Wrap Text
Sibanye Gold declares updated mineral resources and mineral reserves
Sibanye Gold Limited
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold”, “Sibanye” or “the Company”)
SIBANYE GOLD DECLARES UPDATED MINERAL RESOURCES and MINERAL
RESERVES
Westonaria, 5 February 2015: Sibanye Gold Limited (JSE: SGL &
NYSE: SBGL) has declared updated Group Mineral Resources and
Mineral Reserves, as at 31 December 2014.
Highlights:
- Gold Mineral Reserves at the Group operations increased by
2.1Moz or 12% to 19.9Moz, from 17.8Moz declared at December
2013, despite depletion of 1.7Moz in 2014
- Underground gold Mineral Reserves increased by 2.3Moz (14%),
net of depletion, following the successful conclusion of
feasibility studies on various organic growth projects at
the operations
- A maiden gold Mineral Resource of 8.9Moz has been declared
at the Burnstone project, following significant revision of
the available data and geological model
- Sibanye will continue to review recently acquired projects
in accordance with Group protocols and procedures and
assessing possible synergies which may exist with its
current operations
The 12% increase in declared gold Mineral Reserves at the Group’s
operations is primarily a result of an additional 1.7Moz of gold
Mineral Reserves being declared at the Kloof 4 and Driefontein 5
shafts, following the completion of pre-feasibility studies on
below infrastructure “drop-down projects”. Development of these
projects will substantially enhance the life of these key
operations. Definitive feasibility studies for these projects
are in progress and will be completed during 2015. An additional
1Moz from so-called “secondary reefs” and “white areas” were also
declared at the Kloof and Driefontein operations. Studies to
bring more of these Resources to account are ongoing.
Neal Froneman commented: “It is extremely pleasing to see our
operating strategy taking effect. Significant improvements in the
quality of mining and cost control at our operations in the last
two years, have facilitated a further increase in our Mineral
Reserve base at our key operations”.
Summary Gold Mineral Resources and Mineral Reserves as at 31
December 20141
Mineral Resources Mineral Reserves
31
31 Dec
31 Dec 2014 Dec 31 Dec 2014
2013
Gold 2013
Tons Grade Gold Gold Tons Grade Gold Gold
(Mt) (g/t) (Moz) (Moz) (Mt) (g/t) (Moz) (Moz)
Operations Operations
Beatrix UG 54.7 5.6 9.788 9.177 Beatrix UG 27.0 4.1 3.598 3.543
Cooke UG 95.6 5.4 16.475 18.987 Cooke UG 11.9 4.8 1.841 1.839
Driefontein UG 63.2 11.2 22.755 21.103 Driefontein UG 32.1 7.0 7.228 5.907
Kloof UG 60.7 14.9 29.106 30.132 Kloof UG 26.2 8.0 6.706 5.777
Surface 35.5 0.5 0.533 0.813 Surface 32.7 0.5 0.504 0.715
Operations
Operations Total 309.7 7.9 78.657 80.212 129.9 4.8 19.878 17.781
Total
Projects Projects
Beisa North2 14.8 3.4 1.619 1.546 Beisa North2
Bloemhoek3 28.3 4.7 4.297 14.000 Bloemhoek3 5.400
Burnstone 54.1 5.1 8.890 Burnstone
De Bron De Bron
28.3 4.4 4.022 10.900 17.4 3.7 2.088 3.100
Merriespruit4 Merriespruit4
Hakkies & Hakkies &
15.600
Robijn5 Robijn5
WRTRP 709.0 0.3 6.459 6.475 WRTRP 709.0 0.3 6.459 6.422
Projects Total 834.5 0.9 25.287 48.521 Projects Total 726.4 0.4 8.547 14.922
Grand Total Grand Total
128.73
Underground & 1144.2 2.8 103.944 Underground & 856.3 1.0 28.425 32.703
3
Surface Surface
1. Refer to tables at the end of the release for detailed Mineral Resource and Reserve
classifications.
