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Sibanye Gold Ltd (SGLJ.J)

SGLJ.J on Johannesburg Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Buildmax Says Unit Exercises Right To Terminate Agreement With Sibanye Stillwater
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Buildmax Ltd ::‍HAS EXERCISED ITS RIGHT TO TERMINATE ITS AGREEMENT WITH SIBANYE STILLWATER LIMITED.‍TERMINATES DEAL FOR MATERIALS HANDLING, CRUSHING, SCREENING AND TRANSPORTATION AT KLOOF IN WESTONARIA, WHICH COMMENCED IN JAN 2015​.TERMINATION PROCESS TO BE UNDERTAKEN IN RELATION TO AFFECTED EMPLOYEES; ANTICIPATED THAT DIESEL POWER WILL BE OFF SITE BY 15 MARCH 2018.  Full Article

Revised Sibanye-Stillwater Business Plan Could Affect A Further 890 Staff
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Lonmin Plc ::LONMIN TO PUBLISH ANNUAL FINANCIAL STATEMENTS IN JANUARY 2018- SIBANYE PRESENTANTION.SIBANYE SAYS EXPECTS COMPETITION CLEARANCE TO BE OBTAINED IN H2 2018.LONMIN SHAREHOLDER APPROVAL AND COURT MEETING EXPECTED IN H2 2018.SIBANYE-STILLWATER SHAREHOLDER APPROVAL EXPECTED IN H2 2018.LONMIN CEO SAYS BELIEVES OFFER IS IN THE BEST INTERESTS OF LONMIN, LONMIN SHAREHOLDERS AND OTHER STAKEHOLDERS.LONMIN CEO SAYS LONMIN CONTINUES TO BE HAMSTRUNG BY LIQUIDITY CONCERNS.SIBANYE-STILLWATER REVISED MINE PLAN SEES JOB CUTS OF APPROX 12,600 EMPLOYEES OVER THREE YEARS AS LONMIN GENERATION ONE SHAFTS REACH END OF LIFE.REVISED SIBANYE-STILLWATER BUSINESS PLAN COULD AFFECT A FURTHER 890 STAFF.  Full Article

Sibanye-Stillwater proposes to acquire Lonmin in deal valued at 285 mln pounds
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Sibanye-Stillwater ::‍PROPOSED ACQUISITION OF LONMIN BY SIBANYE-STILLWATER​.‍EXPECTS TRANSACTION TO BE NET ASSET VALUE ACCRETIVE ON CLOSING, EARNINGS AND CASH FLOW ACCRETIVE IN RESPECT OF SIBANYE-STILLWATER SHARES FROM 2021​.‍UNDER TERMS OF OFFER EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍OFFER VALUES EACH LONMIN SHARE AT 86.3 PENCE AND REPRESENTS PREMIUM OF ABOUT 35 PCT TO CLOSING PRICE PER LONMIN SHARE OF 63.8 PENCE ON 13 DEC 2017​.REALISED R550 MILLION/ANNUM IN ANNUALISED OPERATIONAL SYNERGIES AS AT 30 JUNE 2017, SEES R1 BILLION OF ANNUALISED SYNERGIES BY 2018​.‍IDENTIFIED EXPECTED TOTAL PRE-TAX RUN-RATE SYNERGIES OF APPROXIMATELY R1,500 MILLION BY 2021​.‍ESTIMATES IMPLEMENTATION OF OVERHEAD SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF R80 MILLION, HEADCOUNT REDUCTION OF ABOUT 700​.‍IMPLEMENTATION OF PROCESSING SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF APPROXIMATELY R1,000 MILLION​.‍ASIDE FROM ONE-OFF COSTS REFERRED, DOES NOT EXPECT ANY MATERIAL DIS-SYNERGIES TO ARISE IN CONNECTION WITH ACQUISITION​.LONMIN BELIEVES IF LOW PGM PRICES PERSIST, REGARDLESS OF ACQUISITION IMPLEMENTED, POTENTIALLY IN EXCESS OF 12,000 JOBS IN LONMIN WOULD BE AT RISK OVER NEXT 3 YRS.  Full Article

