Mining Weekly reports that precious metals miner Sibanye-Stillwater on Wednesday advised that it would start consultations with relevant stakeholders regarding the restructuring of its Marikana operations and associated services.
It planned reduction of about 5,270 jobs affecting about 3,904 employees and 1,366 contractors. The consultations in terms of Section 189A of the Labour Relations Act follow the completion of a detailed three-month review of the Marikana operations, post the Lonmin acquisition becoming effective in June. “Overall, the outcome will be a more sustainable business which is able to secure employment for the majority of the Marikana workforce for a much longer period,” Sibanye CEO Neal Froneman commented. The restructuring will result in the rationalisation of overheads and the realisation of other synergies and efficiencies required to restore profitability and ensure the sustainability of the remaining shafts at the Marikana operations, the company said in a statement. Sibanye noted that the six-month moratorium on forced retrenchments imposed by the Competition Commission Appeal Court would lapse on 7 December. Commenting on the announcement, trade union Solidarity posited that the affected employees were paying the price for trade union Amcu’s five-month strike in 2014 and former Lonmin CEO Ben Magara’s “mismanagement”. Solidarity said it would do everything to prevent retrenchments, or alternatively, to ensure that no forced retrenchments took place before the end of the year.
- Read the full original of the report in the above regard at Mining Weekly
- Read too, Sibanye-Stillwater to cut 5,270 jobs at Marikana operations in effort to reach profitability, at Miningmx
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