Edition:
India

Sibanye Gold Ltd (SGLJ.J)

SGLJ.J on Johannesburg Stock Exchange

880.00ZAc
18 May 2018
Change (% chg)

0.00 (+0.00%)
Prev Close
880.00
Open
878.00
Day's High
890.00
Day's Low
863.00
Volume
9,300,696
Avg. Vol
9,921,216
52-wk High
2,064.48
52-wk Low
835.00

Latest Key Developments (Source: Significant Developments)

Sibanye-Stillwater Receives South African Reserve Bank Approval For Acquisition Of Lonmin
Tuesday, 15 May 2018 

May 15 (Reuters) - SIBANYE-STILLWATER - :SIBANYE-STILLWATER RECEIVES SOUTH AFRICAN RESERVE BANK APPROVAL FOR PROPOSED ACQUISITION OF LONMIN.PROPOSED TRANSACTION REMAINS SCHEDULED FOR CLOSURE DURING SECOND CALENDAR HALF OF 2018.  Full Article

Lonmin Updates on Impairment and Waiver
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Lonmin Plc ::LONMIN - ‍HAS OBTAINED AGREEMENT FROM LENDERS FOR FURTHER WAIVER OF COMPLIANCE WITH CONSOLIDATED TANGIBLE NET WORTH DEBT COVENANTS UNTIL EARLIER OF OFFER CLOSING​.LONMIN - SEES ‍IMPAIRMENT TO REDUCE GROUP'S CONSOLIDATED TANGIBLE NET WORTH SIGNIFICANTLY BELOW $1.10 BILLION MINIMUM REQUIRED UNDER DEBT COVENANTS.LONMIN - ‍DETERMINATION OF NON-CASH IMPAIRMENT TO CARRYING VALUE OF GROUP'S ASSETS FOR YEAR ENDED 30 SEPTEMBER 2017 IS SUBSTANTIALLY COMPLETE​.  Full Article

Buildmax Says Unit Exercises Right To Terminate Agreement With Sibanye Stillwater
Wednesday, 20 Dec 2017 

Dec 20 (Reuters) - Buildmax Ltd ::‍HAS EXERCISED ITS RIGHT TO TERMINATE ITS AGREEMENT WITH SIBANYE STILLWATER LIMITED.‍TERMINATES DEAL FOR MATERIALS HANDLING, CRUSHING, SCREENING AND TRANSPORTATION AT KLOOF IN WESTONARIA, WHICH COMMENCED IN JAN 2015​.TERMINATION PROCESS TO BE UNDERTAKEN IN RELATION TO AFFECTED EMPLOYEES; ANTICIPATED THAT DIESEL POWER WILL BE OFF SITE BY 15 MARCH 2018.  Full Article

Revised Sibanye-Stillwater Business Plan Could Affect A Further 890 Staff
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Lonmin Plc ::LONMIN TO PUBLISH ANNUAL FINANCIAL STATEMENTS IN JANUARY 2018- SIBANYE PRESENTANTION.SIBANYE SAYS EXPECTS COMPETITION CLEARANCE TO BE OBTAINED IN H2 2018.LONMIN SHAREHOLDER APPROVAL AND COURT MEETING EXPECTED IN H2 2018.SIBANYE-STILLWATER SHAREHOLDER APPROVAL EXPECTED IN H2 2018.LONMIN CEO SAYS BELIEVES OFFER IS IN THE BEST INTERESTS OF LONMIN, LONMIN SHAREHOLDERS AND OTHER STAKEHOLDERS.LONMIN CEO SAYS LONMIN CONTINUES TO BE HAMSTRUNG BY LIQUIDITY CONCERNS.SIBANYE-STILLWATER REVISED MINE PLAN SEES JOB CUTS OF APPROX 12,600 EMPLOYEES OVER THREE YEARS AS LONMIN GENERATION ONE SHAFTS REACH END OF LIFE.REVISED SIBANYE-STILLWATER BUSINESS PLAN COULD AFFECT A FURTHER 890 STAFF.  Full Article

