Business In The News South Africa

Sibanye inches closer to completing R5 bln acquisition of Lonmin Plc

JOHANNESBURG, October 16  – The Competition Commission on Tuesday recommended that the South African Competition Tribunal approve the proposed R5 billion acquisition of Lonmin Plc by Sibanye-Stillwater, subject to conditions. The Tribunal is the regulatory body which provides final approval for large mergers in South Africa. Last December Sibanye offered R5.17 billion for Lonmin in […]

Business In The News South Africa

Gold wage talks deadlock again between Sibanye and Amcu

JOHANNESBURG, September 20 – Wage negotiations between the Association of Mineworkers and Construction Union (Amcu) and Sibanye-Stillwater reached a deadlock once again on Thursday. “No agreement has been reached and wage talks continue,” Amcu said in a terse statement. This as Amcu, along with other gold-sector unions, continued gold wage conciliation processes with Sibanye, Harmony Gold, and Village […]

Business In The News South Africa

Sibanye-Stillwater launches $400million bond buyback to reduce debt

JOHANNESBURG, September 4 – Sibanye-Stillwater on Tuesday announced the launch of a U.S.$400 million tender process to repurchase a portion of its corporate bonds and convertible bonds. The South African precious metals group will fund the repurchase from existing cash resources, including the U.S.$500 million advance proceeds of its recently concluded streaming transaction with Wheaton Precious Metals International. […]

Business In The News South Africa

SA gold wage negotiations continue despite NUM declaring dispute

JOHANNESBURG, August 21  – Wage negotiations between South African gold producers and three mineworker unions continued on Wednesday, despite one union pulling out and declaring a dispute with the employer. The National Union of Mineworkers (NUM) declared a wage dispute with the Minerals Council of South Africa on Tuesday. But the Association of Mineworkers and Construction […]

In The News South Africa

Sibanye vows to defend itself against possible class action lawsuit in the US

JOHANNESBURG, June 28 – Sibanye-Stillwater on Thursday said that it will “vigorously defend” itself against a possible lawsuit in the United States over deaths of mineworkers at its operations in South Africa. “The company notes the publicity and, if any claims are ultimately filed against the company intends to vigorously defend itself. We will continue […]

In The News South Africa

Sibanye condemned for another death at its operations

JOHANNESBURG, June 27 – Workers’ unions and political parties have condemned the death of yet another mineworker at Sibanye-Stillwater’s operations. On Tuesday, a 36-year-old winch operator died at the company’s Khomanani mine in Driefontein west of Johannesburg after he entered a scraper path and was caught by the scraper. The death brought to 21 the number of […]

Lead South Africa

lawmakers want Sibanye hauled over the coals

JOHANNESBURG, June 26- The chairperson of the portfolio committee on mineral resources, Sahlulele Luzipo, on Tuesday called for strong action to be taken against mining company Sibanye-Stillwater, including possibly suspending its operating licence.   Luzipo said the rate at which workers were dying at Sibanye mines had reached “disastrous proportions”   This comes after Sibanye […]

In The News South Africa

Sibanye-Stillwater says regression of safe working conditions at operations unacceptable

JOHANNESBURG, June 20 – Sibanye-Stillwater admitted on Wednesday that the substantial regression of safe working conditions underground at its operations was unacceptable, and committed to restoring and improving safety. A memorial service was held on Wednesday for five mineworkers who died from gas and heat exposure at Sibanye’s Kloof Ikamva mine after they entered an […]