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Mantashe rips into Neal Froneman-led Sibanye over 'stolen' BEE credentials

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Mineral Resources and Energy minister Gwede Mantashe during at the Joburg Mining Indaba held at Inanda Club on October 3, 2019. (Photo by Gallo Images/Business Day/Freddy Mavunda)
Mineral Resources and Energy minister Gwede Mantashe during at the Joburg Mining Indaba held at Inanda Club on October 3, 2019. (Photo by Gallo Images/Business Day/Freddy Mavunda)
Business Day/Freddy Mavunda

The Minister of Mineral Resources and Energy, Gwede Mantashe, has blasted Neal Froneman-led Sibanye-Stillwater over its empowerment credentials which he called "abnormal", warning there will be consequences if the company does not address the matter.

In a speech on Tuesday at the Junior Mining Indaba, Mantashe took issue with the acquisition of Sibanye's 15% BEE ownership, which he said the company shared with Gold Fields.  Mantashe highlighted that Sibanye, which is the world's top producer of platinum, inherited the stake through the acquisition of Gold Fields assets which had sold a stake to Tokyo Sexwale's Mvelaphanda Resources 17 years ago.

"Golf Fields had a 15% shareholding of Tokyo's company and Sibanye got it by succession when Tokyo was no longer there, that thing is abnormal. That debate is going to be open," said Mantashe.

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