2. The 2013 Mineral Resource at Beisa North is based on a Technical Report National
Instrument 43-101 Technical Report, in accordance with Form 43-101F1 on behalf of Wits
Gold, as compiled by ExplorMine Consultants on 30 June 2009. The Competent Persons who
prepared the statement were Andre Deiss BSc (Hons), Pr.Sci.Nat (Consulting Geologist),
and Bill Northrop BSc (Hons), MSc, PhD, GDE, Pr.Sci.Nat., FGSSA, FSAIMM (Consulting
Geostatistician) and Garth Mitchell BSc (Hons), BCom, Pr.Sci.Nat., MSAIMM, MGSSA
(Consulting Geologist). A U3O8 cut-off of 50cm.kg/t has been applied to determine
the Mineral Resources.
3. The 2013 Bloemhoek project Mineral Resources and Mineral Reserves are based on a
Technical Report National Instrument 43-101 Technical Report, in accordance with Form
43-101F1 on behalf of Wits Gold, compiled by Turnberry Projects (Pty) Ltd in September
2009. The Qualified Persons (QP) for the preparation of this Pre-Feasibility Study
report are Gordon Cunningham and Timothy Spindler. The total gold Mineral Resources
and Mineral Reserves at these projects was determined at a cut-off of 300cm.g/t.
4. The Competent Person designated in terms of SAMREC, who takes responsibility for the
reporting of the De Bron Merriespruit Project Mineral Reserves as at 20 August 2013,
is Mr. JHK Hudson, Principal Engineer employed by Royal HaskoningDHV. The Competent
Person designated in terms of SAMREC, who takes responsibility for the reporting of
the De Bron Merriespruit Project gold Mineral Resources as at 20 August 2013, is Mr. G
Gilchrist, BSc (Hons) Geology, MGSSA, Pr.Sci.Nat. The total gold Mineral Resources
and Mineral Reserves at these projects were determined at a cut-off of 300cm.g/t.
This Mineral Resource and Mineral Reserve statement was declared by Wits Gold and was
deemed compliant with the SAMREC Code.
5. The Competent Person designated in terms of SAMREC, who takes responsibility for the
reporting of the 2013 Hakkies and Robijn Projects Mineral Resources as at 6 September
2013, is Mr. M Burnett, Principal Consultant at Snowden. The total gold Mineral
Resource at these projects were determined at a cut-off of 300cm.g/t. This Mineral
Resource and Mineral Reserve statement as declared by Wits Gold, was deemed compliant
with the SAMREC Code.
Summary uranium Mineral Resources and Mineral Reserves as at 31
December 20141
Mineral Resources Mineral Reserves
31 Dec 31 Dec
31 Dec 2014 31 Dec 2014
2013 2013
Uranium Uranium
Tons Grade U3O8 U3O8 Tons Grade U3O8 U3O8
(Mt) (kg/t) (Mlb) (Mlb) (Mt) (kg/t) (Mlb) (Mlb)
Operations Operations
Beatrix (Beisa) 11.4 1.074 26.968 25.658 Beatrix (Beisa)
Cooke 53.9 0.559 66.385 50.861 Cooke 4.6 0.378 3.827 5.416
Operations Total 65.2 0.649 93.353 76.519 Operations Total 4.6 0.378 3.827 5.416
Projects Projects
Beisa North 14.8 1.084 35.373 47.840 Beisa North
Bloemhoek 20.900 Bloemhoek
De Bron De Bron
12.800
Merriespruit Merriespruit
Hakkies & Robijn 26.300 Hakkies & Robijn
WRTRP 700.8 0.064 98.653 97.931 WRTRP 700.8 0.064 98.653 97.411
Projects Total 715.6 0.085 134.026 205.771 Projects Total 700.8 0.064 98.653 97.411
Grand Total Grand Total
Underground & 780.8 0.132 227.379 282.290 Underground & 705.4 0.066 102.480 102.827
Surface Surface
1 Refer to tables at the end of the release for detailed Mineral Resource and Reserve
classifications.
