SIBANYE GOLD LIMITED - Sibanye enters Section 189 consultations on realising synergies at its platinum operations

Sibanye enters Section 189 consultations on realising synergies at its platinum operations

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 Group”)


SIBANYE ENTERS SECTION 189 CONSULTATIONS ON REALISING SYNERGIES AT ITS
PLATINUM OPERATIONS

Westonaria 26 January 2017: Sibanye (JSE: SGL & NYSE: SBGL) advises that
it will be entering into a consultation process at its Platinum
Operations, in terms of section 189A of the Labour Relations Act 66 of
1995.

This process could result in the retrenchment of approximately 330
employees, which remains well within the scope of the Competition
Tribunal’s ruling when it approved the acquisitions of Aquarius Platinum
Limited and the Rustenburg Operations in March 2016. A final decision
will   be   taken   following    consultation  with   organised   labour
representatives and relevant employees.

In 2016, Sibanye highlighted approximately R800 million in cost and
operational synergies that need to be realised between the Kroondal and
Rustenburg operations to ensure sustainability.

The reduction in replicated overhead costs and duplicate structures is a
critical first step in realising these synergies.

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

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: 26/01/2017 08:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.