Edition:
United States

Sibanye Gold Ltd (SGLJ.J)

SGLJ.J on Johannesburg Stock Exchange

2,707.32ZAc
24 Mar 2017
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Latest Key Developments (Source: Significant Developments)

Sibanye Gold says dividend withholding tax rate up to 20 pct
Friday, 24 Feb 2017 08:25am EST 

Sibanye Gold Ltd :Following South African Minister of Finance budget speech on Feb. 22, dividend withholding tax rate has been increased from 15.0 pct to 20.0 pct.  Full Article

Sibanye Gold says FY headline earnings of 2.5 bln Rand
Thursday, 23 Feb 2017 01:00am EST 

Sibanye Gold Ltd : FY operating profit of r10.5 billion . FY headline earnings of r2.5 billion (us$169 million) . total dividend of 145 cents per share (ZAR) for year . gold production for year ending 31 december 2017 is forecast between 47,000kg and 48,000kg . total capital expenditure for 2017, including burnstone, is currently planned at approximately r4.0 billion . platinum division is forecast to produce between 1.05moz and 1.10moz in 2017 . strength in rand, relatively muted consensus outlook for gold price will impact south african mining industry operating margins in 2017 . "management is re-evaluating its current growth capital expenditure plans" . for six months ended 31 december 2016, total gold production from sibanye's gold division was 23,805/kg, 7% lower .HY revenue increased by 33% to r16,536 million from r12,472 million.  Full Article

Sibanye Gold sees full-year HEPS up 265 pct
Wednesday, 22 Feb 2017 09:07am EST 

Sibanye Gold Ltd : Trading statement . EPS and HEPS for year ended Dec. 31, 2016 are expected to be 402 cents and 270 cents respectively . FY forecast represents an increase of 409 pct in respect of EPS and an increase of 265 pct in respect of HEPS .Increase in earnings is as a result of higher revenues from gold division during year and inclusion of Aquarius and Rustenburg platinum.  Full Article

Sibanye receives S.African Reserve Bank clearance for Stillwater deal
Tuesday, 21 Feb 2017 01:44am EST 

Sibanye Gold Ltd : Sibanye receives SARB approval for proposed Stillwater acquisition . Received approval of South African Reserve Bank for proposed acquisition of Stillwater Mining Company .Says transaction remains on schedule for closure during second calendar quarter of 2017.  Full Article

Sibanye says full-year gold production for 2016 down 2 pct
Friday, 3 Feb 2017 01:04am EST 

Sibanye Gold Limited : Gold production in line with h1 2016 . Average underground gold grade increased by 4 pct year-on-year . Kroondal, mimosa and platinum mile beat guidance on pgm production and costs . Sibanye's gold division produced approximately 23,800kg (765,000oz) of gold for six months ended 31 december 2016 . Year-On-Year decline in production is primarily due to closure of cooke 4 shaft during period and a number of power outages due to severe thunderstorm activity that occurred during last quarter . Gold production for full year of approximately 47,000kg (1.5moz) 2016 was approximately 2 pct lower than guidance. . All-In sustaining costs ("aisc") for six months ended 31 december 2016 will be approximately r452,000/kg (us$1,007/oz), lower than forecast aisc of r460,000/kg . All-In costs ("aic") will be approximately r475,000/kg (us$1,005/oz). . Gold price received of approximately r569,000/kg (us$1,268/oz)for six months ended 31 december 2016 was 6 pct lower . Capital expenditure for period under review was approximately r2.4 billion, while total capital spent for 2016 was approximately r4.2 billion. .Consensus outlook for precious metal prices in near term, particularly in rand terms, is subdued, with rand remaining surprisingly resilient..  Full Article

Sibanye says enters consultation process for retrenchment
Thursday, 26 Jan 2017 01:00am EST 

Sibanye Gold Limited : Will be entering into a consultation process at its platinum operations, in terms of section 189A of Labour Relations Act 66 of 1995. . Process could result in retrenchment of approximately 330 employees, which remains well within scope of competition tribunal's ruling . Final decision will be taken following consultation with organised labour representatives and relevant employees. .Reduction in replicated overhead costs and duplicate structures is a critical first step in realising these synergies..  Full Article

Sibanye says U.S. antitrust condition satisfied for Stillwater deal
Thursday, 19 Jan 2017 01:13am EST 

Sibanye Gold Ltd : Has received early termination of waiting period under Hart-Scott-Rodino Act with respect to proposed acquisition of Stillwater by Sibanye . Effect of early termination is that antitrust condition required for transaction has now been satisfied .Transaction is expected to close in second calendar quarter of 2017.  Full Article

Sibanye to acquire stillwater mining company for $2.2 billion
Friday, 9 Dec 2016 01:04am EST 

Stillwater Mining Co : Stillwater mining-deal for an all-cash transaction at $18.00 per share, a 25% premium to stillwater's 30 day volume-weighted average share price . Stillwater-Sibanye secured bridge financing of $2.7 billion provided by citi and hsbc to fund deal ,repay certain existing indebtedness of stillwater . Stillwater mining -co required to pay break-up fee of $16.5 million,reimburse sibanye for up to $10 million of expenses in event merger is terminated . Stillwater mining-sibanye's two largest shareholders, gold one international ltd. & ublic investment corporation ltd have confirmed support of deal . Stillwater-Sibanye required to pay reverse break-up fee of $33 million and reimburse stillwater for up to $10 million of expenses in event merger agreement .Sibanye to acquire stillwater mining company for $2.2 billion.  Full Article

S.Africa's Sibanye to buy Stillwater Mining for $2.2 bln
Friday, 9 Dec 2016 12:55am EST 

Sibanye Gold Limited : Proposed acquisition of stillwater Mining Company: creating a premier, global precious metals miner . Has agreed to acquire all of outstanding common stock of Stillwater Mining for $18.00 per share in cash, or $2.2 billion in aggregate . Consideration represents a premium of 23 pct to Stillwater's prior day closing share price . Post-closing of transaction, Sibanye expects to raise in capital markets new debt and at least $750 million in equity through a rights issue . Sibanye's two largest investors, which in aggregate represent 29 pct of Sibanye's issued share capital, have confirmed their support of deal . Board of directors of Stillwater has recommended that stockholders of Stillwater vote in favour of transaction . Transaction is expected to close in Q2 of 2017 . Sibanye is targeting a net debt-to-2017 EBITDA ratio of no greater than 1.5x by end of fiscal year 2017 . Has obtained a $2.7 bln bridge loan commitment from Citi and HSBC to fund transaction consideration and repay stillwater's convertible debentures .Board of directors of Stillwater has unanimously determined and resolved that transaction is advisable, fair to and in best interests of co and stockholders.  Full Article

BRIEF-Amplats says completes sale of Rustenburg ops to Sibanye
Tuesday, 1 Nov 2016 03:05am EDT 

Anglo American Platinum Ltd : Anglo American Platinum completes sale of Rustenburg operations to Sibanye .Upfront disposal proceeds of 1.5 bln rand received in cash will reduce debt , further strengthen Anglo American Platinum's balance sheet.  Full Article

More From Around the Web

U.S. extends scrutiny of South Africa's Sibanye Gold takeover of Stillwater

JOHANNESBURG The Committee on Foreign Investment in the United States will extend its scrutiny of a $2.2 billion takeover by South Africa's Sibanye Gold of the only U.S. miner of platinum and palladium, Stillwater Mining , Sibanye said on Friday.