Sibanye-Stillwater and DRDGOLD to create surface mining partnership​
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Sibanye-stillwater ::‍SIBANYE-STILLWATER AND DRDGOLD TO CREATE SURFACE MINING PARTNERSHIP​.SIBANYE-STILLWATER - ‍SIBANYE-STILLWATER TO VEND SELECTED GOLD SURFACE PROCESSING ASSETS AND TAILINGS STORAGE FACILITIES FOR A 38% STAKE IN DRDGOLD​.SIBANYE-STILLWATER - ‍OPTION TO INCREASE EQUITY OWNERSHIP IN DRDGOLD TO 50.1% WITHIN 24 MONTHS​.SIBANYE-STILLWATER - RETAINS FULL OWNERSHIP OF COOKE AND EZULWINI PROCESSING PLANTS AND TAILINGS FACILITIES ENSURING FULL URANIUM OPTIONALITY​.SIBANYE-STILLWATER - ‍IMMEDIATE CRYSTALLISATION OF C.R1.3 BILLION OF VALUE FOR SELECTED ASSETS WHILE RETAINING LONG TERM EXPOSURE TO WEST RAND TAILINGS RETREATMENT PROJECT (WRTRP) ASSETS AND GROWTH IN DRDGOLD​.‍TRANSACTION IS EXPECTED TO CLOSE IN Q2 OF 2018 CALENDAR YEAR​.  Full Article

Sibanye-Stillwater signs 3-yr deal at Kroondal ops‍​
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Sibanye-Stillwater :SIBANYE-STILLWATER SIGNS THREE YEAR AGREEMENT AT ITS KROONDAL OPERATIONS‍​.SIGNED A THREE YEAR WAGE AGREEMENT WITH ALL THREE UNIONS AT ITS KROONDAL PGM OPERATIONS IN SOUTH AFRICA.AGREEMENT EFFECTIVE FROM JULY 1, INCLUDES R1,000/MONTH INCREASE YEAR ON YEAR FOR THE NEXT 3 YEARS FOR THE CATEGORY B EMPLOYEES.AGREEMENT INCLUDES CPI RELATED INCREASES FOR THE NEXT 3 YEARS FOR CATEGORY A EMPLOYEES.  Full Article

NUM and COSATU to march at Sibanye Gold Stillwater in Westonaria‍​‍​
Monday, 6 Nov 2017 

Nov 6 (Reuters) - South Africa's NUM::NUM AND COSATU TO MARCH AT SIBANYE GOLD STILLWATER IN WESTONARIA‍​‍​.MARCH COMES AFTER SIBANYE "SENT FORCED RETRENCHMENTS TERMINATION LETTERS TO MORE THAN 2 000 WORKERS AT COOKE 1 TO 3 LAST WEEK"​.  Full Article

Sibanye-Stillwater says PIC holds 10.826 pct stake in group
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Sibanye Gold Ltd (Trading as Sibanye-Stillwater) ::TOTAL INTEREST HELD BY ‍PUBLIC INVESTMENT CORPORATION LIMITED AMOUNTS TO 10.826 PCT OF TOTAL ISSUED SHARES OF COMPANY​.  Full Article

