Neal Froneman-led Sibanye Reports 289 Workers Trapped In South Africa Mine

Sibanye reports 289 miners trapped at Kloof gold mine all safe at assembly point as rescue and safety checks continue.

South Africa mining faces ongoing safety risks amid aging infrastructure and rising costs, highlighted by recent fatal illegal mining incidents.

CEO Neal Froneman exits amid financial strain Sibanye cuts 2024 loss to 311 million, PIC raises stake to 15.4, signaling cautious investor confidence.

South African mining giant Sibanye-Stillwater, led by Neal Froneman, confirmed Friday that 289 workers remain trapped underground at the companys Kloof gold mine near Johannesburg. The miners are reportedly safe and gathered at an assembly point deep within the Kloof 7 shaft, one of the deepest gold mining operations in the region, located about 60 kilometers west of the city.

Details on the cause of the incident remain scarce, but the company is actively conducting safety checks and shaft inspections before hoisting workers to the surface. Sibanye said it is providing food and support to the trapped miners while emergency teams continue rescue efforts. The firm expects to resolve the situation by midday.

Mining accidents are an all-too-frequent reality in South Africa, home to some of the worlds oldest and deepest gold mines. This latest incident comes amid an industry grappling with aging infrastructure, volatile commodity prices, and rising operational costs.

Earlier this year, a grim discovery of 78 bodies in an illegal gold mine underscored the perilous conditions miners face, as authorities sought to clamp down on illicit mining activity. The incident at Sibanyes Kloof mine shines a harsh light on ongoing safety concerns in the sector.

Under Fronemans decade-long leadership, Sibanye-Stillwater aggressively expanded its portfolio across gold, platinum, and palladium mining. He holds a 0.12 percent stake in the company, worth over 3.2 million shares. Yet, the group is far from out of the woods financially. Despite cutting its 2024 loss to 311 million from 2.03 billion in 2023, the company faces pressure from fluctuating commodity prices and operational challenges.