BusinessLive reports that Sibanye-Stillwater saved up to 10,000 jobs by backing away from a decision to close up to 300,000oz of annual platinum group metal (PGM) production from its Rustenburg mines, saying it was on track to save R1bn at the mines.  

Spokesman James Wellsted said Sibanye had done the work to save its three deep-level conventional mines from closure and while the news was not great for the platinum market it meant unit costs of production were lower and the mines were headed for breakeven or profits.  The good news comes at a time when the company is in talks with organised labour at its Beatrix West and three Cooke shafts to close the operations at a cost of up to 10,000 jobs.  It is said that Sibanye will probably allow the formal talks to run their course before considering options around selling one or both of the mines.

• Read this report by Allan Seccombe in full at BusinessLive
• Read too, Sibanye-Stillwater avoids closure of certain PGM business units, at Mining Weekly
• And also, Sibanye preserves 300,000 oz in platinum output as saves R1bn, at Miningmx

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