Sibanye-Stillwater has finished consulting stakeholders affected by the proposed restructuring of its South African gold operations due to the Kloof 4 shaft losses.
The consultations lasted 78 days and addressed avoidance methods to reduce retrenchments and job losses at the Kloof 4 shaft and associated services.
Sibanye-Stillwater announced last September that it would restructure the operation due to long-term losses and Kloof 4 shaft constraints.
It was estimated that 2,389 employees and 581 contractors could lose their jobs.
The group said 1,057 affected employees accepted transfers to fill vacant positions at its other South African gold operations, and 550 Kloof 4 shaft employees were granted voluntary separation or early retirement packages.
The Kloof 4 shaft decommissioning will also retain 176 staff and 23 contractors.
The agreed-upon avoidance measures did not accommodate 575 employees, who will be laid off.
“While the decision to close or restructure operations is never taken lightly, the closure of Kloof 4 was necessary to curb ongoing financial losses,” comments Sibanye CEO Neal Froneman.
"The... consultation process encouragingly achieved this required outcome while also reducing the number of retrenchments. We acknowledge and thank all stakeholders for their constructive engagement.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
