Today's Labour News

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Sibanye StillwaterMiningmx reports that precious metals producer Sibanye-Stillwater has apparently signaled to unions that it might cut up to 5,000 jobs at its struggling Driefontein operation in the gold sector.  

This prospect was raised in so-called “Future Forum” discussions with unions.  Sibanye spokesman James Wellsted said in response to questions about the 5,000 number at Driefontein that:  “There is a possibility that if we don’t find a solution to losses at certain shafts, that there may be restructuring of that nature.”  But he stressed that nothing was set in stone at this stage.  Lay-offs are politically sensitive in SA, where the unemployment rate is over 25%.  Tensions are also running high at Sibanye’s gold operations, where the Association of Mineworkers and Construction Union (Amcu) has been on a wage strike for 13 weeks against the backdrop of escalating violence.  Driefontein’s woes are well known to the market.  The operation employs almost 11,000 employees, according to the company’s latest annual report.

  • Read Ed Stoddard’s report in the above regard in full at Miningmx

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