Multinational mining and metals processing group Sibanye-Stillwater has reported that 111 employees and 1 130 contractor employees have been retrenched as a result of the restructuring of its South African gold operations.
Sibanye has concluded consultations with stakeholders in terms of Section 189A of the Labour Relations Act.
As a result, Sibanye has agreed that mining operations at the Beatrix 1 Shaft will continue as long as there are no net losses on an average trailing three-month basis from June 1. Should this not be sustained, and subject to certain conditions, the shaft will be closed.
Beatrix 1 Shaft currently employs 422 employees and 100 contractors.
Further, 629 employees took voluntary separation packages or early retirement packages, natural attrition of 116 employees occurred and 448 employees accepted transfers to other operations.
“We have restructured the South African region to align with the reduced operating footprint following the necessary operational restructuring for greater regional sustainability and profitability and we are well positioned for ongoing shared value delivery.
"It is extremely encouraging that the restructuring efforts undertaken in the region have not only successfully and proactively addressed loss-making operations, thereby securing the benefits and value they continue to bring to multiple stakeholders, but through cooperative consultation with stakeholders, limited forced retrenchments to just 8% of total employees impacted since January 2023," says Sibanye CEO Neal Froneman.