Wrap Text
Management re-organisation
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”)
MANAGEMENT RE-ORGANISATION FOR MULTI-COMMODITY OPERATIONS
Westonaria, 18 April 2016: Sibanye (JSE: SGL & NYSE: SBGL) is
pleased to advise stakeholders that it has revised and is
implementing its organisational structures in order to ensure
that it is optimally positioned for its entry into the PGM mining
sector in 2016.
In order to ensure the sustained focus on safe, cost-effective
delivery of production from its underground mining and surface
processing operations as it becomes a multi-commodity business,
Sibanye will be re-structured into separate, commodity specific
divisions focused on operational delivery. Sibanye’s Group
Services functions will provide all non-core, production support
services required by the different Commodity Operating Divisions,
thereby eliminating duplication of support services. The re-
organisation will ensure that there is minimal disruption to
operating activities and provides that our experienced operations
management are positioned closer to the mining face, with the aim
of promoting operational effectiveness.
Wayne Robinson has been appointed as the Chief Executive Officer
(CEO) of the Gold and Uranium Division. The Gold and Uranium
Division executive management team supporting Wayne, will largely
be consistent with Sibanye’s current gold operational management.
Adam Mutshinya will continue in his role as Senior Vice
President: Human Capital, with Pieter Henning, formerly Vice
President: Corporate Finance appointed as Senior Vice President:
Finance for the division. William Osae, formerly Vice President
of Driefontein Underground Operations, has been promoted to
Senior Vice President: Technical Services in the division.
”I have every confidence that the Gold and Uranium Division’s
executive management team will provide the effective leadership
needed to maintain the current operational focus and maintain the
momentum at the Gold and Uranium operations. I have no doubt
that they will continue to deliver the excellent safety and
operating results which underpin Sibanye’s strong cash flow
generation on a sustainable basis.” Neal Froneman, CEO of
Sibanye, said.
The Platinum Division executive management team will have a
similar executive structure. Jean Nel, previously CEO of Aquarius
Platinum Limited, has recently been appointed CEO of the Platinum
Division, with Bheki Khumalo appointed as Senior Vice President:
Human Capital and Peter Turner will assume the position of
Senior Vice President: Technical Services. This follows the
appointment of Justin Froneman in 2015 as Senior Vice President:
Finance and Shadwick Bessit, previously Senior Vice President:
Underground Operations, Kloof and Driefontein, as Senior Vice
President: Mining.
Jean acted as CEO of Aquarius from November 2012 until the
acquisition of Aquarius by Sibanye and prior to that had more
than 12 years’ experience providing corporate finance advice to
various mining and resources companies in South Africa. Bheki
obtained significant experience in the mining industry working
for: BHP Billiton Limited’s South African aluminium division and
Great Basin Gold Limited, the previous owner of the Burnstone
mine. Shadwick has extensive platinum mining experience from his
role as Executive Director of Operations at Impala Platinum
Limited from 2005 to 2010, and Justin gained significant
experience and insight into the platinum sector during his role
as a sell side analyst covering the sector for over 8 years. The
balance of the Platinum Division executive management is expected
to primarily consist of existing management from the Rustenburg
and Aquarius operations, with specific executive roles and
responsibilities to be finalised once the transactions have been
concluded. The combination will establish a leadership team
optimised for continuity, effective integration.
John Wallington has been appointed Executive Vice President of
the Energy and Coal Division and will drive Sibanye’s energy
strategy. John has more than 30 years’ experience in various
operational and corporate roles in the mining industry with a
specific focus on coal. He worked for Anglo American for more
than 25 years, ultimately leading the coal division for three
years. He has subsequently held a number of leadership positions
in the South African mining industry, including CEO of Coal of
Africa Limited and Miranda Mineral Holdings Limited before
joining Sibanye.
The Sibanye Group strategy will continue to be driven by a Group
executive committee, which will to be headed up by the CEO, Neal
Froneman. Existing Sibanye Prescribed Officers, Charl Keyter
(Chief Financial Officer), Dawie Mostert (Commercial Services),
Hartley Dikgale (Corporate Affairs), Richard Stewart (Business
Development) and Robert van Niekerk (Organisational
Effectiveness), together with the Divisional CEOs will comprise
the rest of the Group Executive Committee, with a Group
Executive: Human Capital portfolio expected to be appointed in
the near future. Sibanye’s Group Executive will be complemented
by members of the CEO’s Office, which will house key strategic
functions including Communications (Thabisile Phumo), Protection
Services (Nash Lutchman), Investor Relations (James Wellsted) and
Safety, Health and Environment, which is currently vacant but
will be filled in due course.
“The Sibanye Group Executive assembles an experienced array of
relevant mining industry experience, including strong technical
capacity to deliver the leadership required for Sibanye to
continue on its strategic path, and ensure delivery of superior
value to all stakeholders,” Neal Froneman commented.
Sibanye’s revised leadership structures have been established to
provide Sibanye with a seamless transition into a multi-commodity
business, in particular facilitating the effective integration of
the Rustenburg and Aquarius operations into a Platinum Division.
According to Neal Froneman; “The organisational arrangements will
provide for effective management of our operations, particularly
with regard to unit cost management, which is critical to
prolonging the economic lives of our gold, uranium and platinum
assets. We see these developments as central to realisation of
our vision, which remains, ‘superior value creation for all of
our stakeholders.’”
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: 18/04/2016 08:25:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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