Wrap Text
Sibanye-Stillwater extends the gold wage agreement to all employees
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”)
Sibanye-Stillwater extends the gold wage agreement to all employees in terms of Section
23(1)(d) of the Labour Relations Act
Johannesburg, 13 December 2018. Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL)
advises that it has extended the wage agreement which was reached with the National
Union of Mineworkers (“NUM”), UASA and Solidarity on 14 November 2018, to all employees
at its South African gold operations, in terms of Section 23(1)(d) of the Labour
Relations Act, No 66 of 1995 (“S23(1)(d)”).
During the course of the strike, which was called by the Association of Mineworkers and
Construction Union (“AMCU”) on 21 November 2018, the collective membership of the NUM,
UASA and Solidarity has increased to over 50% of the employees at the South African
gold operations. Under these circumstances, the Labour Relations Act provides for the
wage agreement to be extended to and bind all other employees to the collective
agreement. In this instance, all employees who are members of AMCU as well as those who
are not members of any trade union are bound by the collective agreement.
As a result of the extension of the wage agreement, the AMCU strike is no longer
protected and all employees are required to report for work. Employees have been notified
to report for work on Saturday, 15 December 2018.
The safety and wellness of our employees is our first priority and in line with our
CARES values, the immediate focus will be on ensuring that operations re-commence
safely.
For more information on all the announcements issued with regards to the strike at the
gold operations, please refer to https://www.sibanyestillwater.com/investors/news/2018-
gold-wage-negotiations.
Sibanye-Stillwater CEO, Neal Froneman said: “We are pleased that we have been able to
resolve this strike, which has been detrimental for all stakeholders. It is especially
gratifying that our employees have exercised their right to work and provide for their
families, by joining those unions which concluded a fair and reasonable wage agreement.
Their support for an agreement that takes the sustainability of the operations into
account while providing for wage increases well above inflation, especially for entry
level employees, is welcomed.
It is with sadness though, that we reflect on the consequences of the violence and
damage caused during this unnecessary strike, with families losing their breadwinners,
numerous instances of assault on employees, and ongoing financial hardship for
employees, local communities and small businesses which rely on the mines. In this
regard Sibanye-Stillwater will be considering all legal options to address violence
against the company and its employees. In particular Sibanye-Stillwater’s management
is mindful of the financial impact of this strike on our employees, and while the no
work no pay rule will apply, we are applying our minds on how to ameliorate the hardship
for our employees.”
Please refer to https://soundcloud.com/user-155552468/wage-agreement-extended-to-all-
employees for a media sound clip by the spokesperson, James Wellsted.
Contacts:
Email: ir@sibanyestillwater.com
James Wellsted
Head of Investor Relations
+27 (0) 83 453 4014
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
FORWARD LOOKING STATEMENTS
This announcement contains forward-looking statements within the meaning of the “safe harbour”
provisions of the United States Private Securities Litigation Reform Act of 1995. All statements
other than statements of historical fact included in this announcement may be forward-looking
statements. Forward-looking statements may be identified by the use of words such as “will”,
“would”, “expect”, “may”, “could” “believe”, “anticipate”, “target”, “estimate” and words of
similar meaning. These forward-looking statements, including among others, those relating to
our future business prospects, financial positions, ability to reduce debt leverage, business
strategies, plans and objectives of management for future operations and the anticipated benefits
and synergies of transactions, are necessarily estimates reflecting the best judgement of our
senior management. Readers are cautioned not to place undue reliance on such statements. Forward
looking statements involve a number of known and unknown risks, uncertainties and other factors,
many of which are difficult to predict and generally beyond the control of Sibanye-Stillwater
that could cause Sibanye-Stillwater’s actual results and outcomes to be materially different
from historical results or from any future results expressed or implied by such forward-looking
statements. As a consequence, these forward-looking statements should be considered in light of
various important factors, including those set forth in the Group’s Annual Integrated Report
and Annual Financial Report, published on 30 March 2018, and the Group’s Annual Report on Form
20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 2 April 2018
(SEC File no. 001-35785). These forward-looking statements speak only as of the date of this
announcement. Sibanye-Stillwater expressly disclaims any obligation or undertaking to update or
revise these forward-looking statements, save as required by applicable law.
This press release is for information purposes only and does not constitute or form part of an
offer to sell or the solicitation of an offer to buy or subscribe to any securities of Sibanye-
Stillwater. For the full set of results, please refer to
https://www.sibanyestillwater.com/investors/financial-reporting/operating-financial-
updates/2018. This press release should not be sent, distributed, transmitted or otherwise made
available in or into the United States or any other jurisdiction where it would be impermissible
to do so. The securities referred to herein have not been and will not be registered under the
United States Securities Act of 1933 (the "Securities Act") or with any securities regulatory
authority of any state or other jurisdiction of the United States and may not be offered, sold,
resold, transferred or delivered, directly or indirectly, in the United States except pursuant
to registration under, or an exemption from the registration requirements of, the Securities
Act. There will be no public offering of securities in the United States or any other
jurisdiction.
The securities have not been approved or disapproved by the US Securities and Exchange
Commission, and state securities commission in the United States or any other US regulatory
authority. Any representation to the contrary is a criminal offence in the United States.
Date: 13/12/2018 11:02:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
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