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The Minister of Mineral Resources and Energy, Gwede Mantashe, during Joburg Mining Indaba, held at Inanda Club on October 3, 2019 (Photo by Gallo Images / Business Day / Freddy Mavunda).
Labor Day / Freddy Mavunda
Mineral Resources and Energy Minister Gwede Mantashe criticized Sibanye-Stillwater, led by Neal Froneman, for its empowering credentials, calling it “abnormal,” warning that there will be consequences if the company does not address the issue.
In a speech Tuesday at Junior Mining Indaba, Mantashe opposed the acquisition of BEE’s 15% ownership of Sibanye, which it said the company shared with Gold Fields. Mantashe noted that Sibanye, which is the world’s leading platinum producer, inherited the stake through the acquisition of the Gold Fields assets which had sold a stake to Tokyo Sexwale’s Mvelaphanda Resources 17 years ago.
“Golf Fields had a 15% stake in the Tokyo company and Sibanye got it by succession when Tokyo was no longer there, that’s abnormal. That debate is going to be open,” Mantashe said.
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