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
Miner launches formal consultation process on marginal South African gold mine
South African gold producer Sibanye Gold has launched a consultation process on possible job cuts at the Beatrix West section in the Witwatersrand field of the Orange Free State.
The former Oryx mine has been losing 61kg of gold, equivalent to a loss of about R28M, each month since an underground fire in February.
Even before the fire, the mine was marginal and was kept operational in the hope that the situation would improve.
South African gold miner Sibanye Gold says its March quarter output will be cut by 12,646oz due to a two-day power outage at its Driefontein mine caused by a transformer fire at a regional Eskom substation.
The fire, caused by a lightning strike, affected power supply to a number of gold mines from Wednesday.
Sibanye says production resumed at Driefontein on Monday following the restoration of sufficient power to run the mine. Full steady state production is expected to be resumed this week.
New gold spinoff to complete complete business and strategy review within 6 months. John Feary reports
Sibanye Gold, the major South African gold producer spun off last month from world No 4 bullion producer Gold Fields, has signalled a strong drive to optimise free cash flow after revealing its first full year result, a 16% increase in headline earnings to R2.98B for the year to end December.
South Africa’s Sibanye Gold has resumed partial production at its Beatrix 4 shaft in the Witwatersrand Field, Orange Free State, after sealing-off a still-burning fire that forced the evacuation of the mine February 19.
Sibanye, which inherited the former Oryx gold mine in its spinoff from Gold Fields this month, says the 2,700sq m section of the Zone 5 production area in which the fire is burning has been isolated and sealed.
South Africa’s Sibanye Gold has suspended operations at its Beatrix 4 shaft following a fire that broke out in a raise line on the 20 Level late on Tuesday night.
Beatrix mine rescue teams successfully contained the affected areas and evacuated the entire mine by 7am Wednesday without injuries.
Management said it suspended all underground production at Beatrix 4 Shaft due to high levels of smoke and gas while the fire is brought under control and the full impact assessed.
The mining company chief who spent seven years under house arrest for political activism in South Africa’s apartheid era is
about to swap the resources sector for politics
Sibanye Gold, the company hived off from world No 4 bullion producer Gold Fields to hold two mines that were caught up in last year’s South African wave of industrial unrest, has made a quiet debut on the JSE.
Reuters reports Sibanye Gold opened Monday at R13.05, near the bottom end of market expectations.
Analysts had expected the shares to trade anywhere from R8 to R52.
Shares in Gold Fields fell nearly 12% to R94, a drop that roughly mirrored the value of the new entity.