South African mining tycoon Neal Froneman gains $6 million from Sibanye stake
Neal Froneman gains $6 million from his stake in Sibanye-Stillwater as the company's shares surge 221 percent in 2025.
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Neal Froneman gains $6 million from his stake in Sibanye-Stillwater as the company's shares surge 221 percent in 2025.
Sibanye-Stillwater names Richard Stewart CEO as Neal Froneman retires, with stock hitting record highs.
Sibanye-Stillwater, led by outgoing CEO Neal Froneman, closed its $129 million purchase of U.S. recycler Metallix to boost circular economy push.
The initiative—intended to reset strained trade ties—was presented to President Cyril Ramaphosa ahead of his May 21 meeting with U.S. President Donald Trump.
Sibanye-Stillwater, led by Neal Froneman, acquires U.S.-based Metallix for $82 million, boosting its circular economy strategy and U.S. metals footprint.
“There’s no question, it’s a good project,” Froneman said, noting that the company had already invested $223.3 million before pausing development in 2021.
The miners were stranded Thursday after a skip door on a rock winder opened unexpectedly at Level 39, disrupting access to lower levels.
Details on the cause of the incident remain scarce, but the company is actively conducting safety checks and shaft inspections before hoisting workers to the surface.
PIC has increased its stake in Sibanye to 15.409% with a $11.85 million share purchase, signaling renewed confidence ahead of CEO Neal Froneman’s retirement.
The company warned that its South African PGM operations may no longer be viable if prices don’t recover soon.
Sibanye-Stillwater narrows 2024 loss to $311 million under Neal Froneman, showing signs of recovery amid weak metal markets and operational restructuring.
Sibanye-Stillwater, led by Neal Froneman, begins commercial operations at 89 MW Castle Wind Farm, advancing its renewable energy goals and sustainability efforts.
This move signals a reassessment of its exposure to the $3-billion mining group amid evolving economic dynamics in South Africa.
The company has communicated its decision to ioneer, which will now seek alternative pathways to advance the project.
Sibanye-Stillwater posts a $70.4 million profit in H2 2024, driven by restructuring, cost-cutting, and higher gold prices as CEO Neal Froneman nears retirement.
His departure marks the end of a transformative chapter for the multinational mining group.