Sibanye gold costs top R1m/kg during strike

The true cost of the five-month strike at Sibanye-Stillwater’s gold mines was laid bare in its March quarter numbers, with the cost of production nearly double that of the price it received.

The Association of Mineworkers and Construction Union called a wage strike on November 21 2018, and ended it a few days short of a full five months on April 17, settling for little more than three other unions had agreed to in November. Sibanye noted, however, its platinum group metals businesses in SA and the US offset losses from the gold division.

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