JOHANNESBURG, September 25 – Mining company Sibanye-Stillwater said on Wednesday it would enter into consultation with stakeholders in terms of section 189 of the Labour Relations Act — which relates to retrenchments — regarding the restructuring of its Marikana operations which would cut about 5,270 jobs.
In a statement, Sibanye-Stillwater said this was “pursuant to ongoing financial losses experienced at these operations with certain shafts having reached the end of their economic reserve lives”.
“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,” it added.
– African News Agency (ANA)
