JOHANNESBURG (miningweekly.com) – Precious metals miner Sibanye on Thursday said it could possibly retrench 330 employees at its platinum operations and that it was entering into a consultation process with labour unions.
The company said the retrenchments remained within the scope of the Competition Tribunal’s ruling when it approved Sibanye’s acquisitions of Aquarius Platinum and the Rustenburg Operations in March 2016.
A final decision will be taken following consultation with organised labour representatives and employees.
In 2016, Sibanye highlighted about R800-million in cost and operational synergies that need to be realised between the Kroondal and Rustenburg operations to ensure sustainability.
“The reduction in replicated overhead costs and duplicate structures is a critical first step in realising these synergies,” it stated.