2 Refer to previous table for details of the 31 December 2013 declaration for the Wits Gold
acquisition projects
Projects
A maiden gold Mineral Resource of 54.1Mt at an average grade of
5.1g/t (8.9Moz) at the recently acquired Burnstone project has
been declared. The geological model at the Burnstone project has
been significantly revised after extensive re-logging of existing
surface boreholes, combined with additional information from
infill drilling and a thorough review of all data. The revised
geological model is consistent with the characteristics of
similar orebodies in the East Rand Basin, affording greater
confidence in the interpretation and underpinning the gold
Mineral Resource estimate.
Mineral Resources and Mineral Reserves at the Company’s West Rand
Tailings Retreatment Project (“WRTRP”) remain largely unchanged
year-on-year. This project is currently the subject of a
definitive feasibility study that will be completed during the
March 2015 quarter.
Since acquiring Witwatersrand Consolidated Gold Resources Limited
(“Wits Gold”) in May 2014, Sibanye has thoroughly reviewed the
geological and life of mine models of the De-Bron Merriespruit,
Bloemhoek, Beisa North and Hakkies and Robijn projects in the
Southern Free State and re-estimated the Mineral Resources, in
accordance with the Group’s protocols and procedures.
At the De-Bron Merriespruit project, the application of Sibanye’s
resource estimation protocols and procedures resulted in gold
Mineral Resources declining from 10.9Moz to 4.0Moz. Gold Mineral
Reserves also declined from 3.1Moz to 2.1Moz. The gold Mineral
Reserves for the De-Bron Merriespruit project were based on the
original feasibility study previously conducted by Royal
HaskoningDHV in 2013 and modified taking additional information
into account. During 2015, Sibanye intends undertaking a full
review of this feasibility study with a view to optimising any
potential synergies with the Beatrix Operations.
New geological models, incorporating borehole data from both Wits
Gold and Beatrix, has resulted in an updated geological model for
the Bloemhoek project. Together with the application of
Sibanye’s more conservative Resource estimation protocols and
higher cut-off grades, this has resulted in gold Mineral
Resources decreasing from 14.0Moz to 4.3Moz. The Group is
reviewing the economic viability of accessing part of the
Bloemhoek Resource through the existing Beatrix underground
infrastructure. No gold Mineral Reserves will be declared on the
Bloemhoek project until these studies have been completed.
Sibanye also successfully commenced with uranium production at
its Cooke Operation during 2014. The additional information
derived during mining, combined with revised uranium Mineral
Resource estimates resulted in uranium Mineral Resources and
Reserves increasing at the Cooke 1 to 3 operations. At Cooke 4,
uranium Mineral Reserves were negatively impacted due to a
reduction in ore reserve development arising from the Section 189
process. This will be reconsidered subject to ongoing operational
profitability.
The uranium Mineral Resources contained at Beatrix’s Beisa
project increased marginally to 27.0Mlb. The application of
Sibanye’s Mineral Resource estimation and declaration protocols
resulted in a decrease in the uranium Mineral Resource at Beisa
North from 47.8Mlb to 35.4Mlb.
