Sibanye Gold Limited (Sibanye-Stillwater)
Sibanye Gold Limited (Sibanye-Stillwater)
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
Sibanye Gold is predicting a jump of ZAR40M to ZAR50M in annual profits at its Cooke 4 operations near Johannesburg after reaching agreement with unions on a restructure that increases operating shifts and reduces workforce numbers.
Sibanye reached agreement with unions to cut 392 of the 2,403 jobs at its 70,000oz pa Cooke 4 operation near Johannesburg, winning a pledge not to strike over wages in 2015 as the South African bullion miner tries to turn the mine's fortunes around.
The agreement was reached after Sibanye dropped its earlier push for 1,776 jobs to go and agreed to no forced lay-offs. The reductions will be primarily achieved through voluntary separation packages and early retirement. Reuters
South African precious metals mining companies Sibanye Gold and Northam Platinum are among a group of about 10 interested in Anglo American Platinum's Union mine in South Africa, Sibanye and mining industry sources said. Reuters
South African platinum sources are putting a high $200M-$300M expectation on Amplats’ union mine, despite a declining market
South Africa's National Union of Mineworkers says it signed a deal with Sibanye to avoid forced layoffs at its Cooke 4 gold mine near Johannesburg.
NUM spokesman Livhuwani Mammburuu says some workers at Cooke 4 will be offered voluntary severance or transfers to other operations. Sibanye officials could not immediately be reached for comment. Reuters
Gold Fields has set itself a target of cutting its debt by $US300M over the next two years, a move that would give it ample headroom for potential acquisitions.
Sibanye entered section 189 consultations with unions and stakeholders on the future of its recently acquired Cooke 4 gold mine near Johannesburg, South Africa.
The company says it needs to find sustainable solutions to deliver required productivity and profitability levels at the mine. The National Union of Mineworkers threatened strike action if cuts were made to the mine’s 2,500 workers. Reuters
Leading African gold producer AngloGold's proposed $US6-7B spin-off seeks safety in more diversified and stable international operations. Ed Stoddard and Silvia Antonioli report
AngloGold’s plan to spin off its non-South African assets in a new UK-based company mirrors moves by other miners to reduce exposure to South Africa and the risks of a volatile labour market, policy uncertainty and soaring costs.
It follows the BHP Billiton demerger announced last month and the spin-off by Gold Fields last year of its South African operations into Sibanye Gold. Reuters
Sibanye lifted operating profit for the six months to June 2014 (H1) to R3.5B, 4% higher than in H1 FY13 on the back of an 8% increase in gold production to 711,900oz and 10% improvement in operating costs to R815/ton.
All-in sustaining costs improved to $US1,071/oz (H1 FY13: $1,275/oz) and total cash cost to $848/oz ($983/oz), delivering an unchanged all-in cost margin of 17% despite a 2% lower gold price.