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Corporate governance

Our governance structures, processes and policies support our strategy execution and underpin our business model.

Sibanye-Stillwater views good corporate governance as being fundamental to the long-term sustainability of the company and to value creation for all stakeholders. It is essential too in establishing relationships with stakeholders that are based on respect and goodwill.

The approach to corporate governance is guided by the principles of fairness, accountability, responsibility and transparency. Special attention has been given to providing stakeholders and the financial investment community with clear, concise, accurate and timely information about the Group’s operations and results, reporting to shareholders on an integrated basis on Sibanye-Stillwater’s financial and sustainable performance, ensuring appropriate business and financial risk management, ensuring that no director, management official or other employee of the Sibanye-Stillwater Group deals directly or indirectly in Sibanye-Stillwater shares on the basis of unpublished price-sensitive information regarding the Sibanye-Stillwater Group, or otherwise during any prohibited period, and recognition of the Group’s social responsibility to provide assistance and development support to the communities in which it operates, and to deserving institutions at large.

Implicit in our Code of Ethics, and supported by our values, various policies and governance structures, are measures and procedures to address corruption and bribery and to govern interaction with suppliers.

In 2016, a total of 520 incidents (2015: 118) relating to corruption were reported in Sibanye-Stillwater’s Gold Division. These reports led to 387 employees (including contractors) (2015: 173) being charged and disciplined in terms of Sibanye-Stillwater’s Code of Ethics. Many of the incidents reported involved monetary theft/dishonesty and assisting illegal miners. The marked increase in incidents reported in 2016 followed several initiatives specifically targeted at combatting illegal mining. In the Platinum Division, 19 such incidents were recorded and 20 employees implicated were dealt with in terms of the Sibanye-Stillwater Code of Ethics.