Neal Froneman-led Sibanye rescues 260 workers trapped in South Africa mine

Key Points

• Sibanye-Stillwater rescued all 260 trapped miners at Kloof 7 shaft after a skip door malfunction halted access underground.
• Operations at Kloof mine suspended pending a safety probe by regulators, unions, and the Department of Mineral Resources.
• CEO Neal Froneman prepares to exit as Sibanye cuts 2024 losses but faces financial challenges and ongoing mining safety risks.

South African mining giant Sibanye-Stillwater, led by Neal Froneman, said Friday it had rescued all 260 workers trapped underground at its Kloof 7 shaft, one of the deepest gold operations in South Africa. The miners were stranded Thursday after a skip door on a rock winder opened unexpectedly at Level 39, disrupting access to lower levels.

The fault occurred around 10 a.m., leaving the miners underground for over a day while safety and shaft inspections were carried out. The first group of workers resurfaced at 1:30 p.m. Friday, with the remainder brought up by 7:30 p.m. No injuries or fatalities were reported.

Kloof operations suspended as probe begins

Sibanye has suspended operations at the Kloof mine near Johannesburg while regulators, unions, and the Department of Mineral Resources conduct a joint risk assessment.

“Safety remains our core priority,” Froneman said in a statement. “We will not resume operations until all remedial actions are in place.” The company noted food and water were provided to workers underground, and medical and psychological support is being offered post-rescue.

Rescue teams were dispatched immediately, though emergency escape routes were ruled out due to the extensive underground distances.

Mining safety remains under scrutiny

The incident reignites concerns over safety in South Africa’s mining sector. Although fatality rates have improved, 42 miners have died in 2024 so far, down from 55 in 2023, per the Minerals Council.

Sibanye, grappling with rising costs and weaker gold prices, warned in April that it may close unprofitable platinum group metals operations if market conditions don’t improve. Still, the Public Investment Corporation raised its stake to 15.4 percent, investing $12.18 million during a leadership transition—signaling cautious confidence as CEO Neal Froneman prepares to exit.

Froneman era nears end amid uncertainty

CEO Neal Froneman, who led Sibanye’s transformation into a major precious metals player, owns 0.12 percent of the company—more than 3.2 million shares. Under his leadership, the miner expanded into platinum and palladium, but now faces a testing financial environment.

The company managed to reduce its 2024 loss to $311 million, down from $2.03 billion the previous year. However, the recent incident at the Kloof mine serves as a reminder of the ongoing risks involved in deep-level mining within South Africa’s aging shafts.