SIBANYE GOLD LIMITED - Sibanye commences consultation on restructuring to ensure sustainability of its gold operations

Sibanye commences consultation on restructuring to ensure sustainability of its gold 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”)

Sibanye commences consultation on restructuring to ensure sustainability of
its gold operations

Westonaria, 3 August 2017: Sibanye (Tickers JSE: SGL and NYSE: SBGL) advises
that it will enter into consultation with relevant stakeholders in terms of
section 189A (“Section 189A”) of the Labour Relations Act, 66 of 1995
("LRA"), regarding restructuring of its gold operations pursuant to ongoing
losses experienced at its Beatrix West and Cooke Operations. The initiation
of S189 consultations comes after numerous unsuccessful attempts to contain
losses at these operations.

Losses experienced at these operations negatively affect Group cash flow as
well as the sustainability and economic viability of other operations in the
Southern Africa region, in this way, posing a threat to more sustainable
employment across the region.

Since listing in 2013, Sibanye has steadily grown as an employer, from
37,700 employees four years ago, to becoming one of the largest employers in
the South African mining industry with 58,000 permanent employees.
Approximately 7,400 Sibanye employees at all levels may be affected as a
result   of  the   proposed   restructuring.    Through  the   Section   189A
consultations,   the  company   and   affected stakeholders   will   consider
alternatives to potential closure of the operations in an attempt to avoid
or reduce retrenchments.

Neal Froneman, Chief Executive Officer of Sibanye commented: “The decision
to commence with this restructuring process has not been taken lightly. The
long-term sustainability of the Group as a whole is our primary focus and is
necessary if we are to continue to deliver superior value to all of our
stakeholders. The losses experienced at the Beatrix West and Cooke
operations threaten the future of other Group operations and the employment
of many other South Africans. We are however aware of the difficult socio-
economic environment in South Africa, and will engage with all relevant
stakeholders in an effort to minimise job losses, while ensuring that
additional jobs are not placed at risk in future.”


Ends.

Investor Contact

James Wellsted
SVP Investor Relations
Sibanye Gold Limited
+27 83 453 4014
james.wellsted@sibanyegold.co.za

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Sponsor: J.P. Morgan Equities South Africa Proprietary Limited

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. 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
announcement. 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 announcement or to reflect the
occurrence of unanticipated events, save as required by applicable law.




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