Detailed gold Mineral Resources and Mineral Reserves as at 31
December 2014
Mineral Resources Mineral Reserves
Gold 31
Gold 31
31 Dec 2014 31 Dec 2014
Dec Dec
2013 2013
Tons Grade Gold Gold Tons Grade Gold Gold
(Mt) (g/t) (Moz) (Moz) (Mt) (g/t) (Moz) (Moz)
Operations Operations
Beatrix UG Beatrix UG
Measured AI 18.5 6.4 3.792 3.092 Proved AI 13.0 4.1 1.706 1.836
Indicated AI 32.0 5.2 5.332 4.399 Probable AI 14.0 4.2 1.892 1.706
Inferred AI 0.0 3.3 0.004 0.566
Total AI 50.5 5.6 9.128 8.058 Total AI 27.0 4.1 3.598 3.543
Indicated BI 4.2 4.9 0.660 1.119 Probable BI
Beatrix - Total Beatrix - Total
54.7 5.6 9.788 9.177 27.0 4.1 3.598 3.543
Underground Underground
Driefontein UG Driefontein UG
Measured AI 21.5 11.9 8.229 7.542 Proved AI 12.1 7.0 2.716 2.467
Indicated AI 10.5 12.1 4.088 3.351 Probable AI 14.4 7.3 3.387 3.440
Inferred AI 1.1 16.0 0.550 0.315
Total AI 33.1 12.1 12.867 11.208 Total AI 26.6 7.1 6.103 5.907
Indicated BI 29.5 10.2 9.684 9.694 Probable BI 5.5 6.3 1.126
Inferred BI 0.7 9.4 0.204 0.201
Total BI 30.1 10.2 9.888 9.895 Total BI 5.5 6.3 1.126
Driefontein-Total Driefontein-Total
63.2 11.2 22.755 21.103 32.1 7.0 7.228 5.907
Underground Underground
Kloof UG Kloof UG
Measured AI 20.7 14.5 9.618 8.636 Proved AI 11.3 8.1 2.932 3.599
Indicated AI 1.9 12.6 0.775 2.232 Probable AI 12.8 7.9 3.243 2.178
Total AI 22.6 14.3 10.393 10.868 Total AI 24.1 8.0 6.175 5.777
Indicated BI 19.2 13.8 8.538 8.983 Probable BI 2.1 7.9 0.532
Inferred BI 19.0 16.7 10.175 10.281
Total BI 38.1 15.3 18.713 19.264 Total BI 2.1 7.9 0.532
Kloof - Total Kloof - Total
60.7 14.9 29.106 30.132 26.2 8.0 6.706 5.777
Underground Underground
Cooke 1, 2 & 3 UG Cooke 1, 2 & 3 UG
Measured AI 6.5 10.8 2.243 5.772 Proved AI 6.4 5.0 1.035 0.830
Indicated AI 26.9 6.9 5.991 3.529 Probable AI 0.7 5.6 0.122 0.380
Inferred AI 6.0 5.7 1.101 1.900
Total AI 39.4 7.4 9.334 11.202 Total AI 7.1 5.1 1.157 1.210
Indicated BI 40.7 3.1 3.998
Cooke 1, 2 & 3 - Cooke 1, 2 & 3 -
80.1 5.2 13.332 11.202 7.1 5.1 1.157 1.210
Total Underground Total Underground
Cooke 4 UG Cooke 4 UG
Measured AI 0.2 5.5 0.029 0.411 Proved AI 3.7 4.3 0.520 0.132
Indicated AI 12.7 6.3 2.572 3.804 Probable AI 1.1 4.5 0.164 0.497
Inferred AI 2.6 6.4 0.542 3.570
Cooke 4 - Total Cooke 4 - Total
15.5 6.3 3.142 7.785 4.9 4.4 0.685 0.629
Underground Underground
Operations - Total Operations - Total
274.2 8.9 78.124 79.398 97.2 6.2 19.374 17.065
Underground Underground
Surface Rock Dumps (SRD) and Tailings Storage Surface Rock Dumps (SRD) and Tailings Storage
Facilities (TSF) Facilities (TSF
Beatrix 6.2 0.4 0.071 0.088
6.2 0.4 0.071 0.134 Beatrix (Probable)
(Indicated)
Randfontein Randfontein 7.3 0.4 0.086 0.190
7.3 0.4 0.086 0.200
Surface (Measured) Surface (Proved)
Randfontein 2.2 0.4 0.028 0.040
Randfontein
Surface 2.2 0.4 0.028 0.072
Surface (Probable)
(Indicated)
Randfontein
0.011
Surface (Inferred)
Driefontein Driefontein 6.8 0.6 0.125 0.150
6.8 0.6 0.125 0.150
(Indicated) (Probable)
10.3 0.6 0.194 0.246
Kloof (Indicated) 13.1 0.5 0.223 0.246 Kloof (Probable)
Operations - Total Operations - Total 32.7 0.5 0.504 0.715
35.5 0.5 0.533 0.813
Surface Surface
UG projects UG projects
Beisa North Beisa North
Indicated 14.8 3.4 1.619 1.546
Beisa North Total 14.8 3.4 1.619 1.546 Beisa North Total
