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SIBANYE GOLD LIMITED - Constitutional Court of South Africa dismisses applications brought by Greater Lonmin Community

Release Date: 05/09/2019 16:44
Code(s): SGL     PDF:  
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Constitutional Court of South Africa dismisses applications brought by Greater Lonmin Community

Sibanye Gold Limited
Trading as Sibanye-Stillwater
Incorporated in the Republic of South Africa
Registration number 2002/031431/06
Share code: SGL
ISIN – ZAE000173951
Issuer code: SGL
(“Sibanye-Stillwater” or “the Group” or “the Company”)

Constitutional Court of South Africa dismisses applications brought by Greater Lonmin

Johannesburg, 5 September 2019: Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) is
pleased to announce that the Constitutional Court of South Africa (the “Con Court”) has
today, delivered judgment on the applications for leave to appeal and direct access by the
Greater Lonmin Community (“GLC”), in which the GLC sought to essentially set aside the
acquisition of Lonmin Plc (“Lonmin”) by Sibanye-Stillwater. The Con Court dismissed,
without costs, the application for leave to appeal as it bore no reasonable prospects of
success, and dismissed the application for direct access as the GLC had not made a case
that was sufficiently in the interests of justice for it to be heard directly by the Con

The effect of the Con Court order is that the judgment of the Competition Appeal Court
(which, in essence, endorsed the judgment of the Competition Tribunal) remains in force.
This now brings an end to all proceedings.

CEO, Neal Froneman commenting on the positive Con Court ruling said: “We are extremely
pleased with the judgment made by the Con Court today, which supports our view that the
GLC’s claims had been properly dealt with before by the Competition Appeal Court and the
Competition Tribunal and were frivolous. It is unfortunate that certain stakeholders seem
unable to recognise the plight that faced the Lonmin operations and, instead of engaging
with us, continue to pursue spurious and expensive legal alternatives. We are sensitive to
the needs of our communities and remain committed to ongoing engagement and to delivering
on Lonmin’s Social and Labour Plan commitments as recorded in the conditions handed down
by the Competition Tribunal and reiterated by the Competition Appeal Court.”

Investor relations contact:


James Wellsted
Head of Investor Relations
Tel: +27 (0) 83 453 4014

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited


The information in this announcement may contain forward-looking statements within the meaning of the “safe
harbour” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-
looking statements, including, among others, those relating to Sibanye Gold Limited’s (trading as Sibanye-
Stillwater) (“Sibanye-Stillwater” or the “Group”) financial positions, business strategies, plans and
objectives of management for future operations, are necessarily estimates reflecting the best judgment of the
senior management and directors of Sibanye-Stillwater.

All statements other than statements of historical facts included in this announcement may be forward-looking
statements. Forward-looking statements also often use words such as “will”, “forecast”, “potential”,
“estimate”, “expect” and words of similar meaning. By their nature, forward-looking statements involve risk
and uncertainty because they relate to future events and circumstances and should be considered in light of
various important factors, including those set forth in this disclaimer and in the Group’s Annual Integrated
Report and Annual Financial Report, published on 29 March 2019, and the Group’s Annual Report on Form 20-F
filed by Sibanye-Stillwater with the Securities and Exchange Commission on 5 April 2019 (SEC File no. 001-
35785). Readers are cautioned not to place undue reliance on such statements.

The important factors that could cause Sibanye-Stillwater’s actual results, performance or achievements to
differ materially from those in the forward-looking statements include, among others, our future business
prospects; financial positions; debt position and our ability to reduce debt leverage; business, political and
social conditions in the United Kingdom, South Africa, Zimbabwe and elsewhere; plans and objectives of
management for future operations; our ability to obtain the benefits of any streaming arrangements or pipeline
financing; our ability to service our bond Instruments (High Yield Bonds and Convertible Bonds); changes in
assumptions underlying Sibanye-Stillwater’s estimation of their current mineral reserves and resources; the
ability to achieve anticipated efficiencies and other cost savings in connection with past, ongoing and future
acquisitions, as well as at existing operations; our ability to achieve steady state production at the Blitz
project; the success of Sibanye-Stillwater’s business strategy; exploration and development activities; the
ability of Sibanye-Stillwater to comply with requirements that they operate in a sustainable manner; changes
in the market price of gold, PGMs and/or uranium; the occurrence of hazards associated with underground and
surface gold, PGMs and uranium mining; the occurrence of labour disruptions and industrial action; the
availability, terms and deployment of capital or credit; changes in relevant government regulations,
particularly environmental, tax, health and safety regulations and new legislation affecting water, mining,
mineral rights and business ownership, including any interpretations thereof which may be subject to dispute;
the outcome and consequence of any potential or pending litigation or regulatory proceedings or other
environmental, health and safety issues; power disruptions, constraints and cost increases; supply chain
shortages and increases in the price of production inputs; fluctuations in exchange rates, currency
devaluations, inflation and other macro-economic monetary policies; the occurrence of temporary stoppages of
mines for safety incidents and unplanned maintenance; the ability to hire and retain senior management or
sufficient technically skilled employees, as well as their ability to achieve sufficient representation of
historically disadvantaged South Africans’ in management positions; failure of information technology and
communications systems; the adequacy of insurance coverage; any social unrest, sickness or natural or man-made
disaster at informal settlements in the vicinity of some of Sibanye-Stillwater’s operations; and the impact
of HIV, tuberculosis and other contagious diseases.

These forward-looking statements speak only as of the date of the content. Sibanye-Stillwater expressly
disclaims any obligation or undertaking to update or revise any forward-looking statement (except to the extent
legally required).

Date: 05/09/2019 04:44:00
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