‘I think we are underweight in gold,’ says Sibanye CEO Neal Froneman

Once Sibanye-Stillwater resumes dividend payments and trims its debt load, it will be in a position to boost focus on M&A, Froneman says

Sibanye-Stillwater CEO Neal Froneman. Picture: FINANCIAL MAIL/FREDDY MAVUNDA

Once the Johannesburg-based producer resumes dividend payments and trims its debt load, it would be in a position to accelerate its focus on M&A, CEO Neal Froneman said in an interview, adding that the company is also weighing a switch in its primary listing to the US. Sibanye is likely to target North America-based gold producers with multiple assets, and may also in the future consider adding battery metals, he said.

Stricter vehicle emissions standards, including in China, are spurring more demand for the metals, which are used to curb vehicle emissions. While there’s no indication that prices of palladium are in a bubble, the industry is likely to see customers substitute the material for platinum, Froneman said.New York, Toronto or London are possible target locations as Sibanye pursues plans to move its main stock exchange listing outside of SA.

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