Sibanye-Stillwater to Begin Talks on Restructuring of Four Southern African PGM Shafts
Sibanye-Stillwater, a dual-listed company, is entering discussions with organized labor and other affected non-unionized employees and their representatives regarding the potential restructuring of four platinum group metal (PGM) shafts in its Southern African business.
This restructuring and potential shaft closures may impact around 4,095 employees and contractors, including support services employees.
While two of the shafts have already ceased production due to depleted ore reserves and economic viability, the other two require restructuring for sustainable production.
Rising costs and falling PGM prices have challenged the profitability of the global PGM industry, affecting Sibanye’s operations. CEO Neal Froneman previously stated that the PGM industry might face job losses due to low PGM prices.
These discussions are essential to ensure the sustainability of Sibanye’s South African PGM operations and the benefits they provide to various stakeholders.
