Sibanye intends to start talks with organised labour and other affected stakeholders, pertaining to the possible restructuring. Credit: István Mihály from Pixabay.

Precious metals mining company Sibanye-Stillwater is looking to restructure one of its gold operations in South Africa (SA) due to operational constraints and ongoing losses over an extended period.

The move is expected to impact about 2,389 employees and 581 contractors at Kloof 4 shaft, which suspended operations on 1 August 2023 due to an incident that damaged infrastructure.

Related Company Profiles

View all

Sibanye Stillwater now intends to start talks with organised labour and other affected stakeholders, regarding the possible restructuring.

In a press statement, Sibanye Stillwater said: “The initiation of S189 consultations follows numerous unsuccessful attempts to address productivity issues and other operational constraints at the Kloof 4 shaft, including seismicity and cooling constraints (associated with the chilled water reticulation circuit), which together have contributed to sustained losses, even at recent high gold prices.”

The company noted that these factors impacted the productivity at the Kloof 4 shaft and have jeopardised its financial viability.

Through the consultation process, the firm intends to consider measures to help reduce potential layoffs. It will also look for alternatives to the potential cessation or scale-back operations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Sibanye-Stillwater SA gold operations head and executive vice-president Richard Cox said: “We will engage with all relevant stakeholders in an effort to avoid job losses while attempting to limit the impact on the remainder of the operations and employees at the SA gold operations.”

Currently, three shafts are still in operation at the Kloof gold mine in the West Wits Line of the Witwatersrand Basin, reported Bloomberg News.