Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Johannesburg, 20 June 2018: Further to the announcement released on Thursday 14 June 2018 advising of the tragic loss of five employees who passed away after entering an area at its Kloof Ikamva mine that is not currently mined, on Monday 11 June 2018, Sibanye-Stillwater (Tickers JSE: SGL and NYSE: SBGL) wishes to provide an update on safety at its operations.
Sibanye-Stillwater has recently experienced a significant increase in safety incidents at its Southern Africa (SA) operations, with 20 employees losing their lives in nine incidents since February 2018. This substantial regression in safety, is unacceptable.
Commenting on the safety incidents, CEO Neal Froneman voiced the following: “One life lost is one too many. We are appalled by the loss of our employees’ lives at our mines over the past few months. It pains all of us when employees are injured or lose their lives in safety incidents. While we cannot rectify the harm that has occurred, we will continue to support the families as best we can in their grief. The safety of employees is our primary concern and, if it is not safe to operate, we expect conditions to be fixed before work can resume at a working place. There is substantial evidence that well-organised workplaces are both safe and productive, and that is our aim.”
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