Life ac­cord­ing to Neal

Finweek English Edition - - INSIDE -

The ca­reer of Neal Frone­man, who will lead the newly cre­ated SA gold com­pany, Sibanye Gold, cap­tures the swash­buck­ling ef­forts of min­ing en­trepreneurs of days past.

Sibanye Gold will have 1.4m ounces of gold pro­duc­tion an­nu­ally and con­sist of ma­ture mines un­bun­dled from Gold Fields. In essence, the com­pany, though new-sound­ing, owns some of SA’s old­est op­er­at­ing mines, and its grand­est.

Even the strat­egy of us­ing Sibanye Gold as a beach­head for con­sol­i­da­tion – or “rip­ping down the farm bound­aries” as Gold Fields CEO, Nick Hol­land, de­scribed it – is a reprise of ear­lier plans that are based on the fun­da­men­tal fact that the coun­try’s gold sec­tor is in sun­set mode.

Frone­man ad­mits to giv­ing up meaty re­ten­tion bonuses at Gold One In­ter­na­tional, the com­pany he cre­ated. But the

Cover con­cept: Matthys Ras

Neal Frone­man

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