1 min readBy Olamilekan Okebiorun
Mining tycoon plans to spend $402 million turning his 600 hectares of farmland into a Formula 1 circuit as South Africa eyes a return after 38 years
A South African consortium led by former Sibanye-Stillwater executive chairman Neal Froneman is exploring a R6.7 billion ($402 million) motorsport and property development in the Western Cape that could bring Formula One back to the country by 2031.
By Olamilekan OkebiorunSouth Africa
Gold and platinum tycoon bets $402 million to turn his 600 hectares of farmland into a Formula 1 circuit as his country eyes a return after 38 years
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About this article
- Length
- 28 words · 1 min read
- Published
- October 2, 2026
- Byline
- Olamilekan Okebiorun
- Source
- Business Insider