Neal Froneman’s big bet on lithium
The Sibanye CEO’s Stillwater deal was either genius or pot luck — or both. The company’s gamble on lithium is trickier to call
24 November 2022 - 05:00
When Sibanye bought Stillwater Mining, the market thought the firm’s CEO, Neal Froneman, had lost his mind.
Stillwater would cost about R30bn, R4bn more than Sibanye’s market capitalisation, and the asset was variable in quality. And who did Froneman think he was anyway? Sibanye had already bought Rustenburg Platinum from Anglo American Platinum in 2016, which had surprised the market. Hadn’t Froneman dedicated Sibanye to paying dividends? Was this a repeat of his overreach in uranium during 2009 when his JSE-listed Uranium One crashed and burnt?..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.