Sibanye-Stillwater proposes to acquire Lonmin in deal valued at 285 mln pounds
Thursday, 14 Dec 2017 

Dec 14 (Reuters) - Sibanye-Stillwater ::‍PROPOSED ACQUISITION OF LONMIN BY SIBANYE-STILLWATER​.‍EXPECTS TRANSACTION TO BE NET ASSET VALUE ACCRETIVE ON CLOSING, EARNINGS AND CASH FLOW ACCRETIVE IN RESPECT OF SIBANYE-STILLWATER SHARES FROM 2021​.‍UNDER TERMS OF OFFER EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍EACH LONMIN SHAREHOLDER WILL BE ENTITLED TO RECEIVE FOR EACH LONMIN SHARE 0.967 NEW SIBANYE-STILLWATER SHARES​.‍OFFER VALUES EACH LONMIN SHARE AT 86.3 PENCE AND REPRESENTS PREMIUM OF ABOUT 35 PCT TO CLOSING PRICE PER LONMIN SHARE OF 63.8 PENCE ON 13 DEC 2017​.REALISED R550 MILLION/ANNUM IN ANNUALISED OPERATIONAL SYNERGIES AS AT 30 JUNE 2017, SEES R1 BILLION OF ANNUALISED SYNERGIES BY 2018​.‍IDENTIFIED EXPECTED TOTAL PRE-TAX RUN-RATE SYNERGIES OF APPROXIMATELY R1,500 MILLION BY 2021​.‍ESTIMATES IMPLEMENTATION OF OVERHEAD SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF R80 MILLION, HEADCOUNT REDUCTION OF ABOUT 700​.‍IMPLEMENTATION OF PROCESSING SYNERGIES WOULD GIVE RISE TO EXPECTED ONE-OFF COSTS OF APPROXIMATELY R1,000 MILLION​.‍ASIDE FROM ONE-OFF COSTS REFERRED, DOES NOT EXPECT ANY MATERIAL DIS-SYNERGIES TO ARISE IN CONNECTION WITH ACQUISITION​.LONMIN BELIEVES IF LOW PGM PRICES PERSIST, REGARDLESS OF ACQUISITION IMPLEMENTED, POTENTIALLY IN EXCESS OF 12,000 JOBS IN LONMIN WOULD BE AT RISK OVER NEXT 3 YRS.  Full Article

Sibanye-Stillwater and DRDGOLD to create surface mining partnership​
Wednesday, 22 Nov 2017 

Nov 22 (Reuters) - Sibanye-stillwater ::‍SIBANYE-STILLWATER AND DRDGOLD TO CREATE SURFACE MINING PARTNERSHIP​.SIBANYE-STILLWATER - ‍SIBANYE-STILLWATER TO VEND SELECTED GOLD SURFACE PROCESSING ASSETS AND TAILINGS STORAGE FACILITIES FOR A 38% STAKE IN DRDGOLD​.SIBANYE-STILLWATER - ‍OPTION TO INCREASE EQUITY OWNERSHIP IN DRDGOLD TO 50.1% WITHIN 24 MONTHS​.SIBANYE-STILLWATER - RETAINS FULL OWNERSHIP OF COOKE AND EZULWINI PROCESSING PLANTS AND TAILINGS FACILITIES ENSURING FULL URANIUM OPTIONALITY​.SIBANYE-STILLWATER - ‍IMMEDIATE CRYSTALLISATION OF C.R1.3 BILLION OF VALUE FOR SELECTED ASSETS WHILE RETAINING LONG TERM EXPOSURE TO WEST RAND TAILINGS RETREATMENT PROJECT (WRTRP) ASSETS AND GROWTH IN DRDGOLD​.‍TRANSACTION IS EXPECTED TO CLOSE IN Q2 OF 2018 CALENDAR YEAR​.  Full Article

