Sibanye Stillwater announced the closure of its 4 Belt shaft at Marikana, resulting in the loss of 855 jobs, as low platinum group metal (PGM) prices rendered the operation unprofitable. Despite previous efforts to keep the shaft operational, ongoing losses necessitated its closure. Of the affected workers, 643 were granted voluntary separation or early retirement, while others faced contract non-renewals or layoffs. Sibanye CEO Neal Froneman highlighted the need to address ongoing losses to safeguard the viability of other operations. This decision follows Sibanye’s plans to restructure its South African gold operations, potentially resulting in further job losses.
Sibanye Stillwater to Close Marikana Shaft, Cut Jobs
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