Home » South African tycoon Neal Froneman takes $6.7-million hit as Sibanye-Stillwater shares tumble

South African tycoon Neal Froneman takes $6.7-million hit as Sibanye-Stillwater shares tumble

by Feyisayo Ajayi
Neal Froneman

South African businessman Neal Froneman, a leading figure in the global precious metal mining industry, has experienced a significant decline in the market value of his holdings in Sibanye-Stillwater, a multinational precious metal mining company with operations in South Africa and the Americas. 

Recent research by Billionaires.Africa reveals that Froneman’s shareholding in the mining group has diminished by R121.2 million ($6.7 million) since the start of the year, primarily due to a fall in the company’s shares on the Johannesburg Stock Exchange.

Sibanye-Stillwater, a prominent player in the gold and base metal mining sectors, has experienced a challenging market environment, leading to dampened investor sentiment and a decline in share prices. 

Froneman, who played a key role in driving Sibanye-Stillwater’s transformation into one of the world’s leading primary producers of platinum, palladium, and gold, presently holds a 0.3-percent stake, or 8,382,849 ordinary shares, in the precious metal mining group.

Since the start of the year, the share price of Sibanye-Stillwater has declined by more than 30 percent, falling from more than 30 percent from R46.86 ($2.6131) on Jan. 1 to R32.40 ($1.8067) on June 23, thus pushing its market capitalization below $5.5 billion. 

The sharp drop in Sibanye-Stillwater’s share value has significantly impacted Froneman’s stake, causing a staggering reduction from R392.82 million ($21.9 million) on Jan. 1 to R271.6 million ($15.1 million) at the time of this report. 

This substantial decrease translates to a substantial loss of R121.2 million ($6.7 million) for the leading businessman, who ranks as one of the key players in South Africa’s mining sectors.

You may also like


The world’s premier source of news on Africa’s billionaires and UHNWIs.


Get the daily email to stay informed about African billionaires and UHNWIs. Get informed and entertained, for free.

Latest News

@2024 – Billionaires.Africa. All Rights Reserved.