5d 1m 3m 1y 5y 10y
There is research on this stock available only to PRO subscribers.
There are no Transcripts on SBGL.
There are no News articles on SBGL.
SBGL vs. ETF Alternatives
Thursday, Jan 2311:43 AM
Thursday, Jan 2311:43 AM| Comment!
- South African gold miners are higher - AngloGold Ashanti (AU) +6.3%, Harmony Gold (HMY) +3.2%, Gold Fields (GFI) +2.4%, and Sibanye Gold (SBGL) +2.1% - as they enjoy a reprieve from the start of strikes at the country's platinum mines.
- There was talk of labor strikes in the gold mines too, but the gold miners managed to avert that by challenging the AMCU labor union in court; any potential strike against gold producers is delayed until Jan. 30, and analysts say the union is looking to see how the platinum strikes go before moving forward.
Friday, Jan 175:37 PM
Wednesday, Jan 1511:24 AM
Wednesday, Jan 1511:24 AM| Comment!
- Citi expects South African gold miners will have produced ~6% more gold Q/Q in December, mainly due to the inclusion of Gold Fields' (GFI +1.2%) recently acquired Yilgarn assets and the ramp up of AngloGold’s (AU +2.5%) Tropicana and Kibali projects.
- But bearish fundamentals have not changed, Citi says, maintaining its Neutral rating on GFI but Sell ratings on AU, Harmony Gold (HMY +0.3%) and Sibanye Gold (SBGL +3.2%).
- If Citi is right, the South African gold miners will continue to lose their equity value, although perhaps at a slower pace.
Wednesday, Jan 158:20 AM
Wednesday, Jan 158:20 AM| Comment!
- South African gold miners including AngloGold Ashanti (AU), Harmony Gold (HMY) and Sibanye Gold (SBGL) face strike notices over pay demands, the AMCU union says.
- The gold companies in September reached a wage accord with labor groups except AMCU, the dominant union at the largest mines in the country.
- AMCU says members will strike at Impala Platinum (IMPUY), the world’s second-biggest producer, and meetings will be held at Lonmin (LNMIF) and Anglo American Platinum (AGPPY).
Monday, Dec 22013, 5:44 PM
Wednesday, Sep 252013, 9:15 AM
Friday, Sep 62013, 2:11 PM
Friday, Sep 62013, 2:11 PM| Comment!
- Some striking South African gold miners returned to work last night after accepting an 8% pay increase from companies including AngloGold (AU +2.6%) and Sibanye Gold (SBGL +3.6%).
- The offer has been accepted by most members of the National Union of Mineworkers, which represents two-thirds of the country's gold miners.
- However, 10 of Harmony Gold’s (HMY -0.6%) 11 mines continue to be affected by the strike, and workers at Gold Fields' (GFI +1.3%) South Deep mine also aren’t yet back at work, but they may report for duty later today.
- AU’s six mines report normal shifts, and two of SBGL’s three sites are operating with the remaining mine expected to resume tonight.
Friday, Aug 302013, 7:58 AM
Friday, Aug 302013, 7:58 AM| 3 Comments
- South Africa’s four biggest gold producers - AngloGold (AU), Gold Fields (GFI), Harmony Gold (HMY) and Sibanye Gold (SBGL) - are hoarding cash and lining up access to more as they prepare for the first industry-wide strike since 2011, as the National Union of Mineworkers says its members will lay down their tools on Sept. 3.
- The companies seem unwilling to meet the labor union’s terms; “The gold mines are taking action to put their operations into positive cash flow at this gold price," a Johannesburg-based analyst at SBG Securities says. "Hunkering down on wages is part of that strategic plan. They can’t afford it."
Thursday, Aug 222013, 8:28 AM
Thursday, Aug 222013, 8:28 AM| Comment!
- South Africa's labor unrest is spreading, as tens of thousands of construction workers prepare to lay down their tools next week and gold mining unions plan to call a strike over wages.
- The National Union of Mineworkers says it will consult members in the coming days to discuss strike action; NUM represents ~64% of ~140K South African gold miners, where major operators include AngloGold (AU), Gold Fields (GFI), Harmony (HMY) and Sibanye Gold (SBGL).
- A construction stoppage would affect major companies such as Wilson Bayly Holmes Ovcon, Aveng (AVEPY.PK) and Group Five.
Monday, Aug 192013, 10:35 AM
Monday, Aug 192013, 10:35 AM| Comment!
- AngloGold (AU -5%) shares sink after a National Union of Mineworkers spokesman tells Bloomberg the wage-offer gap between gold producers and labor groups in South Africa appears too wide to resolve, saying "I smell a strike in the air."
- Wage negotiations stalled July 24 after the unions rejected an offer of a 5% pay increase and a housing-related allowance.
- GFI -1.7%, HMY -0.7%, SBGL -3.8%.
Thursday, Aug 82013, 9:35 AM
Thursday, Aug 82013, 9:35 AM| Comment!
- South African miners AngloGold Ashanti (AU +0.8%), Harmony Gold (HMY +0.3%) and Sibanye Gold (SBGL +3.2%) are cut to Sell from Hold at HSBC, which says lower gold prices are cutting margins.
- Foreseeing a 12-month period of "momentous pressure" on the industry, the firm expects "extremely tough operating conditions given the current tensions between management and labor, as wage negotiations enter dispute, and the negative implications of potential restructuring on industry jobs."
- Gold Fields (GFI +0.5%), which spun off SBGL earlier this year, is HSBC’s preferred South African gold miner with a Hold rating.
Friday, Jul 262013, 12:18 PMGold is falling and taking gold mining stocks with it, but South Africa’s miners have it worse: HMY -5.8%, SBGL -5.6%, AU -3.4%, GFI -1.9%. The fractious nature of labor relations and the potential for another violent incident is the biggest of many problems, Barclays writes, and getting it right is critical for the country; the sector accounts for 5% of real value added directly and 18% indirectly. |Friday, Jul 262013, 12:18 PM| Comment!
Friday, Jul 122013, 11:14 AMSibanye Gold (SBGL -6.8%) gained more than 10% yesterday and was one of the best performing emerging-market ADRs, but today shares are slammed after the miner recognized AMCU as the majority union at its Driefontein operations, the first formal nod by a South African gold producer of the union seen as militant. |Friday, Jul 122013, 11:14 AM| Comment!
Wednesday, Jul 102013, 2:59 PMAnglo American (AAUKY.PK, AAUKF.PK) CEO Mark Cutifani warns that wage negotiations beginning tomorrow in South Africa will determine not only the future of the mining industry but also the continent’s largest economy. Against a backdrop of rising costs and falling prices, with many shafts losing money or operating on thin margins, a more militant AMCU union is involved in talks for the first time. |Wednesday, Jul 102013, 2:59 PM| Comment!
Friday, Jun 282013, 5:23 PMAfter recently saying the price is headed to $1K if $1.2K support is broken, Dennis Gartman says it's no longer time to be short gold. He thinks the yellow metal has probably "seen its worst" in the recent selloff in which the precious metal fell to its lowest level since 2010 to under $1.2K an ounce. "I'm not sure that I want to step up and buy," he adds, "but the time to be short of it is passed... it's time to go to the sidelines." (Video) |Friday, Jun 282013, 5:23 PM| 12 Comments
Friday, Jun 282013, 4:18 PM