Richard Stewart Takes the Helm as CEO of Sibanye-Stillwater

Sibanye-Stillwater has entered a new leadership era with the appointment of Richard Stewart as Chief Executive Officer, effective 1 October 2025, following the retirement of long-standing CEO Neal Froneman. Froneman’s 12-year tenure is widely credited with transforming Sibanye-Stillwater from a South African gold producer into a globally diversified mining powerhouse, spanning platinum group metals (PGMs), gold, battery metals, and recycling operations. Stewart’s succession marks both continuity and renewal, as the company positions itself to navigate the evolving dynamics of global mining, sustainability, and energy transition minerals.

Dr. Richard Stewart brings to the role over 25 years of experience in geology, mining operations, and corporate leadership. A graduate of the University of the Witwatersrand, where he earned both a BSc (Hons) and a PhD in Geology, Stewart later obtained an MBA from Warwick Business School in the United Kingdom, equipping him with both technical expertise and strategic acumen. Since joining Sibanye-Stillwater in 2014, he has held several key executive roles, including Group Chief Operating Officer (2020) and Chief Regional Officer: Southern Africa (2022). His contributions as Executive Vice President: Business Development were pivotal in driving Sibanye’s successful acquisitions and international expansion, reinforcing the company’s status as one of the world’s leading producers of PGMs and a significant player in the green metals value chain.

In addition to his corporate responsibilities, Stewart maintains a strong professional presence within the broader mining community. He currently serves as Vice President of the Minerals Council of South Africa, is a Fellow of the Geological Society of South Africa, and is registered as a Natural Scientist, underscoring his commitment to scientific excellence and ethical governance in the mining sector. His earlier career includes senior roles at notable institutions such as Gold One, Goliath Gold Limited, CSIR Mining Technology, Shango Solutions, Uranium One, and African Global Capital, where he gained extensive multidisciplinary experience across exploration, project development, and investment.

Sibanye-Stillwater also announced the appointment of Mduduzi (Mdu) Bhulose as Executive Vice President: Business Development. Bhulose, formerly Head of Listed Equities at South Africa’s Public Investment Corporation (PIC), brings a wealth of financial and strategic insight to the company’s leadership team. His addition signals Sibanye’s continued focus on disciplined capital allocation, portfolio optimization, and growth in future-facing commodities. Stewart, in his opening remarks, expressed gratitude to Neal Froneman for his “visionary leadership” and welcomed Bhulose as an integral partner in steering the group through its next phase of growth and sustainability.

Under Stewart’s leadership, Sibanye-Stillwater is expected to reinforce its reputation as a cornerstone of South Africa’s mining industry, while expanding its influence in global markets. His blend of geological expertise, operational discipline, and business foresight positions him to lead the company through challenges such as fluctuating commodity prices, environmental pressures, and the ongoing shift toward decarbonization. For the African mining landscape, Stewart’s appointment underscores the emergence of a new generation of technically grounded and strategically minded leaders capable of driving sustainable value creation, stakeholder engagement, and regional economic resilience.

Mini-Glossary

• PGMs (Platinum Group Metals): A group of six precious metals; platinum, palladium, rhodium, iridium, osmium, and ruthenium, used in catalytic converters, electronics, and hydrogen technologies.
• Business Development: Corporate strategies and activities aimed at growing a company through acquisitions, partnerships, and market expansion.
• Minerals Council of South Africa: The industry body representing South Africa’s mining sector, focusing on policy, safety, and sustainability.
• Natural Scientist (Registered): A professional designation recognizing competence and ethical standards in applied scientific fields.
• Decarbonization: The process of reducing carbon dioxide emissions in industries and energy systems to combat climate change.
• Energy Transition Minerals: Metals and minerals, such as nickel, lithium, and PGMs, essential for renewable energy technologies and electric vehicles.