Platinum Mining Giant Says South Africa Running Out of Time
- Sibanye CEO Froneman sees risk of country sliding backward
- Miner looking at investment opportunities outside South Africa
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South African President Cyril Ramaphosa may be running out of time to enact the reforms required to attract significant investments in the country’s mining industry.
That’s the fear expressed by Sibanye Gold Ltd. Chief Executive Officer Neal Froneman, who prefers to look at opportunities in West Africa, the Americas and Australia. The risks of doing business in his home country will increase should weak economic growth and ballooning government debt be compounded by the loss of South Africa’s last investment-grade credit rating, he said.