Sibanye-Stillwater reorganises Cooke & Beatrix West ops
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Sibanye-Stillwater::CONCLUDES THE S189 PROCESS RELATING TO THE COOKE AND BEATRIX WEST OPERATIONS.CONCLUDED CONSULTATION PROCESS WITH STAKEHOLDERS ON PROPOSED RESTRUCTURING OF ITS GOLD OPERATIONS AND ASSOCIATED SERVICES‍.UNDERGROUND MINING OPERATIONS AT COOKE 1, 2 AND 3 SHAFTS TO BE PLACED ON CARE AND MAINTENANCE WITH EFFECT FROM END OCTOBER 2017​.‍CONCLUDED CONSULTATION PROCESS WITH STAKEHOLDERS PURSUANT TO ONGOING LOSSES EXPERIENCED AT ITS COOKE AND BEATRIX WEST OPERATIONS​.‍BEATRIX WEST WILL CONTINUE TO PROVIDE EMPLOYMENT FOR APPROXIMATELY 1,640 PEOPLE​.‍IN TOTAL 3,601 CONTRACTORS HAVE BEEN DISPLACED​.- ‍IN EVENT BEATRIX WEST BECOMES LOSS MAKING, BOTH UNDERGROUND OPERATION AND BEATRIX 2 PLANT WILL BE PUT ON CARE AND MAINTENANCE.‍AN ADDITIONAL 620 EMPLOYEES WILL REPLACE CONTRACTORS INVOLVED IN NON- CRITICAL ACTIVITIES ACROSS GROUP​.‍APPROXIMATELY 2,025 EMPLOYEES WILL BE RETRENCHED WITH ADDITIONAL 1,350 HAVING ELECTED TO TAKE VOLUNTARY SEPARATION PACKAGES​.  Full Article

Sibanye-Stillwater quarterly operating profit rises‍​
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - SIBANYE-STILLWATER ::‍GROUP OPERATING PROFIT OF R2,859 MILLION (US$217 MILLION) WAS 41% HIGHER QUARTER-ON-QUARTER AND 5% HIGHER YEAR-ON-YEAR​.‍SA PGM PRODUCTION INCREASED BY 1% TO 306,184 4EOZ - RECORD QUARTERLY PRODUCTION FROM KROONDAL OPERATIONS​.‍FIRST PRODUCTION FROM BLITZ PROJECT, THREE MONTHS AHEAD OF SCHEDULE​.‍SEPT QUARTER SA GOLD PRODUCTION OF 11,576KG (372,177OZ) 4% HIGHER THAN FOR JUNE 2017 QUARTER​.SEPTEMBER 2017 QUARTER OPERATIONAL PERFORMANCE IS EXPECTED TO CONTINUE IN DECEMBER 2017 QUARTER.CAPITAL EXPENDITURE FROM SA PGM OPERATIONS WHICH WAS REVISED IS FORECAST HIGHER AT APPROXIMATELY R1,350 MILLION (US$100 MILLION).FROM SA PGM OPERATIONS, FY AISC IS EXPECTED TO BE BETWEEN R10,500/4EOZ AND R11,000/4EOZ (US$775/4EOZ AND US$815/4EOZ).‍TOTAL CAPEX FOR THE U.S. REGION FOR THE EIGHT MONTHS ENDING DEC 31 EXPECTED TO BE ABOUT $115 MILLION.FY PRODUCTION, COSTS FROM SA GOLD OPERATIONS IMPACTED BY ON CONSULTATION PROCESS OUTCOME.AISC FOR U.S. REGION IS FORECAST BETWEEN US$620/2EOZ AND US$650/2EOZ FOR 8 MONTHS ENDING DEC 31.PREVIOUS PRODUCTION GUIDANCE FOR US REGION REMAINS UNCHANGED FOR 8-MONTH ENDING DEC 31‍​.  Full Article

Sibanye-Stillwater sees headline loss per share at least 110 cents for year ended Dec 31
Wednesday, 25 Oct 2017 

Oct 25 (Reuters) - Sibanye-Stillwater: :SEES ATTRIBUTABLE LOSS OF AT LEAST R4.6 BILLION (US$350 MILLION) FOR YEAR ENDING DEC. 31, 2017, COMPARED WITH ATTRIBUTABLE EARNINGS OF R3.7 BILLION (US$252 MILLION) YEAR AGO.SEES LOSS PER SHARE OF AT LEAST 235 CENTS (18 US CENTS) FOR YEAR ENDED DEC. 31, AND HEADLINE LOSS PER SHARE AT LEAST 110 CENTS (8 US CENTS).  Full Article

South African gold miners near silicosis lawsuit settlement

JOHANNESBURG, Jan 10 The class action brought by thousands of mineworkers who contracted lung diseases while working for South African gold miners has been postponed because the parties are close to a settlement, lawyers for the companies said on Wednesday.