Published: October 30, 2023 |

[Click image to enlarge]

South Africa-based precious metals mining company Sibanye-Stillwater is set to axe more than 4,000 jobs, as part of a restructuring process of its platinum group metal (PGM) shafts.

Under the planned restructuring process, the company intends to shut down four of its PGM shafts, which were making losses due to low commodity prices and rising costs.

The proposed restructuring and shaft closures may affect around 4,095 jobs, comprising 3,500 employees, and 595 contractors, including support services employees.

“We do not underestimate the potential impact of any form of restructuring and commit to constructively engaging with affected employees through their representatives in an effort to minimize job losses,” said Sibanye-Stillwater Africa Chief Regional Officer Richard Stewart.

“Unfortunately, it is imperative that we engage in this process to ensure the sustainability of our SA PGM operations and the benefits and value they bring to multiple stakeholders,” added Stewart.

The Simunye shaft in the Kroondal operation stopped production last year, and the 4 Belt (4B) shaft in the Marikana operation is at the end of its operating life.

The Rowland shaft in the Marikana operation has achieved only 64 percent of planned production, due to several operational constraints.

The Siphumelele shaft in the Rustenburg operation saw significant seismic activity last year, where access to certain planned production areas has been restricted for safety reasons.

Sibanye-Stillwater has started consultations with the representatives of organized labor and other non-unionized employees, in accordance with the Labor Relations Act 1995.

The consultation process aims to consider alternative measures to minimize job losses and ensure the long-term viability of the Rowland and Siphumelele shafts, said the company.

“Various alternatives have already been considered by management and organized labor representatives in future forum meetings. All reasonable options that may be suggested by affected employees through their representatives to address the losses during the Section 189A consultation process will be welcomed and duly considered,” Sibanye-Stillwater said in a statement.

Source: NS Energy

Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The group is also one of the foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings retreatment operations. Sibanye-Stillwater has established itself as one of the world’s largest primary producers of platinum, palladium, and rhodium, and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper, and cobalt. The group has recently begun to build and diversify its asset portfolio into battery metals mining and processing and is increasing its presence in the circular economy by growing and diversifying its recycling and tailings reprocessing operations globally.

Be in-the-know when you’re on-the-go!