Board oversight

Three committees of the Board have oversight of matters relating to sustainability, namely the Safety, Health and Sustainable Development Committee, and the Social and Ethics Committee. The Audit Committee has oversight of matters relating to finance and risk.

The Safety, Health and Sustainable Development Committee reviews Sibanye’s adherence to occupational health, safety and environmental standards. The committee has oversight of efforts to minimise mining-related accidents, to ensure that Sibanye operations comply with all environmental regulations and to establish policy in respect of HIV/AIDS and other health matters. The committee is chaired by non-executive director, Barry Davison. Other committee members are Neal Froneman, Sello Moloko and Susan van der Merwe. The committee met on three occasions in 2013. Its primary activities included assisting the Board in its oversight of the effectiveness of the Group’s sustainable development programmes as well as to keep the Board informed about the Group’s objectives and its compliance with and maintenance of standards in this area.

The Social and Ethics Committee is responsible for discharging its statutorily imposed duties as contemplated in the Companies Act, 2008 (Act No 71 of 2008) and the applicable regulations. They include monitoring Sibanye’s activities in relation to relevant legislation and prevailing best practice regarding social and economic development, good corporate citizenship, the environment, health and public safety, the impact of Sibanye’s activities, and labour and employment legislation.

The Social and Ethics Committee must bring any pertinent matters to the attention of the Board and report to shareholders at the AGM.

The Board relies on the Social and Ethics Committee in ensuring that Sibanye complies with best-practice recommendations in respect of social and ethical management. This committee is chaired by Jerry Vilakazi and its members are Timothy Cumming, Barry Davison, Sello Moloko and Keith Rayner. The committee met on three occasions during the year.

At its first meeting at the beginning of the year, the Social and Ethics Committee approved its annual work plan for 2013. Areas discussed with management included the 10 Principles of the International Council on Mining and Metals (ICMM), the 10 Principles of the United Nations Global Compact (UNGC), community development, broad-based black economic empowerment (BBBEE) and employment-equity requirements, and Mining Charter compliance requirements. The committee noted that the Group complied with the statutory duties, save for more work being done by management in building up the HDSA pipeline in middle-management levels and more work being done in certain areas with regard to the Mining Charter and the SLP requirements.

See Sibanye’s Ethics and Corporate Governance Policy.