Published: May 12, 2017 |

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The new boss of Stillwater Mining Co. reiterated Tuesday he still hopes to bring a corporate office back to Montana, likely in Billings.

But Neal Froneman, CEO of Sibanye Gold Ltd., the company that bought Stillwater, said in a telephone interview that he sees broader potential for Stillwater, which operates its corporate headquarters in Littleton, Colorado.

Stillwater could have multiple corporate offices in the United States, which could better market the platinum group metals mined in Montana, Froneman said during his first visit to the state since the merger was completed last week.

“What I can say to you today is we are looking to grow our presence quite actively in the U.S. … Looking forward, we are looking at a lot more corporate activity in the U.S. … What we need to do is cement our base in Montana. But we also need to think about broader growth in the Americas,” Froneman said Tuesday morning from Columbus.

Stillwater closed its corporate headquarters in Billings in 2015 and moved to Littleton. Company officials said then the move to the Denver suburb was more cost-effective, convenient for customers and closer to company auditors and attorneys.

Stillwater is one of south-central Montana’s largest employers, with about 1,400 workers, mostly at its two mines outside Nye and Big Timber and its Columbus recycling smelter.

Over the weekend, Froneman flew 14 hours from his home office in Johannesburg, South Africa, to New York, then stopped at the Colorado corporate office. He arrived in Billings Tuesday morning and plans to stay in the area through Thursday, meeting with employees, union officials, area landowners and other stakeholders.

Sibanye completed its $2.2 billion acquisition of Stillwater on Thursday, placing North America’s only platinum and palladium producer entirely under South African control.

Froneman has stated multiple times that he’s interested in maintaining and growing Stillwater’s operations to improve Sibanye’s portfolio in platinum groups metals.

The South African firm is now the world’s fourth-largest producer of platinum and palladium after mining none of those precious metals just three years ago.

Froneman last traveled to Montana in December shortly after the two companies announced the merger. Since then, he said he’s worked hard to convince Sibanye shareholders it was the right move, and he was pleased that more than three-quarters voted to approve.

Froneman said he plans to spend about half his time in the United States overseeing the operation. Stillwater’s CEO, Mick McMullen, and chief financial officer, Chris Bateman, will stay with the company for up to a year to aid in the transition.

Froneman said he’s delivering a message emphasizing continuity to people in Montana this week.

“We really need to ensure there’s a minimum of disruptions, a harmonizing of policies … To me, it’s always a pleasure to come to the U.S. I’m calling it a new dawn, it’s a new chapter in all of our lives,” he said.

Source: (May 10, 2017) Billings Gazette

To stop by Stillwater’s website, CLICK HERE

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