Wrap Text
Sibanye reports positive initial results from DMR Mining Charter audit
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 REPORTS POSITIVE INITIAL RESULTS FROM DMR MINING CHARTER
AUDIT
Westonaria, 31 March 2015: Sibanye Gold Limited (JSE: SGL & NYSE:
SBGL) is pleased to report that it has completed the Department
of Mineral Resources’ (DMR) web-based Mining Charter template.
After initial calibration and rounding off, all of Sibanye’s
operations have achieved top quartile scores for the three years
up to and including 2014. Sibanye’s operations therefore fall
into the “Excellent Performance” category as per the DMR’s
electronic based scorecard.
With regard to the black economic empowerment (BEE) ownership
component, Sibanye is confident that it exceeds the 26%
requirement and has received legal opinion which supports its
position.
“We welcome the collaborative approach adopted by the Department
of Mineral Resources (DMR) and that it has agreed with the mining
industry to approach the courts in order to achieve certainty on
the principle of continuing consequences, via a declaratory
order. We have made significant effort to ensure we are fully
compliant with the letter and more importantly, the spirit of the
Mining Charter, and I am pleased with what we have achieved and
look forward to further direct engagement with the DMR,” said
Neal Froneman, CEO of Sibanye.
“Sibanye makes a meaningful contribution to the South African
economy through its activities, and continues to be one of the
largest employers in the country. We have embraced transformation
and will continue to contribute to the development and upliftment
of our communities and employees. Moreover, there has been
meaningful and tangible value transferred to our BEE partners and
employees through equity ownership and employee share ownership
schemes. As a leading South African company we are committed to
investing for a sustainable future in the country, for the future
benefit of all of our stakeholders” concluded Froneman.
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: 31/03/2015 02:44:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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