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Sibanye StillwaterMining Weekly reports that a consultation process with stakeholders regarding the restructuring of Sibanye-Stillwater’s SA gold operations has resulted in expected job losses being nearly halved to 3,450.  

When it embarked on the retrenchment process in February, the precious metals producer had expected 5,870 Sibanye employees and 800 contractors to lose their jobs.  The process was in response to ongoing financial losses since 2017 at the Beatrix 1 shaft and Driefontein 2, 6, 7 and 8 shafts.  Sibanye on Wednesday said voluntary separation, early retirement and natural attrition accounted for the bulk of the 3,450 affected jobs, with forced retrenchments limited to about 800 employees and 550 contract workers.  Agreements were reached with stakeholders that Driefontein 8 shaft would remain in operation for as long as it made a profit, on average, over any continuous period of three months.  No viable alternatives were, however, found for the Beatrix 1 shaft and Driefontein 2, 6 and 7 shafts, as well as the Beatrix 2 plant.  As such, Beatrix 1 and Driefontein 2 shafts will be placed on care and maintenance, while Driefontein 6 and 7 shafts and the Beatrix 2 plant will be closed.  Sibanye plans to achieve additional cost reductions through the rationalisation of single accommodation units, training facilities, occupational healthcare centres and primary healthcare facilities, among others.

  • Read the full original of the report in the above regard at Mining Weekly
  • Read too, Over 3,000 gold mine workers affected by Sibanye-Stillwater restructuring, at Fin24

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