Bloemhoek Bloemhoek
Indicated 27.4 4.7 4.163 10.600 Probable 5.400
Inferred 0.9 4.9 0.135 3.400
Bloemhoek Total 28.3 4.7 4.297 14.000 Bloemhoek Total 5.400
Burnstone Burnstone
Indicated 25.4 5.3 4.350
Inferred 28.7 4.9 4.540
Burnstone Total 54.1 5.1 8.890 Burnstone Total
De Bron De Bron
Merriespruit Merriespruit
Indicated 23.0 4.5 3.307 7.500 Probable 17.4 3.7 2.088 3.100
Inferred 5.3 4.2 0.715 3.400
De Bron De Bron
28.3 4.4 4.022 10.900 17.4 3.7 2.088 3.100
Merriespruit Total Merriespruit Total
Hakkies & Robijn Hakkies & Robijn
Indicated 5.400
Inferred 10.200
Hakkies & Robijn Hakkies & Robijn
15.600
Total Total
Projects - Total Projects - Total
125.5 4.7 18.828 42.046 17.4 3.7 2.088 8.500
Underground Underground
Surface Surface
projects projectsw
WRTRP WRTRP
Measured 656.7 0.3 5.935 5.951 Proved
Indicated 52.3 0.3 0.524 0.524 Probable 709.0 0.3 6.459 6.422
Projects - Total Projects - Total
709.0 0.3 6.459 6.475 709.0 0.3 6.459 6.422
Surface Surface
Projects Total 834.5 0.9 25.287 48.521 Projects Total 726.4 0.4 8.547 14.922
Grand Total Grand Total
103.94 128.73
Underground & 1144.2 2.8 Underground & 856.3 1.0 28.425 32.702
4 3
Surface Surface
Rounding-off of figures may result in minor computational discrepancies, where this happens it
is not deemed material
Cut-off grades have been calculated in accordance with the SEC guidelines and approximate the
historical two to three-year average commodity prices. A Mineral Reserve gold price of R420
000/kg, and a Mineral Reserve uranium long-term/contract price of R1,110/kg has been used.
The Mineral Resources of the commodities were declared at a premium of ten percent over the
Mineral Reserve metal price.
Uranium Mineral Resources and Mineral Reserves summary as at 31
December 2014
Mineral Resources Mineral Reserves
31 Dec 31 Dec
31 Dec 2014 31 Dec 2014
2013 2013
Uranium Uranium
Tons Grade U3O8 U3O8 Tons Grade U3O8 U3O8
(Mt) (kg/t) (Mlb) (Mlb) (Mt) (kg/t) (Mlb) (Mlb)
Operations Operations
Beatrix UG Beatrix UG
Measured AI 3.6 1.086 8.548 Proved AI
Indicated AI 7.8 1.069 18.330 13.867 Probable AI
Inferred AI 0.0 1.101 0.090 11.791
Beatrix - Total Beatrix - Total
11.4 1.074 26.968 25.658
Underground Underground
Cooke 1, 2 & 3 UG Cooke 1, 2 & 3 UG
Measured AI 2.2 0.512 2.457 17.828 Proved AI 2.6 0.322 1.814 0.920
Indicated AI 7.5 0.598 9.871 10.755 Probable AI 0.2 0.408 0.187 0.930
Inferred AI 2.203
Total AI 9.7 0.579 12.328 30.785 Total AI 2.8 0.329 2.001 1.850
Indicated BI 35.9 0.555 43.984
Cooke 1, 2 & 3 - Cooke 1, 2 & 3 -
45.6 0.560 56.312 30.785 2.8 0.329 2.001 1.850
Total Underground Total Underground
Cooke 4 UG Cooke 4 UG
Measured AI 0.2 0.398 0.143 4.174 Proved AI 1.5 0.475 1.574 1.209
Indicated AI 7.0 0.600 9.213 6.211 Probable AI 0.3 0.345 0.252 2.357
Inferred AI 1.1 0.288 0.717 9.691
Cooke 4 - Total Cooke 4 - Total
8.3 0.553 10.073 20.075 1.8 0.452 1.826 3.566
Underground Underground
Operations - Total Operations - Total
65.2 0.649 93.353 76.519 4.6 0.378 3.827 5.416
Underground Underground
UG projects UG projects
Beisa North Beisa North
Inferred 14.8 1.084 35.373 47.840
Beisa North Total 14.8 1.084 35.373 47.840 Beisa North Total
Bloemhoek Bloemhoek
Inferred 20.900
Bloemhoek Total 20.900 Bloemhoek Total
De Bron De Bron
