The outcome of the S189 process, following consultations with stakeholders, is as follows:
Shaft 1B and a specific Sweeping and vamping project will continue with limited mining, sweeping and reclamation, until the end of December 2020 ? resulting in the preservation of 329 jobs, provided that the projects continue to be profitable on a three-month average period
Job losses were reduced by identifying approximately 166 opportunities for affected employees to be transferred to other operations
Approximately 1,612 employees were granted Voluntary Separation Packages (VSPs), 53 employees proceeded on normal retirement and natural attrition accounted for 259 employees
Approximately 1,142 employees were ultimately retrenched and contractors were reduced by ~1,709
Sibanye-Stillwater CEO, Neal Froneman commented: ?We are pleased with the outcome of the consultations with stakeholders, which despite the necessary closure of some end of life shafts, resulted in the preservation of a number of jobs. This will result in a more sustainable business which will secure employment for the majority of the Marikana workforce for a much longer period.?
The information in this announcement may contain forward-looking statements within the meaning of the ?safe harbour? provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements, including, among others, those relating to Sibanye Gold Limited?s (trading as Sibanye-Stillwater) (?Sibanye-Stillwater? or the ?Group?) financial positions, business strategies, plans and objectives of management for future operations, are necessarily estimates reflecting the best judgment of the senior management and directors of Sibanye-Stillwater.
All statements other than statements of historical facts included in this announcement may be forward-looking statements. Forward-looking statements also often use words such as ?will?, ?forecast?, ?potential?, ?estimate?, ?expect? and words of similar meaning. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances and should be considered in light of various important factors, including those set forth in this disclaimer and in the Group?s Annual Integrated Report and Annual Financial Report, published on 29 March 2019, and the Group?s Annual Report on Form 20-F filed by Sibanye-Stillwater with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-35785). Readers are cautioned not to place undue reliance on such statements.
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