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The 4 Belt shaft at Marikana will remain open on condition that it does not run up net losses on a monthly basis. operations to 2,600 after talks with stakeholders, including labour unions.a restructuring process at its four loss-making mines that was expected to result in the loss of 4,095 jobs.
Sibanye-Stillwater said the reduction in the number of layoffs was possible thanks to strategic decisions taken in consultation with interested parties. These include going ahead with the announced closure of the Simunye shaft, which ceased production in 2023, as well as keeping the 4 Belt shaft at Marikana open.
The miner said that the Marikana mine shaft, which employs 1,496 permanent workers and 54 contractors, will only stay in production if it does not run up net losses on a monthly basis. Two other shafts, Rowland and Siphumelele, which were hit by operational and geological issues, “have been repositioned for sustainable levels of production at a lower cost structure”, Sibanye-Stillwater said.
The Johannesburg-based firm noted that almost 1,300 employees had voluntarily left their jobs or accepted early retirement packages, while 467 people left since September due to “natural attrition”.Hudbay Minerals shares rise on record revenue for 2023Montage said it will use the proceeds to advance its Koné gold project in Côte d'Ivoire, expected to begin construction in H2 2024.
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