Australian platinum group metals (PGM) developer Podium Minerals has appointed former Sibanye-Stillwater CEO Neal Froneman as its nonexecutive chairperson.

The appointment, effective immediately, comes alongside a broader change of Podium’s board and executive team and reflects growing momentum behind the Park Reef project, which hosts the largest platinum resource in Australia.

Froneman, a well-known figure in the South African mining industry, led Sibanye-Stillwater for about 12 years until September, transforming the company into the world’s largest primary PGM producer and a major recycler.

With his appointment, Rod Baxter has transitioned from executive chairperson to MD and CEO.

Podium said Froneman brought more than four decades of mining experience, having previously held leadership roles at Gold One International and Uranium One, and earlier in his career at Gold Fields, Harmony and JCI. He currently chaired the World Gold Council and Business Against Crime South Africa.

Froneman said he was joining Podium at “a pivotal juncture” in its development. “I am delighted to be joining Podium at this pivotal juncture for the company and its flagship Parks Reef PGM project. I am excited by the prospect of contributing to the development and growth of a dynamic minerals business and supporting its journey to becoming a world-class producer of critical PGM products,” he said.

Froneman added that he was “particularly impressed by the foundational achievements of the team, especially in the metallurgical arena”, noting that the work had “clearly validated both the quality of the Parks Reef deposit and its potential to underpin a truly world-class PGM operation”.

Froneman also pointed to improving market conditions.

“The PGM market and price environment are at last beginning to realign and reflect the robust market fundamentals underpinning the sector, and I believe that we are entering a period of renewed opportunity for PGMs,” he said.

In addition to Froneman’s appointment, Podium has named former Anglo American Platinum executive Gary Humphries as an executive director. Humphries, who joined the company in October last year as head of processing, previously served as executive head of processing at Anglo Platinum, now known as Valterra Platinum.

The company has also appointed Garth Higgo as chief development officer. Higgo has more than three decades of experience in mining, infrastructure, corporate finance and project development, including roles at Ausenco, Aurecon, Consolidated Minerals, Anglo Platinum, Standard Bank and Murray & Roberts.

Baxter said the leadership changes would support the next stage of Parks Reef’s development.

“Our strategy for Parks Reef has been deliberate and focused, and the groundbreaking concentrator flowsheet announced in October last year represents a bold leap forward in our mission to unlock the immense in-situ value of Parks Reef,” he said.

He said Froneman’s appointment was a strong endorsement of the project and the company’s technical work.

“Neal’s decision to join our board serves as a strong endorsement of both the quality of the project, the magnitude of the opportunity on offer at Parks Reef, and the calibre of the team and technical work completed to date,” Baxter said.

“It also firmly signals our ambition to transform Parks Reef into a globally significant PGM operation.”

Baxter added that Froneman’s experience and network would be instrumental in accelerating Podium’s development plans, while Humphries’ appointment reflected his “commitment to, and belief in, our continued growth and success”.

“In short, Neal’s appointment represents a transformative milestone for our organisation, providing considerable strategic advantage for Podium and its stakeholders as we advance our ambitions within the PGM sector,” he said.

Parks Reef, located about 80 km west of Meekatharra in Western Australia, hosts Australia’s only defined 5E PGM mineral resource, totalling 183-million tonnes containing 7.6-million ounces of PGMs at an average grade of 1.30 g/t, together with copper, nickel and cobalt. The project contains the country’s largest platinum resource and comprises a 15-km-long bulk-tonnage deposit with high-grade zones that remain open at depth and along strike.