Strike costs Sibanye R160 million

Sibanye Gold’s Cooke Mine, located in Randfontein, Gauteng, estimates that it has lost 300 kilograms of gold production, the equivalent of R160 million, due to the recent, four-week unprotected strike.

Pictured: Charl Keyter, Sibanye Gold CFO, nominated for this year's CFO of the Year Awards.

The unprotected strike began after the mine stopped workers from taking food underground, as it was found that this was being provided to illegal miners. Sibanye obtained a court interdict on 8 June, compelling striking miners to return to work, though this was ignored, prompting disciplinary measures to be implemented against striking employees. As many as 77 employees have been arrested for assisting illegal miners, while more than 472 illegal miners have surfaced from underground and been arrested.

The company said in a statement that operations at the mine will resume this coming week.