Neal Froneman to retire after transformative 12 years

Neal Froneman (right) at the NYSE relisting in 2020. Source: Sibanye-Stillwater/Flickr

During his tenure Froneman orchestrated a series of strategic acquisitions that diversified the company's portfolio across platinum group metals (PGMs), battery metals, and circular economy investments.

Starting with three mature gold mines inherited from Gold Fields, he led the company through an aggressive expansion that included landmark deals such as the acquisition of Anglo American Platinum's Rustenburg operations and the merger with Lonmin.

"Neal has led the Sibanye-Stillwater Group since 2013, guiding the initial turnaround of the three mature, challenging gold mines that the Group inherited from Gold Fields,” Sibanye-Stillwater board chair Vincent Maphai said.

“From the significantly more profitable and stable base that was established, he subsequently drove the strategic growth and diversification of the Group into what it is today - a multinational mining and metals processing company with a diverse portfolio of operations, projects and investments across five continents."

Diversified portfolio

Under Froneman's leadership, Sibanye-Stillwater made significant moves into the battery metals sector, securing stakes in the Keliber Lithium project in Finland and the Rhyolite Ridge lithium-boron project in the US.

The company also expanded into the circular economy through investments in tailings retreatment operations, including increasing its shareholding in DRDGOLD and acquiring New Century Resources in Australia.

Richard Stewart's appointment follows a comprehensive succession process that considered both external and internal candidates.

Stewart, who joined the Group in 2014, has been instrumental in implementing the company's strategy, particularly during its expansion into the PGM sector.

He has held various executive leadership positions within the group, including COO and EVP for business development.

’Take the group to new heights’

"We welcome Richard's appointment and are confident that this internal succession will ensure continuity and a seamless leadership transition, allowing Richard and the Sibanye-Stillwater leadership team to take the Group to new heights and continued creation of shared value for all stakeholders," said Maphai, expressing confidence in the transition.

Beyond his corporate achievements, Froneman's legacy extends to his broader industry leadership, including his role as chairman of the World Gold Council and his efforts to combat crime and corruption in the South African mining sector.

While retiring from his executive role, Froneman is expected to continue contributing to the advancement of the global minerals industry in various capacities.