Sibanye digs deep to help Wits, UJ

SIBANYE Gold announced a sponsorship of R30 million for the University of Johannesburg (UJ) and the University of the Witwatersrand yesterday. This followed Sibanye’s R25m funding of the same institutions in 2014.

Sibanye said the funds would enable the universities to maintain a high standard of teaching and learning, support research and innovation, and provide capital for the development and maintenance of world-class facilities.

Last year, Sibanye funded R49m in bursaries and internships and committed to invest a further R432m over the next five years to provide tertiary education for about 640 young South Africans entering the mining industry.

Sibanye said it was committed to maintaining its investment in education despite the tough economic climate and the challenges facing the mining industry.

Sibanye chief executive Neal Froneman said the mining industry was a critical component of the economy and had a significant role to play in delivering economic growth and employment.

“The provision of quality education is a vital requirement if we’re to grow the economy and, as a company, we are aware that our core purpose – that our mining improves lives – can only be realised if we continue to build the pipeline of young talent needed to lead our industry into a bright future,” Froneman said.

Sibanye last week signed a three-year R15m partnership with UJ to integrate mining education with the Fourth Industrial Revolution.

The money would be used to set up mining emulation infrastructure at the university’s Doornfontein campus.

UJ vice-chancellor designate Tshilidzi Marwala said partners like Sibanye ensured students would be work-ready. NETCARE has been a laggard in recent years, but its share price is showing signs of improving, as shown in the graph. Netcare: Recovery potential. Recommendation: Buy. Trend: Sideways but improving.

Netcare has broken out above its medium-term resistance level (red line) after declining again since May. This is a positive sign and points to some sort of bottom.

It’s a buy at current levels for the short term at least and perhaps longer.

I’m looking for an initial rally to R27.90 for partial profittaking and then more at R28.70.

Protect positions with a close below R23.90 to exit. Once the price closes above R27.50, move that exit (stop) level up to a closing price below R25.20.

Colin Abrams is an independent technical analyst. To subscribe to more recommendations by the author, or attend his courses, go to www.themarket.co.za