Sibanye Gold CEO: People Bullish on Future of Gold

Neil Frontman, CEO of Sibanye Gold, discusses the current favorable market conditions for gold and the potential for acquisitions. He highlights the company's interest in expanding into other commodities like PGMs. Despite political and economic challenges in South Africa, Frontman emphasizes the company's understanding of the local environment and reliance on a strong legal system. He also addresses governance issues and the need for change, while expressing optimism about future opportunities in South Africa's resource-rich landscape.

What is the main reason for the current optimism in the gold market according to Neil Frontman?

• Improved gold prices and a pullback in equities

• Increased demand for gold jewelry

• New gold mining technologies

• Government subsidies for gold mining

Why does Sibanye Gold consider expanding into other commodities unusual?

• Gold companies typically focus only on gold

• Other commodities are less profitable

• There is a lack of expertise in other commodities

• Government regulations prohibit such expansions

What is one of the main challenges for mining companies operating in South Africa?

• Political instability and dealing with unions

• Limited access to mining equipment

• Lack of skilled labor

• High transportation costs

What is the perception of foreign companies operating in South Africa?

• They are considered more efficient than local companies

• They are welcomed with open arms

• They are given tax breaks

• They are seen as exploiting the country's resources

What is a positive aspect of the South African legal system mentioned in the transcript?

• It provides strong support for businesses

• It is slow and bureaucratic

• It favors foreign companies over local ones

• It is easily influenced by political leaders