South African businessman Neal Froneman, a leading figure in the global precious metal mining industry, has suffered a significant decline of nearly $7 million from his stake in Sibanye-Stillwater, a multinational precious metal mining company, in just over 100 days.
Data gathered by Billionaires.Africa reveals that Froneman’s shares in the mining group have declined by R133.2 million ($6.9 million) in the past 103 days, primarily due to a significant dip in the company’s shares traded on the Johannesburg Stock Exchange.
Sibanye-Stillwater, a prominent player in the gold and base metal mining sectors, has experienced a challenging market environment, dampening investor sentiment and declining 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 May 8, the share price of Sibanye-Stillwater has declined by more than 35 percent, falling from R44.71 ($2.35) on May 8 to R28.82 ($1.51) at the time of writing, consequently pushing the group’s market capitalization below $4.5 billion.
The double-digit slump in Sibanye-Stillwater’s shares has caused the market value of Neal Froneman’s stake to decline by R133.2 million ($6.9 million) from R374.79 million ($19.7 million) on May 8 to R241.59 million ($12.7 million) at the time of writing this report.
Despite a significant financial setback of nearly $7 million, the leading businessman, Froneman, continues to maintain a distinguished position as one of the top players in South Africa’s vibrant mining industry.