Merriespruit Merriespruit
Indicated 8.200
Inferred 4.600
De Bron De Bron
12.800
Merriespruit Total Merriespruit Total
Hakkies & Robijn Hakkies & Robijn
Inferred 26.300
Hakkies & Robijn Hakkies & Robijn
26.300
Total Total
Projects - Total 107.84 Projects - Total
14.8 1.084 35.373
Underground 0 Underground
Surface Surface
projects projects
WRTRP WRTRP
Measured 648.5 0.062 88.717 87.995 Proved 44.320
Indicated 52.3 0.086 9.936 9.936 Probable 700.8 0.064 98.653 53.091
Projects - Total Projects - Total
700.8 0.064 98.653 97.931 700.8 0.064 98.653 97.411
Surface Surface
134.02 205.77
Projects Total 715.6 0.085 Projects Total 700.8 0.064 98.653 97.411
6 1
Grand Total Grand Total
227.37 282.29 102.48 102.82
Underground & 780.8 0.132 Underground & 705.4 0.066
9 0 0 7
Surface Surface
Rounding-off of figures may result in minor computational discrepancies, where this happens it
is not deemed significant
Cut-off grades have been calculated in accordance with the SEC guidelines and approximate the
historical two to three-year average commodity prices. A Mineral Reserve gold price of R420
000/kg, and a Mineral Reserve uranium long-term/contract price of R1,110/kg has been used.
The Mineral Resources of the commodities were declared at a premium of ten percent over the
Mineral Reserve metal price.
Reconciliation of Gold Mineral Reserves (only for gold which is
the main commodity)
Gold (Moz)
Gold Mineral Reserves as at 31 December 2013 32.702
2014 depletion (1.723)
Gold Mineral Reserves post depletion 30.979
Changes in geology structure (0.018)
Changes in Mineral Resource estimation models 0.806
Specific Inclusions:
- Secondary reefs 0.587
- White areas 0.391
- Driefontein 5 Shaft Decline Project 1.126
- Kloof 4 Shaft Decline Project 0.532
- Deposition to WRTRP 0.037
Specific exclusions:
- Bloemhoek excluded (5.400)
- De Bron Merriespruit mining volume (1.012)
- Surface areas excluded due to becoming (0.051)
uneconomic
Technical Factors 0.448
Gold Mineral Reserves at 31 December 2014 28.425
Corporate governance
Sibanye Gold reports its Mineral Resources and Mineral Reserves
in accordance with the SAMREC Code, the updated Section 12 (Oct
2008) of the Johannesburg Stock Exchange (JSE) listing
requirements and the Securities and Exchange Commission (SEC)
Industry Guide 7 and is aligned to the guiding principles of the
Sarbanes-Oxley (SOX) Act of 2002. Guided by the commitment to
corporate governance, the statement has been independently
reviewed by CJM Consulting (Pty) Ltd (Mineral Resources) and by
Royal HaskoningDHV (Mineral Reserves), and has been found to be
compliant with the relevant codes. No material shortcomings were
identified of the processes by which the Sibanye Gold Mineral
Resources and Mineral Reserves were evaluated.
The Mineral Resources and Mineral Reserves are estimates at a
point in time, and will be affected by fluctuations in the gold
price, US dollar currency exchange rates, operating costs, mining
permits, changes in legislation and operating factors. Although
all permits may not be finalised and in place at the time of
reporting, there is no reason to expect that these will not be
granted. However, the length of the approval process for such
permits may have an impact on the schedules stated.
