Life according to Neal
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