Wrap Text
Industrial action at Kroondal
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”)
INDUSTRIAL ACTION AT KROONDAL
Westonaria, 27 May 2016: Sibanye (JSE: SGL & NYSE: SBGL) wishes
to advise stakeholders that The Association of Mineworkers and
Construction Union (AMCU) has embarked on a strike from the
morning shift on Friday 27 May 2016.
AMCU notified the company of its intention to strike, based on a
strike certificate previously received from the Council for
Conciliation, Mediation and Arbitration (CCMA) on 25 January
2016, on a mutual interest dispute relating to the provision of
transport for employees.
A joint Kroondal/AMCU task team had been established after the
CCMA issued the strike certificate, in order to perform a
feasibility study and make final recommendations on the issue.
Prior to the completion of the feasibility study by the task
team, and following disagreement over the process which would be
followed, AMCU issued Kroondal management with a strike notice.
Jean Nel, CEO for Sibanye’s Platinum Division, commenting on the
strike said: “It is disappointing that AMCU have embarked on
unnecessary and potentially damaging strike action over an issue
which Sibanye is committed to resolving, especially given the
difficult economic conditions in the North West area. This
conduct does not serve the interest of any stakeholder. We are
committed to engaging with AMCU to resolve the impasse as soon as
possible”
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 and directors 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,
Zimbabwe 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 at existing operations; the ability of
Sibanye to successfully integrate acquired businesses and
operations (whether in the gold mining business or otherwise)
into its existing businesses; the success of Sibanye’s business
strategy, exploration and development activities; the ability of
Sibanye to comply with requirements that it operate in a
sustainable manner; changes in the market price of gold, platinum
group metals (“PGMs”) and/or uranium; the occurrence of hazards
associated with underground and surface gold, PGMs and uranium
mining; the occurrence of labour disruptions and industrial
action; the availability, terms and deployment of capital or
credit; changes in relevant government regulations, particularly
environmental, tax, health and safety regulations and new
legislation affecting water, mining, mineral rights and business
ownership, including any interpretations thereof which may be
subject to dispute; the outcome and consequence of any potential
or pending litigation or regulatory proceedings or other
environmental, health and safety issues; power disruptions,
constraints and cost increases; supply chain shortages and
increases in the price of production inputs; fluctuations in
exchange rates, currency devaluations, inflation and other macro-
economic monetary policies; the occurrence of temporary stoppages
of mines for safety incidents and unplanned maintenance;
Sibanye’s ability to hire and retain senior management or
sufficient technically skilled employees, as well as its ability
to achieve sufficient representation of historically
disadvantaged South Africans’ 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: 27/05/2016 02:36:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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