BUSINESS •
He expanded – the industry ’ s involvement with stakeholders now stretches far beyond the confines of the 2015 definition of the modern mining industry agreed to by industry peers – “ Business and government have started to work together to address critical national challenges in South Africa that are impeding competitiveness across all sectors of the economy .
“ Meaningful progress towards resolving the challenges of energy supply , transport and logistics , and crime and corruption through crisis committees established has real promise to shape a more positive climate for investment across all sectors of the economy . I am hopeful the positive relations being led through the Presidency will prompt improvement in the mining policy environment and administrative effectiveness that is required to liberate value from South Africa ’ s mineral endowment ,” Froneman concluded .
The power of mining is slowly being acknowledged as mines move beyond the traditional confines of modern mining and Sibanye- Stillwater , and many other mining companies make their mark in our world . Perhaps , in the near future , mining will be looked on in a more positive light by all stakeholders for the shared value it offers as a ‘ force for good ’, in spite of the past .
Go to https :// www . linkedin . com / posts / african-mining-publication _ joburgindaba-mining-crime-activity-7115315608635752448- 1Fcd /? utm _ source = share & utm _ medium = member _ android to see Sharyn Macnamara in conversation with Froneman , discussing the promise of a better future in South Africa with the government and business collaboration now a key focus .
As miners , we must go much further in making the world a better place through our activities . To secure recognition as a ‘ force for good ’, we aim to go well beyond being a responsible operator that conducts its business in a way that causes no harm to actually adding value and contributing positively to society .
Sibanye-Stillwater ’ s strategic moves on copper Sharyn Macnamara ( SM ) discussed Sibanye-Stillwater ’ s copper strategy with CEO Neal Froneman ( NF ) at the Joburg Indaba in October 2023 .
SM : With Sibanye-Stillwater now making moves in the copper space – how well is the company positioned in this space at the moment ? NF : When we acquired New Century Resources , we acquired with them an option on Mt Lyell in Tasmania , which offers us an assured future opportunity . ( After the interview , and on 1 November 2023 , the company exercised its option to acquire the copper mine in Australia ).
SM : It was clear in your keynote speech today that Sibanye- Stillwater has positioned itself well , diversifying across commodities and geographical areas . Despite severe disruption by the many “ grey elephants ” the mining industry is facing , the company is future fit and can therefore offer shared value to all the industry stakeholders , which has obviously always been a goal – since your tenure as CEO started in 2013 , have your insights and approaches changed in any way ? NF : The high-level strategy has remained intrinsically the same , bar for progression and evolution . That said , we ' re a learning organisation and you ' re never too old to learn . Every one of us has grown from 2013 , and through this , the team have almost become thought leaders in a way in the industry . We have created an environment where innovation and learning can take place at the company .
SM : What is the end goal ? NF : My dream is that that Sibanye-Stillwater , the company you see today , will be at least 10-fold bigger : not for the sake of being bigger , but bigger because of value-accretive growth . To add to this , although bigger in itself , the current business – as I envisage it could be – would only be 10 % of the overall value if this new strategy we are building that involves critical metals and minerals , and energy solutions [ is successful ]. That is my vision . •
Reference :
1 . The future of mining in the global economy – exploring the immense power of the mining industry as a driving force for development , innovation and change – keynote presentation by Neal Froneman , chief enabling officer of Sibanye-Stillwater .
www . africanmining . co . za African Mining Publication African Mining African Mining • January 2024 • 61