Sibanye-Stillwater signs 3-yr deal at Kroondal ops‍​
Thursday, 9 Nov 2017 

Nov 9 (Reuters) - Sibanye-Stillwater :SIBANYE-STILLWATER SIGNS THREE YEAR AGREEMENT AT ITS KROONDAL OPERATIONS‍​.SIGNED A THREE YEAR WAGE AGREEMENT WITH ALL THREE UNIONS AT ITS KROONDAL PGM OPERATIONS IN SOUTH AFRICA.AGREEMENT EFFECTIVE FROM JULY 1, INCLUDES R1,000/MONTH INCREASE YEAR ON YEAR FOR THE NEXT 3 YEARS FOR THE CATEGORY B EMPLOYEES.AGREEMENT INCLUDES CPI RELATED INCREASES FOR THE NEXT 3 YEARS FOR CATEGORY A EMPLOYEES.  Full Article

NUM and COSATU to march at Sibanye Gold Stillwater in Westonaria‍​‍​
Monday, 6 Nov 2017 

Nov 6 (Reuters) - South Africa's NUM::NUM AND COSATU TO MARCH AT SIBANYE GOLD STILLWATER IN WESTONARIA‍​‍​.MARCH COMES AFTER SIBANYE "SENT FORCED RETRENCHMENTS TERMINATION LETTERS TO MORE THAN 2 000 WORKERS AT COOKE 1 TO 3 LAST WEEK"​.  Full Article

Sibanye-Stillwater says PIC holds 10.826 pct stake in group
Friday, 3 Nov 2017 

Nov 3 (Reuters) - Sibanye Gold Ltd (Trading as Sibanye-Stillwater) ::TOTAL INTEREST HELD BY ‍PUBLIC INVESTMENT CORPORATION LIMITED AMOUNTS TO 10.826 PCT OF TOTAL ISSUED SHARES OF COMPANY​.  Full Article

Sibanye-Stillwater reorganises Cooke & Beatrix West ops
Wednesday, 1 Nov 2017 

Nov 1 (Reuters) - Sibanye-Stillwater::CONCLUDES THE S189 PROCESS RELATING TO THE COOKE AND BEATRIX WEST OPERATIONS.CONCLUDED CONSULTATION PROCESS WITH STAKEHOLDERS ON PROPOSED RESTRUCTURING OF ITS GOLD OPERATIONS AND ASSOCIATED SERVICES‍.UNDERGROUND MINING OPERATIONS AT COOKE 1, 2 AND 3 SHAFTS TO BE PLACED ON CARE AND MAINTENANCE WITH EFFECT FROM END OCTOBER 2017​.‍CONCLUDED CONSULTATION PROCESS WITH STAKEHOLDERS PURSUANT TO ONGOING LOSSES EXPERIENCED AT ITS COOKE AND BEATRIX WEST OPERATIONS​.‍BEATRIX WEST WILL CONTINUE TO PROVIDE EMPLOYMENT FOR APPROXIMATELY 1,640 PEOPLE​.‍IN TOTAL 3,601 CONTRACTORS HAVE BEEN DISPLACED​.- ‍IN EVENT BEATRIX WEST BECOMES LOSS MAKING, BOTH UNDERGROUND OPERATION AND BEATRIX 2 PLANT WILL BE PUT ON CARE AND MAINTENANCE.‍AN ADDITIONAL 620 EMPLOYEES WILL REPLACE CONTRACTORS INVOLVED IN NON- CRITICAL ACTIVITIES ACROSS GROUP​.‍APPROXIMATELY 2,025 EMPLOYEES WILL BE RETRENCHED WITH ADDITIONAL 1,350 HAVING ELECTED TO TAKE VOLUNTARY SEPARATION PACKAGES​.  Full Article

PLATINUM WEEK-Sibanye CEO confident of Lonmin takeover despite cash burn

LONDON, May 18 Sibanye-Stillwater is confident its planned purchase of Lonmin will go ahead, but the struggling platinum producer must slow its cash burn, the South African firm's chief executive said.