Mining investors, especially the long-suffering ones exposed to South Africa's tumultuous industry over the past decade, have called for renewed focus on cash generation and a return to dividends instead of M&A activity. But the approach of the Neal Froneman-led Sibanye is the polar opposite. This miner, formed out of the more labour-intensive and older South African gold operations of Gold Fields, has been on a shopping spree since its 2013 listing. Its focus is not likely to change in the medium term. "We've registered our interests with all gold and platinum companies in South Africa," Froneman said in an interview on the sidelines of the Mining Indaba. "And, of course, if the right opportunity comes along at the right price we will certainly look into it." His company had a bullish view on platinum-group metals - hence the acquisitions, he said. While this expansion has been welcomed, the miner's last and biggest deal was not received favourably. Sibanye's share price fell more ...
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