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SIBANYE GOLD LIMITED - Confirmation of notice by AMCU to commence with industrial action

Release Date: 04/04/2016 13:10
Code(s): SGL     PDF:  
Wrap Text
Confirmation of notice by AMCU to commence with industrial action

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”)

CONFIRMATION OF NOTICE BY AMCU TO COMMENCE WITH INDUSTRIAL ACTION
AT SIBANYE
Westonaria, 4 April 2016: Sibanye (JSE: SGL AND NYSE: SBGL)
wishes to advise shareholders that the Association of Mineworkers
and Construction Union (AMCU) has served the company with notice
to commence industrial action in respect of the 2015 wage
negotiations. In terms of the notice, AMCU members will embark on
protected industrial action from afternoon shift, Wednesday, 6
April 2016.

“The decision taken by the AMCU leadership is unfortunate,
particularly coming after such an extended period following
agreement on wages, which was reached with the three other
representative unions at Sibanye, in October 2015. In the
interest of a harmonious working environment and sustainable
operations, a decision was taken to implement the wage increases
to all employees, including AMCU members, retrospectively from
July 2015. We wish to advise that the wage increases implemented
in 2015 are final and the decision taken by the AMCU leadership
will not yield a different outcome”, said Sibanye CEO, Neal
Froneman.

“As management we are required to consider and protect the
interests of all stakeholders and we will ensure that the
viability and sustainability of our business is maintained. We
have developed robust plans to manage the potential impact of
strike action at our operations and will implement these plans
accordingly. We will also be working together with other relevant
stakeholders to ensure that the industrial action is conducted
peacefully, within the framework of the agreed strike rules and
in accordance with the law” concluded Froneman.


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 Limited

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