January 10, 2019 / 5:38 AM / 6 months ago

Sibanye-Stillwater expects gold output to dip below guidance

JOHANNESBURG, Jan 10 (Reuters) - Sibanye-Stillwater said on Thursday bullion production in 2018 is expected to be lower than forecast after almost half of the employees down tools since mid-November in a wage strike at its South African gold operations.

The miner said it expected 2018 production to come in at 1.1 million ounces compared with a guidance of between 1.13 million ounces and 1.16 million ounces.

The Association of Mineworkers and Construction Union (AMCU), which represents around 43 percent of Sibanye-Stillwater’s workforce in South Africa, downed tools in November after wage talks with the company broke down. (Reporting by Tanisha Heiberg, Editing by Sherry Jacob-Phillips)

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