South African mining mogul Neal Froneman’s Sibanye stake hits $10.5 million

Omokolade Ajayi -

Neal Froneman, a prominent South African business executive in the global precious metal mining sector, has witnessed a significant rise in his wealth. His stake in Sibanye-Stillwater has surged past $10 million, in line with our previous report.

Market data reveals that Froneman’s stake in Sibanye-Stillwater has grown by R37.05 million ($1.98 million) over the past 18 days, reaching R196.33 million ($10.51 million) at the time of this report. This increase is driven by renewed investor interest in the company.

This uptick follows a $1.57-million gain recorded between Mar. 5 and Mar. 30. During this period, the market value of his stake in the mining firm rose from R154.73 million ($8.22 million) to R184.2 million ($9.78 million).

Sibanye-Stillwater surges 23.26 percent on JSE

Sibanye-Stillwater, the Johannesburg-based mining giant, has cemented its position as a global leader in precious metals, boasting the world’s largest primary platinum production and ranking second in palladium and third in gold.

Shares of Sibanye-Stillwater on the Johannesburg Stock Exchange (JSE) have climbed 23.26 percent in the past 18 days, rising from R19 ($1.017) on March 19 to R23.42 ($1.254), with a market capitalization of $3.5 billion, delivering strong returns for shareholders.

Froneman’s portfolio rises by $1.98 million

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.

The recent surge in Sibanye-Stillwater’s share price has bolstered the market value of Froneman’s holding by R37.05 million ($1.98 million). It climbed from R159.27 million ($8.53 million) on March 19 to R196.33 million ($10.51 million).

This surge in his fortune cements Froneman’s position as a key figure in South Africa’s mining sector. His leadership and dedication continue to shape the industry, well-positioning Sibanye-Stillwater for continued success on the global stage.