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"Global Mining Descisions in Your Palms"
When Neal Froneman took the helm at Sibanye-Stillwater in 2013, the company was a struggling collection of aging gold mines spun off from Gold Fields. Few could have predicted that a decade later, it would be a global mining powerhouse, spanning platinum, lithium, and green metals critical for the future. Now, as he prepares to step down in September 2025 according to the mining giant, Froneman leaves behind not just a thriving company but a legacy of bold leadership, strategic acquisitions, and industry-defining decisions.
At the start of his tenure, Froneman faced an uphill battle. The company had inherited mature gold assets that many in the industry doubted could generate long-term value. However, rather than simply managing decline, he steered Sibanye towards stability and profitability, laying the foundation for what would become a transformational growth story.
“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,” noted Sibanye-Stillwater’s chair, Vincent Maphai. This turnaround was just the beginning. Froneman saw beyond the gold sector and embarked on an ambitious expansion plan that reshaped the company into a diversified, multi-commodity mining giant.
Under Froneman’s leadership, Sibanye-Stillwater expanded aggressively, entering the platinum group metals (PGM) sector and making strategic acquisitions that positioned the company among the world’s top mining players. His vision extended beyond immediate profitability but he saw the future of mining in sustainability, battery metals, and green energy solutions.
Moreover, one of the defining moments of his tenure was the acquisition of Stillwater Mining in the U.S., a deal that strengthened Sibanye’s position in the global PGM market. This acquisition, alongside others, demonstrated Froneman’s ability to identify high-value opportunities and execute bold, strategic moves.
Maphai also reflected on Froneman’s leadership, emphasizing how he “drove the group’s strategic growth and diversification into what it is today.” He further noted that the company, now financially and operationally stable, owes much of its success to Froneman’s strategic foresight.
Froneman’s influence was not confined to his own company but was an active voice in the broader mining industry, championing initiatives to combat crime and corruption in the sector. His leadership extended to global platforms, including his tenure as chairman of the World Gold Council.
“Neal leaves behind a proud legacy at Sibanye-Stillwater and in the South African mining industry, which is testament to his strategic vision and inspirational leadership,” Maphai added, acknowledging the broader impact of Froneman’s work beyond just corporate success.
Nevertheless, as Froneman steps down, Sibanye-Stillwater has opted for continuity by appointing Richard Stewart, the company’s chief regional officer for Southern Africa, as his successor. Stewart will take over as CEO-designate in March 2025 before assuming full responsibilities in September.
The board expressed confidence in the internal succession plan, emphasizing that Stewart’s appointment was the result of a rigorous selection process. “Richard’s appointment is testament to the quality and depth of leadership at Sibanye-Stillwater and the well-considered and effective group succession planning processes,” the company stated.
Having been with Sibanye since 2014, Stewart has played a crucial role in shaping its growth strategy, holding various leadership positions. His experience in business development, operations, and technical services makes him well-suited to carry forward Froneman’s vision. However, as the mining landscape evolves, Stewart will also face the challenge of carving his own path and responding to industry shifts, particularly in the transition to greener energy solutions.
Conclusively, Froneman steps down from Sibanye-Stillwater not just as a CEO but as a visionary who reshaped South African and global mining. His tenure was marked by bold decisions, resilience, and an unrelenting push for growth. As he exits, the question remains—will his legacy continue under new leadership, or is Sibanye-Stillwater about to enter a new chapter with a different playbook?