Confirmation of notice by AMCU to commence with industrial action
Westonaria, 4 April 2016: Sibanye (JSE: SGL AND NYSE: SBGL) wishes to advise shareholders that the Association of Mineworkers and Construction Union (AMCU) has served the company with notice to commence industrial action in respect of the 2015 wage negotiations. In terms of the notice, AMCU members will embark on protected industrial action from afternoon shift, Wednesday, 6 April 2016.
“The decision taken by the AMCU leadership is unfortunate, particularly coming after such an extended period following agreement on wages, which was reached with the three other representative unions at Sibanye, in October 2015. In the interest of a harmonious working environment and sustainable operations, a decision was taken to implement the wage increases to all employees, including AMCU members, retrospectively from July 2015. We wish to advise that the wage increases implemented in 2015 are final and the decision taken by the AMCU leadership will not yield a different outcome”, said Sibanye CEO, Neal Froneman.
“As management we are required to consider and protect the interests of all stakeholders and we will ensure that the viability and sustainability of our business is maintained. We have developed robust plans to manage the potential impact of strike action at our operations and will implement these plans accordingly. We will also be working together with other relevant stakeholders to ensure that the industrial action is conducted peacefully, within the framework of the agreed strike rules and in accordance with the law” concluded Froneman.
James Wellsted SVP Investor Relations Sibanye Gold Limited +27 83 453 4014 email@example.com
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited