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SIBANYE GOLD LIMITED - Two year wage agreement secured at Stillwater Operations

Release Date: 19/06/2017 08:02
Code(s): SGL     PDF:  
Wrap Text
Two year wage agreement secured at Stillwater 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” or “the Company” or “the Group”)

Two year wage agreement secured at Stillwater Operations

Westonaria, 19 June 2017: Sibanye (Tickers JSE: SGL and NYSE: SBGL)
is pleased to report that it has secured a two year wage agreement
with the United Steel Workers of America, International Union, the
representative union at its Stillwater Operations in Montana, USA.
Negotiations   with   the United   Steel    Workers   of   America,
International Union at East Boulder, will take place at year end.

In terms of the agreement there will be a 2% General wage increase
for all job categories effective from 2 June 2017 to 1 January
2018, with a further 1% increase effective from 1 January 2018 to
1 June 2018. A 2% annual increase will be in effect for the second
year of the agreement, from 2 June 2018 to 1 June 2019.


Neal Froneman, CEO of Sibanye commenting on the agreement said:
“We are very pleased to have secured this wage agreement soon after
having acquired the Stillwater Operations. We note and are
encouraged by the sensible and mature manner in which stakeholders
have engaged, to agree on a mutually favourable outcome for the
Company and employees. We look forward to similar engagement with
all of our stakeholders at the Stillwater Operations and are
optimistic about the important role these operations will play in
the future of the Sibanye Group.”

Ends.

Investor 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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Forward-looking statements

This announcement includes “forward-looking statements” within
the meaning of the “safe harbour” provisions of the United
States Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as “target”, “will”, “forecast”, “expect”, “potential”,
“intend”, “estimate”, “anticipate”, “can” and other similar
expressions that predict or indicate future events or trends or
that are not statements of historical matters. In this
announcement, for example, statements related to expected
timings of the Rights Offer, are forward-looking statements. The
forward-looking statements set out in this announcement involve
a number of known and unknown risks, uncertainties and other
factors, many of which are difficult to predict and generally
beyond the control of Sibanye, that could cause Sibanye’s actual
results and outcomes to be materially different from historical
results or from any future results expressed or implied by such
forward-looking statements. These forward-looking statements
speak only as of the date of this presentation. Sibanye
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 presentation or to
reflect the occurrence of unanticipated events, save as required
by applicable law.


Prospectus; No Offer or Solicitation
Sibanye has filed a registration statement (including a
prospectus) and a prospectus supplement with the Securities and
Exchange Commission (“SEC”) in respect of the Rights Offer.
Before you invest, you should read the prospectus in that
registration statement, the prospectus supplement and other
documents Sibanye will file and has filed with the SEC for more
complete information about Sibanye and the Rights Offer. You may
get these documents, when available, for free by visiting EDGAR
on the SEC web site at www.sec.gov or by visiting Sibanye’s
website at www.sibanyegold.co.za. Alternatively, Sibanye, any
underwriter or any dealer participating in the Rights Offer will
arrange to send you the registration statement, prospectus and
prospectus supplement, when available, if you request it by
calling toll-free (800) 322-2885 or by e-mailing
rightsoffer@mackenziepartners.com. This announcement is for
information purposes only and does not constitute (i) an offer
to sell, or a solicitation of offers to purchase or subscribe
for, securities in the United States or any other jurisdiction;




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or (ii) investment advice in any jurisdiction relating to the
securities discussed herein.




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