South Africa-based precious metals miner Sibanye-Stillwater has cut 2,600 jobs across its South African platinum group metal (PGMs) operations, after talks with relevant stakeholders.
In October last year, the company announced a potential restructuring that would affect 4,095 jobs, including 3,500 employees and 595 contractors, and support services employees.
Sibanye-Stillwater has completed the consultations with stakeholders regarding the proposed restructuring of four shafts in South Africa, under the Labour Relations Act 1995.
The restructuring includes the Simunye shaft at Kroondal, the 4Belt (4B) shaft at Marikana, the Rowland shaft at Marikana and the Siphumelele shaft at Rustenburg operations.
The company said that it has arranged constructive consultations with the affected stakeholders, considering several measures to mitigate retrenchments and minimise job losses.
The Simunye shaft, which ceased production last year, has been closed, and the 4B shaft will continue to operate until the operation does not make any losses each month.
Rowland and Siphumelele shafts will remain in operation but have been repositioned for sustainable levels of production at a lower-cost structure.
Among the 4,095 employees and contractors to be affected, including support services employees, the 4B shaft currently employs 1,496 employees and 54 contractors.
Since September last year, 467 potentially affected employees reduced due to natural attrition, and 351 employees accepted transfers to other shafts at its PGM operations in South Africa.
Also, 1,281 employees secured voluntary separation or early retirement packages, 47 could not be accommodated through the avoidance measures, and 805 contractors were also impacted.
Sibanye-Stillwater CEO Neal Froneman said: “The S189 consultation process encouragingly achieved the necessary requirement of addressing loss-making operations and ensuring the sustainability of our SA PGM operations and the benefits and value they bring to multiple stakeholders.
“We acknowledge and thank all stakeholders for their constructive engagement.”
