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SIBANYE GOLD LIMITED - Conclusion of S189 consultation process at the Marikana operations

Release Date: 16/01/2020 14:35
Code(s): SGL     PDF:  
 
Wrap Text
Conclusion of S189 consultation process at the Marikana 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”)


Conclusion of S189 consultation process at the Marikana operations

Johannesburg, 16 January 2020: Sibanye-Stillwater (Tickers JSE: SGL and
NYSE: SBGL) advises that the consultation process with relevant
stakeholders in terms of Section 189A (S189) of the Labour Relations Act,
66 of 1995 (LRA), regarding the proposed restructuring of its Marikana
operation and associated services (previously Lonmin), as previously
announced on 25 September 2019, has been concluded.

The outcome of the S189 process, following consultations with stakeholders,
is as follows:
• Shaft 1B and a specific Sweeping and vamping project will continue with
  limited mining, sweeping and reclamation, until the end of December 2020
  – resulting in the preservation of 329 jobs, provided that the projects
  continue to be profitable on a three-month average period
• Job losses were reduced by identifying approximately 166 opportunities
  for affected employees to be transferred to other operations
• Approximately 1,612 employees were granted Voluntary Separation Packages
  (VSPs), 53 employees proceeded on normal retirement and natural attrition
  accounted for 259 employees
• Approximately 1,142 employees were ultimately retrenched and contractors
  were reduced by ~1,709

Sibanye-Stillwater CEO, Neal Froneman commented: “We are pleased with the
outcome of the consultations with stakeholders, which despite the necessary
closure of some end of life shafts, resulted in the preservation of a
number of jobs. This will result in a more sustainable business which will
secure employment for the majority of the Marikana workforce for a much
longer period.”

Please refer to https://soundcloud.com/user-155552468/marikana-
restructuring-16jan2019 for a media sound clip by the spokesperson, James
Wellsted.

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


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FORWARD LOOKING STATEMENTS

The information in this announcement may contain forward-looking statements
within the meaning of the “safe harbour” provisions of the United States Private
Securities Litigation Reform Act of 1995. These forward-looking statements,
including, among others, those relating to Sibanye Gold Limited’s (trading as
Sibanye-Stillwater) (“Sibanye-Stillwater” or the “Group”) financial positions,
business strategies, plans and objectives of management for future operations,
are necessarily estimates reflecting the best judgment of the senior management
and directors of Sibanye-Stillwater.
All statements other than statements of historical facts included in this
announcement may be forward-looking statements. Forward-looking statements also
often use words such as “will”, “forecast”, “potential”, “estimate”, “expect”
and words of similar meaning. By their nature, forward-looking statements involve
risk and uncertainty because they relate to future events and circumstances and
should be considered in light of various important factors, including those set
forth in this disclaimer and in the Group’s Annual Integrated Report and Annual
Financial Report, published on 29 March 2019, and the Group’s Annual Report on
Form 20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission
on 5 April 2019 (SEC File no. 001-35785). Readers are cautioned not to place
undue reliance on such statements.
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.




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Date: 16-01-2020 02:35:00
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