Modern Mining August 2021

Neal Froneman awarded SAIMM’s most prestigious prize

Resolute Mining Limited (ASX/LSE:RSG) has confirmed the completion of the sale of the Bibiani Gold Mine (Bibiani) in Ghana to Asante Gold Corporation (Asante) for total cash consid- eration of US$90-million. Resolute has received the initial US$30- million cash payment from Asante with the balance of consideration payable in two equal instalments of US$30-million on or before six and 12 months following completion. The sale of Bibiani was undertaken as part of Resolute’s strategic focus on its core operat- ing assets and to strengthen the balance sheet. The initial cash receipt of US$30-million will be applied to the voluntary early repayment of “‘The Brig’, as he was commonly known, was a remarkable and resilient man with a superior intellect, inexhaustible energy and an insatiable curiosity, who travelled widely and had many friends,” said SAIMM member Professor Alex du Plessis, who read the citation at the annual general meeting. “It is indeed, therefore, fit- ting that the award is made this year to Neal Known for his skills as an ace dealmaker, min- ing giant Neal Froneman has been honoured with the 2021 Brigadier Stokes award by the Southern African Institute of Mining and Metallurgy (SAIMM), considered the highest distinction to be bestowed by the South African mining and metallurgical sector. Having taken over duties as executive direc- tor and CEO on January 1, 2013, Froneman has spent the past eight years transforming Sibanye-Stillwater from a 1,5 Moz South Africa- based gold producer into a leading precious metals miner with an international operating footprint, ranking among the world’s top three PGM producers. Approaching his 38 th year in the South African mining sector, Froneman said he felt incredibly humbled to be receiving this award. “When I look at the list of past recipients com- prising eminent individuals who have left an indelible mark on the South African mining industry, I feel deeply humbled to be joining such august company.” The Brigadier Stokes Memorial Award was instituted in 1980 in commemoration of the outstanding contribution that Brigadier R.S.G. Stokes made to the South African mining and metallurgical industries over many years.

Neal Froneman, CEO of Sibanye-Stillwater. John Froneman as he, in addition to displaying these attributes, has brought a notably entre- preneurial and technically innovative approach to mining in South Africa.” Froneman received the award during an online annual general meeting of the insti- tute on August 12, joining the likes of mining veterans and influencers such as Harry Oppenheimer, African Rainbow Minerals founder and chairperson Patrice Motsepe, for- mer AngloGold Ashanti CEO Bobby Godsell, former Exxaro Resources CEO Sipho Nkosi and Minerals Council South Africa CEO Roger Baxter, among others. “I was reminded of Brigadier Stokes’ simple and succinct ABCs of enduring relevance for respectful engagement: and, that is to be artic- ulate, brief and courteous,” added Froneman. “I trust that I have conformed with Brigadier Stokes’ mantra in accepting the award insti- tuted to honour his legacy in shaping the South African mining industry.” 

Sale of Bibiani Gold Mine completed

debt. No material tax implications are expected following the completion of the transaction. 

August 2021  MODERN MINING  5