
Neal Froneman-led Sibanye-Stillwater becomes majority owner of Finnish battery maker, Keliber
Froneman owns a 0.074-percent stake in Sibanye-Stillwater.
Froneman owns a 0.074-percent stake in Sibanye-Stillwater.
The news comes nearly two months after it suspended operations in Montana for seven weeks.
Regional floods led to the decision to pause operations.
The news comes after the group signed a three-year wage agreement with its gold mine workers.
In 2021, Sibanye-Stillwater’s executive directors and officers were handsomely rewarded, with $51.1 million in remuneration.
Froneman received $18.9 million in compensation in 2021.
Froneman owns a 0.074-percent stake in the company worth more than $10 million.
Sibanye-Stillwater is a multinational precious metal mining company.
The Froneman-led mining group will take full ownership of the low-cost, mechanized Kroondal operation
Sibanye-Stillwater is the world’s largest primary producer of platinum, second-largest producer of palladium and third largest producer of gold.
The World Gold Council created the principles to address critical environmental, social and governance issues.
This follows Sibanye’s purchase of a 30-percent stake in the Finnish lithium hydroxide project Keliber in February.
As of press time, its shares were trading 7.17-percent lower than its opening price for the day.
The closure will most probably occur due to low returns as it becomes harder to exploit aging assets in the country.
CEO Neal Froneman said the move demonstrates that the company will not waste money on mergers and acquisitions.
The Sibanye-Stillwater CEO took issue with South Africa’s sluggish stance on attaining carbon neutrality.