Protracted strike to plunge Sibanye into R265m loss
Retrenchment costs and higher taxes add to dire interim picture for mining company
27 August 2019 - 19:25
Sibanye-Stillwater expects to report a loss of more than a quarter of a billion rand, mainly as a consequence of a protracted strike at its gold mines in SA.
Sibanye, which has aggressively grown its portfolio of platinum group metals (PGMs) mines in SA, Zimbabwe and the US, had a five-month strike at its SA gold division between November 2018 and April 2019, and needed a protracted period to return to prestrike production levels...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.