Directors: Sello Moloko* (Chairman) Neal Froneman (CEO) Charl Keyter (CFO) Savannah Danson* Robert Chan* Timothy Cumming*
Barry Davison* Rick Menell* Nkosemntu Nika* Keith Rayner* Sue van der Merwe* Jerry Vilakazi* Jiyu Yuan*
Cain Farrel (Corporate Secretary) (*Non-Executive)
www.sibanyegold.co.za
1
Sibanye Gold Limited
Reg. 2002/031431/06
Incorporated in the Republic of South Africa
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye Gold”, “Sibanye”, “the Company” and/or “the Group”)
Business Address:
Libanon Business Park
1 Hospital Street
(Off Cedar Ave)
Libanon, Westonaria, 1780
Postal Address:
Private Bag X5
Westonaria, 1780
Tel +27 11 278 9600
Fax +27 11 278 9863
MARKET RELEASE
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
Contact:
James Wellsted
SVP Investor Relations
+27 (0) 83 453 4014
james.wellsted@sibanyegold.co.za
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited