Business In The News South Africa

Sibanye to begin consultations on possible retrenchment of 6,670 workers

JOHANNESBURG, February 14  – Sibanye-Stillwater said on Thursday that it would begin consultations with relevant stakeholders in terms of Section 189A of the Labour Relations Act regarding the possible restructuring of its gold operations which might affect more than 6,000 workers. The diversified miner said the restructuring process was as a result of ongoing financial losses experienced […]

Business In The News South Africa

Sibanye says 2018 gold production to be only marginally below guidance

JOHANNESBURG, January 10 – Gold producer Sibanye-Stillwater said on Thursday 2018 gold production at its South Africa operations was expected to be just marginally below guidance due in part to the successful implementation of measures to mitigate the impact of a strike. Members of the Association of Mineworkers and Construction Union (Amcu) downed tools last November […]

In The News South Africa

Situation tense at Sibanye mines after intimidation, destruction of property

JOHANNESBURG, November 28  – Sibanye-Stillwater said on Wednesday acts of violence were continuing at its South African gold operations due to an ongoing strike action, following a relatively peaceful weekend as worker attendance improved. Sibanye said the situation at the Beatrix and Driefontein operations, in particular, remained tense, with striking workers causing damage to company property […]

Business In The News South Africa

Competition Tribunal approves Sibanye’s R5billion takeover of Lonmin

JOHANNESBURG, November 22 – The Competition Tribunal, the regulatory body which provides final approval for large mergers in South Africa, on Wednesday approved the proposed acquisition of platinum group metals (PGMs) miner Lonmin Plc by Sibanye-Stillwater, subject to specific conditions. Last December, Sibanye offered R5.17 billion for Lonmin in a deal that would create the […]

In The News South Africa

Amcu’s Joseph Mathunjwa blasts Sibanye-Stillwater’s executives for rejecting wage demands

JOHANNESBURG, November 21 – As the Association of Mineworkers and Construction Union (Amcu) gears up for a strike at Sibanye-Stillwater at midnight Wednesday, the union’s president Joseph Mathunjwa has slammed the mine’s top executives for failing to pay workers what they demand when they are raking in millions of rand in executive pay. “South Africa […]