Wrap Text
Production at Sibanye’s Cooke Operations to resume following conclusion of unprotected strike
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”, “the Company” and/or “the Group”)
Production at Sibanye’s Cooke Operations to resume following conclusion of
unprotected strike and successful action against illegal mining
Westonaria, 30 June 2017: Sibanye’s Cooke Operations will resume production on
Monday, 3 July, following an unprotected strike which started on 6 June 2017. The
unprotected strike ensued after a prohibition on food being taken underground,
which had been agreed with the majority union, was implemented.
The ban on food being taken underground by employees, was aimed at preventing food
from being provided to illegal miners by employees, following signs of collusion.
Year to date, 77 employees have been arrested for assisting illegal miners. Since
the strike began, thus indirectly preventing food being taken underground, 472
illegal miners have surfaced from underground and have been arrested.
Following a Court interdict obtained by the company on 8 June 2017, disciplinary
measures were taken against striking employees. The employees were provided the
opportunity to appeal, a process presided over by an independent chairperson. The
outcome of the appeal resulted in the dismissal of 99 employees’ being uphold, 407
employees are placed on final warnings and forfeiting their salaries and a further
869 forfeiting annual leave, in order to compensate for non-productive shifts.
Approximately 300 kilograms of planned gold production, equivalent to about R160
million in revenue, was lost at the Cooke Operations during the strike.
“The arrest of 472 illegal miners at the Cooke Operations, which are not dormant,
but active, operating mines, indicates the extent of the illegal mining activities
and the risks that this growing criminal activity poses to our operations,
employees and communities. These operations have failed to meet production targets
for some time, with illegal mining and employee collusion likely to have played a
meaningful role in this underperformance. The Cooke Operations have been incurring
financial losses and have been under strategic review for some time. The
additional losses incurred, due to this strike, further impact on the economic
viability of these operations”, commented Wayne Robinson, CEO of Sibanye’s Gold
Division.
ENDS
Contact:
James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za
Sponsor: J.P. Morgan Equities South Africa Proprietary Ltd
Forward-looking statements
1
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Act of 1995. Forward-looking statements may be identified by the use of words such
as “target”, “will”, “forecast”, “expect”, “potential”, “intend”, “estimate”,
“anticipate”, “can” and other similar expressions that predict or indicate future
events or trends or that are not statements of historical matters. In this
announcement, for example, statements related to expected timings of the Rights
Offer, are forward-looking statements. The forward-looking statements set out in
this announcement involve a number of known and unknown risks, uncertainties and
other factors, many of which are difficult to predict and generally beyond the
control of Sibanye, that could cause Sibanye’s actual results and outcomes to be
materially different from historical results or from any future results expressed
or implied by such forward-looking statements. These forward-looking statements
speak only as of the date of this presentation. Sibanye 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 presentation or to reflect
the occurrence of unanticipated events, save as required by applicable law.
2
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