Froneman gave to BizNews, the South African business news site, about his bid to bring Formula One back to the country. Asked whether tensions with the US could hurt the project, he said Washington should not punish South African companies.

"Rather target those individuals who continue to drive policies that are not supported by the majority of South Africans," he said. "The private sector and the majority of South Africans are not the problem."

He cited expropriation of land without compensation, South Africa's foreign policy and its support for Iran as the policies he objected to.

Presidency spokesperson Vincent Magwenya responded on Oct. 7. "He is a successful businessman, for which we respect him. But he is not a diplomat," Magwenya said, adding that "one would expect he will withdraw his participation now that he is at odds with the government."

Business for South Africa, the group that coordinates the private sector's role in the partnership, said it was engaging the parties involved and remained committed to the program, which aims to lift annual growth above 3% and create a million jobs by 2030.

A bruising time for US ties

The exchange comes as relations between South Africa and the US have deteriorated sharply. President Donald Trump's administration has attacked South Africa's land reform policies and repeated claims that white farmers are being persecuted, which Pretoria rejects. In September, US Secretary of State Marco Rubio announced visa restrictions on people Washington accuses of promoting discriminatory policies or land seizures without compensation, without naming anyone.

Pretoria has said its policies are meant to correct historical racial injustice and that disagreements should be settled through diplomacy.

From gold to Formula One

Froneman, one of the best-known executives in South African mining, retired in September 2025 after 12 years running Sibanye-Stillwater. He built the company from a set of gold mines spun out of Gold Fields in 2013 into one of the world's largest producers of platinum group metals, through a string of acquisitions that included the $2.2 billion purchase of US palladium miner Stillwater Mining in 2017.

He now chairs copper miner Copper 360 and the crime-fighting business group Business Against Crime South Africa, and helps lead business's work on crime and corruption in the government partnership.

He also leads a consortium trying to bring a Formula One Grand Prix to the Western Cape, which pitched a 6.7 billion rand, or roughly $400 million, racetrack proposal in September. South Africa last hosted a Formula One race in 1993.