Sibanye Stillwater has announced that the planned restructuring of its South African gold operations could result in the loss of more than 4 000 jobs. The company states that the restructuring was intended to stop losses at its Beatrix 1 shaft, which has been unable to provide expected production.
The mining company suffered an annual loss of two billion dollars in 2023 due to a collapse in metal prices.
It is also looking to cut at its Kloof 2 plant which, after the closure of the Kloof 4 shaft in 2023, has had insufficient processing material available to cover overheads.
“Sibanye Stillwater confirms that it has advised stakeholders that it will enter into consultations with organised labour and other representatives of affected non-unionised employees in terms of Section 189 A of the Labour Relations Act regarding the proposed restructuring at its so-called operations and its southern Africa region service functions,” says Sibanye Stillwater spokesperson, James Wellsted.
– Report by Zihle Mdanyana