All statement figures are managed, and Mineral Resources are
reported inclusive of Mineral Reserves, while production volumes
are reported in metric tons (t). Gold and uranium are reported
separately, therefore no gold equivalents are stated to avoid
potential anomalies because of year-on-year metal price
differentials. All financial models used to determine the Mineral
Reserves are based on current tax regulations at 31 December
2014.
The lead Competent Person designated in terms of SAMREC, who take
responsibility for the consolidation and reporting of Sibanye
Gold’s Mineral Resources and Mineral Reserves and of the overall
regulatory compliance of these figures is Mr. Gerhard Janse van
Vuuren, who gave his consent for the disclosure of the C2015
Mineral Resource and Mineral Reserve Statement. Mr Janse van
Vuuren [BTech (MRM), GDE (Mining Eng.), MBA and MSCoC] is
registered with Plato (PMS No 243) and has 27 years’ experience
relative to the type and style of mineral deposit under
consideration. He is the current Vice President: Mine Planning
and Mineral Resource Management and is a full time employee of
Sibanye Gold.
The respective business unit based Mineral Resource Managers,
relevant project managers and the respective Mineral Resource
Management discipline heads have been designated as the Competent
Persons in terms of SAMREC and take responsibility for the
reporting of Mineral Resources and Mineral Reserves for their
respective area(s) of responsibility. Additional information
regarding these personnel, as well as the teams involved with the
compilation of the Mineral Resource and Mineral Reserve
declaration is incorporated in the Mineral Resources and Mineral
Reserves Supplement that will be published in conjunction with
the 2014 Sibanye Gold Integrated Report.
ENDS
Contact
James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za
Sponsor
Sponsor: J.P. Morgan Equities South Africa Proprietary Ltd
FORWARD LOOKING STATEMENTS
Certain statements in this document constitute “forward looking statements” within
the meaning of Section 27A of the US Securities Act of 1933 and Section 21E of the
US Securities Exchange Act of 1934.
These forward-looking statements, including, among others, those relating to
Sibanye’s future business prospects, revenues and income, wherever they may
occur in this document and the exhibits to this document, are necessarily estimates
reflecting the best judgment of the senior management of Sibanye and involve a
number of known and unknown risks and uncertainties that could cause actual
results, performance or achievements of the Group to differ materially from those
suggested by the forward-looking statements. As a consequence, these forward
looking statements should be considered in light of various important factors,
including those set forth in this document. Important factors that could cause the
actual results to differ materially from estimates or projections contained in the
forward looking statements include without limitation: economic, business, political
and social conditions in South Africa and elsewhere; changes in assumptions
underlying Sibanye’s estimation of its current mineral reserves and resources; the
ability to achieve anticipated efficiencies and other cost savings in connection with
past and future acquisitions as well as existing operations; the success of exploration
and development activities; changes in the market price of gold and/or uranium;
the occurrence of hazards associated with underground and surface gold and
uranium mining; the occurrence of labour disruptions and industrial action; the
availability, terms and deployment of capital or credit; changes in government
regulations, particularly environmental regulations and new legislation affecting
water, mining and mineral rights; the outcome and consequence of any potential or
pending litigation or regulatory proceedings or other environmental, health and
safety issues; power disruptions and cost increases; fluctuations in exchange rates,
currency devaluations, inflation and other macro-economic factors; the occurrence
of temporary stoppages of mines for safety incidents and unplanned maintenance
reasons; Sibanye’s ability to hire and retain senior management or sufficient
technically skilled employees, as well as its ability to attract sufficient historically
disadvantaged South Africans representation in its management positions; failure of
Sibanye’s information technology and communications systems; the adequacy of
Sibanye’s insurance coverage; any social unrest, sickness or natural or man-made
disaster at informal settlements in the vicinity of some of Sibanye’s operations; and
the impact of HIV, tuberculosis and other contagious diseases. These forward looking
statements speak only as of the date of this document.
The Group undertakes no obligation to update publicly or release any revisions to
these forward looking statements to reflect events or circumstances after the date
of this document or to reflect the occurrence of unanticipated events.
Date: 05/02/2015 02:51:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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