Today's Labour News

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Sibanye StillwaterBusiness Report writes that Sibanye-Stillwater (Sibanye) is set to undergo an organisational review that would affect its management structure.  

This comes after the Competition Tribunal last week gave the group's multibillion-rand takeover of platinum producer Lonmin the green light.  CE Neal Froneman said the new structure would involve the reconfiguration of its management teams and formed part of Sibanye's strategy to ensure the successful integration of Lonmin into the group.  But this will not mean Sibanye will neglect its gold operations.  The tribunal last week approved the acquisition subject to a moratorium on retrenchments at the Lonmin operations for six months.  However, the conditions excluded any voluntary separation agreements and ordinary course of business terminations.  Froneman said he believed the conditions were reasonable and in the best interests of all stakeholders.  He added that:  “We are confident that the integration of Lonmin's PGM assets and Sibanye-Stillwater's adjacent PGM operations, will ensure a more sustainable and positive future for these assets and bring greater stability to the region.”  Froneman also commented that Sibanye recognised that there would be no major uptick in platinum demand in the near future.

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