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Sibanye's Siphumelele shaft on track for May restart; Marikana 4B shaft to be shut

Sibanye CEO Neal Froneman

Sibanye CEO Neal Froneman

18th April 2024

By: Creamer Media Reporter

     

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Multinational mining and metals processing company Sibanye-Stillwater says the Siphumelele shaft at its Rustenburg operation is on schedule to resume production during May, as planned.

A surface ore conveyor belt system at the shaft suffered damage in February when an ore collector bin attached to the shaft headgear sheared off and fell to the ground.

The incapacitation of the ore collector bin and the collapse of the conveyor system necessitated the suspension of production and employees were placed on leave while the damage was assessed and repair work got under way.

All employees returned from leave on April 15 for startup procedures.

Meanwhile, Sibanye has also announced that the 4 Belt (4B) shaft at its Marikana operation will be closed, as it has been unable to meet the profitability conditions set as an outcome of the Section 189A process, as reported in October last year.

“Despite 4B shaft having limited remaining economic reserves, the decision to close a shaft is never taken lightly. We cannot, however, continue to absorb ongoing losses, which, in turn, affects the viability of the rest of the South African platinum group metal operations to the detriment of all stakeholders.

"We are encouraged that the number of forced retrenchments was limited and we acknowledge and thank all stakeholders for their constructive engagement during the process,” CEO Neal Froneman comments.

Of the 1 496 people employed at the shaft, 226 left as a result of natural attrition.

A further 469 employees were transferred to other PGM operations owned by Sibanye and 643 employees were granted voluntary separation or early retirement packages.

Ninety-three employees' fixed-term contracts were not renewed.

Following the above measures, 65 employees were retrenched and 54 contractors terminated.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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