By Ian Walker
Sibanye Gold Ltd. (SGL.JO) said Tuesday that it expects to report a swing to loss for the first half of the year, mainly due to strikes at its South African operations.
The mining company--which has traded as Sibanye-Stillwater Ltd. (SBGL) since it bought U.S. company Stillwater Mining Co.--expects to report a net loss of 265 million rand ($17.3 million) for the half year ended June 30, compared with a profit of ZAR77 million for the half year ended June 30, 2018.
Sibanye Gold said the loss mainly reflects the strike action at its South African operations. It said the company expects to book restructuring costs of ZAR387 million and other strike costs of ZAR374 million.
Sibanye Gold is due to report earnings for the half year on Thursday.
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