South African mining billionaire Neal Froneman, famed for his industry leadership, has seen the value of his investment in Sibanye-Stillwater, a global precious metal mining business, drop by more than a million dollars since the start of the year.
The market value of Froneman’s position in Sibanye-Stillwater has declined by R19.45 million ($1.03 million) during the past 33 days, as investors reduced their holdings in the firm, resulting in the recent share slide (Billionaires.Africa data).
Sibanye-Stillwater, the Johannesburg-based mining conglomerate, has solidified its position as a global leader in precious metals, with the world’s largest primary platinum production, second in palladium, and third in gold.
Sibanye-Stillwater’s shares on the Johannesburg Stock Exchange have declined by 9.32% since the beginning of the year, from R24.9 ($1.32) per share to R22.58 ($1.195) per share as of this report. This decline has pushed its market capitalization below $3.4 billion.
Froneman, who played a crucial part in Sibanye-Stillwater’s metamorphosis into one of the world’s leading primary producers of platinum, palladium, and gold, now owns 0.3 percent of the precious metal mining company, or 8,382,849 ordinary shares.
As a result of the single-digit drop in the company’s shares, the market value of Neal Froneman’s interest has declined by R19.45 million ($1.03 million) during the last 33 days, falling from R208.73 million ($11.05 million) on January 1 to R189.28 million ($10.03 million).
Despite the recent financial catastrophe, Froneman remains a key position in South Africa’s mining industry. His unwavering devotion and effective leadership continue to have a big impact on the sector.
