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Sibanye Gold considers future of Beatrix West

4 Apr 2013

JOHANNESBURG: New South African gold mining company Sibanye Gold has entered into a consultation process, in terms of section 189A of the Labour Relations Act, 66 of 1995, with organised labour, the Department of Mineral Resources and other relevant stakeholders in order to consider the options available for the future of its Beatrix West operation.

The company says the Beatrix West Section (previously Oryx Mine) cost R2.6 billion to develop, but has always been marginal and to date, has not been able to recover the initial capital spent. A number of initiatives to arrest the production decline and rising costs were implemented by Gold Fields Limited and the Beatrix West Section was kept operational in the hope that the situation would improve.

Read the full article on www.miningreview.com.