Sibanye Gold Ltd (SGLJ.J)
19 Jan 2018
Fri, Dec 15 2017
LONDON Plans to cut around 13,000 jobs are likely to be the biggest obstacle to miner Sibanye-Stillwater winning South African regulatory approval for its proposed takeover of troubled rival Lonmin , the CEO of Lonmin told Reuters.
LONDON/JOHANNESBURG South Africa's Sibanye-Stillwater agreed to buy troubled miner Lonmin for about 285 million pounds ($382 million) to create the world's No. 2 platinum producer in a bid to ride out depressed prices for the metal.
LONDON Lonmin's main labor union in South Africa said on Thursday it would consider mass action to oppose the takeover of the struggling platinum miner by Sibanye-Stillwater , which Sibanye has already said will lead to 12,600 job cuts.
* Lonmin underperforms peers: http://bit.ly/2zbL36M (Updates with union comment, closing Lonmin shares)
(Fixes typo in Sibanye Gold's name) The following company announcements, scheduled economic indicators, debt and currency market moves and political events may affect South African markets on Wednesday.
JOHANNESBURG, Aug 3 South Africa's Sibanye Gold will restructure operations in its domestic market, a move that could affect 7,400 of its employees, the gold and platinum miner said on Thursday.
* APPOINTMENT OF KEN KLUKSDAHL AS CHIEF OPERATING OFFICER, U.S. REGION Source text for Eikon: Further company coverage: (Bengaluru Newsroom)