Adverse environment deters PGM investment, says Neal Froneman
Sibanye-Stillwater CEO flags risks as cause for big opportunities lying fallow
SA producers of most of the world’s platinum group metals (PGMs) are unlikely to invest heavily in new projects due to the unfavourable investment environment in the country and tough lessons learnt from the past, says Sibanye-Stillwater CEO Neal Froneman.
Prices for PGMs are racing ahead in a global surge of commodity prices including iron ore and copper, but “lack of an investor-friendly environment” will discourage producers of the six metals making up PGMs from committing to major new projects, despite more than a decade of underspending on mines, Froneman said. ..