Wrap Text
Sibanye-Stillwater receives notice for Secondary strike from AMCU
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 receives notice for Secondary strike from AMCU
Johannesburg, 15 January 2019. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL)
confirms that it has received notice from the Association of Mineworkers and
Construction Union (AMCU), that it intends to embark on a secondary, protected strike
at Sibanye-Stillwater’s South African Platinum Group Metals (PGM) operations, starting
from morning shift on Tuesday, 22 January 2019.
In terms of the Labour Relations Act (LRA), Act 66 of 1995, secondary strikes are
permissible in support of a protected strike, but within constrained parameters and
such strikes are not automatically lawful or reasonable and as such legal advice will
be sought. The secondary strike called by AMCU is in support of the ongoing strike at
the gold operations, which commenced on 21 November 2018.
Sibanye-Stillwater CEO Neal Froneman commenting on notification from AMCU said:
“Although not surprising, the notice for a secondary strike at our South African PGM
operations in Rustenburg is disappointing, as all stakeholders will be negatively
affected, but more so those employees who will be exposed to the no work, no pay
principle. Our South African PGM operations have been preparing for this outcome and
as such have strike contingency plans in place to minimize the possible impact of a
strike and our US PGM operations with their high exposure to a rampant palladium price
continue to provide welcome diversification and support through the strike. We reiterate
that the wage agreement we reached with the unions representing the majority of our
employees employed at our gold operations is fair and final and will not be amended by
AMCU’s demands or threats.”
Sibanye-Stillwater currently employs approximately 17,400 people at its SA PGM
operations, with AMCU representing approximately 56% of the employees at the Kroondal
operations and 71% of the Rustenburg operations’ employees.
Contacts:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the “safe harbour”
provisions of the United States Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this announcement may be forward-looking
statements. Forward-looking statements may be identified by the use of words such as “will”,
“would”, “expect”, “may”, “could” “believe”, “anticipate”, “target”, “estimate” and words of
similar meaning. These forward-looking statements, including among others, those relating to
our future business prospects, financial positions, ability to reduce debt leverage, business
strategies, plans and objectives of management for future operations and the anticipated benefits
and synergies of transactions, are necessarily estimates reflecting the best judgement of our
senior management. Readers are cautioned not to place undue reliance on such statements. Forward
looking statements 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. As a consequence, these forward-looking statements should be considered in light of
various important factors, including those set forth in the Group’s Annual Integrated Report
and Annual Financial Report, published on 30 March 2018, and the Group’s Annual Report on Form
20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 2 April 2018
(SEC File no. 001-35785). These forward-looking statements speak only as of the date of this
announcement. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or
revise these forward-looking statements, save as required by applicable law.
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