SIBANYE GOLD LIMITED - Sibanye-Stillwater concludes the S189 process relating to the Cooke and Beatrix West operations

Sibanye-Stillwater concludes the S189 process relating to the Cooke and Beatrix West operations

Sibanye Gold Limited
Trading as Sibanye-Stillwater
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater” or “the Group” or “the Company”)


Sibanye-Stillwater concludes the S189 process relating to the Cooke and
Beatrix West operations

Johannesburg, 1 November 2017: Sibanye-Stillwater (Tickers JSE: SGL and
NYSE: SBGL) advises that it has concluded a consultation process with
relevant stakeholders in terms of section 189A (“Section 189A”) of the
Labour Relations Act, 66 of 1995 ("LRA"), under the auspices of the
Committee for Conciliation, Mediation and Arbitration (CCMA), regarding
the proposed restructuring of its gold operations and associated services
pursuant to ongoing losses experienced at its Cooke and Beatrix West
operations.

The outcome of the consultation is as follows:

-   Through the adoption of productivity enhancement and cost containment
    measures determined in consultation with stakeholders, Beatrix West will
    remain in operation for as long as it makes a profit, on average, over
    any continuous period of 3 months, after accounting for all-in
    sustaining costs.

-   Through these arrangements, Beatrix West will continue to provide
    employment for approximately 1,640 people. In the event that Beatrix
    West becomes loss making, both the underground operation and Beatrix 2
    Plant will be put on care and maintenance with immediate effect.

-   Unfortunately it was not possible to define realistic arrangements to
    operate Cooke 1,2 and 3 on a profitable basis. The underground mining
    operations at the Cooke 1, 2 and 3 shafts will therefore be placed on
    care and maintenance with effect from end October 2017.

-   The Cooke surface processing plant will continue to operate for as
    long as there is sufficient feed material for it to be profitable,
    subject to various cost cutting measures being implemented. Through
    these arrangements, 132 employees will be retained at these
    operations.

-   Through the S189 consultation process, Sibanye-Stillwater and its
    stakeholders have secure jobs for an additional 1,510 employees through
    transfers to available positions within the Group and as care and
    maintenance   personnel   for   the   Cooke   underground   operations.
    Approximately 2,025 employees will be retrenched with an additional
    1,350 having already elected to take voluntary separation packages.




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-   An additional 620 employees will replace contractors involved in non-
    critical activities across the Group. In total 3,601 contractors have
    been displaced.

Sibanye-Stillwater CEO, Neal Froneman commented: “The decision to
restructure was not taken lightly, but it is pleasing to note that we have
managed to ameliorate job losses through the consultation process. We
preserved employment for 3,282 people, while ensuring the sustainability
of our remaining operations and thereby securing over 60,000 jobs in South
Africa.”

Ends.

Investor relations contact:

James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Email: ir@sibanyestillwater.com

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, including the statements related to expected
production volumes. 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-Stillwater, that could cause Sibanye-
Stillwater’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-Stillwater 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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