Knocking out the dents in Sibanye
Sibanye-Stillwater is no longer existentially embattled — but it remains challenged if PGM prices don’t improve
Sibanye-Stillwater CEO-designate Richard Stewart told investors last month he has no plans to change the miner’s strategy. Having been with Sibanye-Stillwater for a decade — he was appointed three years after the company was founded by Neal Froneman — he participated in the key strategy decisions of diversifying production and geography.
We’ve seen this picture before though. Last year Duncan Wanblad upended the strategy of his forerunner at Anglo American, Mark Cutifani — much to the latter’s chagrin. In 2011, Gold Fields CEO Nick Holland sold the South African firm’s West Rand mines Driefontein and Kloof, dismantling plans of the Gencor-Gold Fields merger. In both cases, a combination of market and internal financial pressures forced the hands of the incumbents...
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.