[Image: TalkingCents / X]
Froneman surprised mining investors on Tuesday by declaring he would step into motorsport when he leaves Sibanye-Stillwater, the precious metals miner he founded in 2013.
Asked about his post-retirement plans, he told the London Indaba, a conference: “I’ll mention one because it’s completely off the wall, and that’s helping to bring a Formula One Grand Prix back to South Africa.
“It’s going to be difficult to be successful for many reasons, but it’s a group of very committed people that have done it before, run businesses, and like me, we’ve had one before,” he said.
He declined to say who his co-backers were, but later said in an interview he would work with Bobby Hartslief, COO of the US-based Boundless Motorsport. “I was asked to chair a consortium consisting of people who have done this before,” said Froneman. “One is Bobby, who ran the last six Grand Prix in South Africa at Kyalami.”
MiningMX reports that Boundless Motorsports is revving up plans to build a racetrack in Cape Town, putting them in direct competition with Hartlief’s efforts to bring Formula One back to Kyalami in Gauteng.
Froneman, a lifelong motorsport enthusiast, said the Western Cape government is firmly behind the project. He added that he’s working to make the Cape Town F1 bid financially viable, with an ambitious blueprint that includes space for 450,000 spectators and a sprawling real estate development featuring accommodation, retail spaces, and motorsport training centres.
The other advantage of building the track in Cape Town was to capitalise on its existing tourism, which includes access to the winelands and natural beauty. “Who wants to go to Gauteng,” said Froneman.
A closer look at South Africa’s proposed F1 track layout in Cape Town
Contrary to previous proposals, the latest design would not take the circuit through the DHL Stadium itself but run alongside it, using the venue for the paddock, media centre and hospitality areas. pic.twitter.com/Jt93TiKW4u
— Autosport (@autosport) April 8, 2025
Sibanye-Stillwater announced the retirement of Froneman last week, effective September, and that Richard Stewart, currently COO of the group’s Southern African operations, would be CEO-designate from March.
Froneman said the handover of the business to Stewart was progressing well, but he acknowledged the difficulty of letting go of the reins.
“It’s hard to let go, harder than I imagined. This is not a recent decision. I decided probably three years ago. So it was very analytical, research-oriented, but it does get difficult when you start actually using [implementing] it, and you have to let go.”
[Source: MiningMX]
