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Sibanye

SIBANYE-STILLWATER SAYS SITUATION DIRE AS IT LOOKS TO RESTRUCTURE

JOHANNESBURG - Sibanye-Stillwater says the formal restructuring process it has started is expected to last three months.

Sibanye has warned that close to 6,000 miners are in danger of losing their jobs after it recorded losses worth R1 billion at its gold operations in 2018.

However, unions have vowed to fight any threats of retrenchments at Sibanye-Stillwater.

Sibanye says it will look at measures to avoid and mitigate retrenchments in its gold mine operations.

The company has also been plagued by a three-month-long strike by members belonging to the Association of Mineworkers and Construction Union (Amcu) who are calling for higher wages.

Sibanye spokesperson James Wellsted says the situation is dire.

“If we don’t do this, the losses that we’re experiencing at these operations could reduce the lives of other profitable operations because that money can be invested in the sustainability of other operations, which now is spent at loss-making operations.”

The company is also expected to announce losses of up to a billion rand in its financial results next week.

Gideon du Plessis, the general secretary of Solidarity, says they’re communication with Sibanye to find alternatives to job losses.

Meanwhile, Amcu has vowed that it will fight any planned retrenchments at Sibanye-Stillwater.

 

Source – EWN

 

Sibanye says production resumes at strike-hit Cooke mine

JOHANNESBURG – Production has resumed at the Cooke mine of South African precious metals producer Sibanye Gold following the conclusion of a wildcat strike at the operation which erupted almost a month ago, a company spokesperson said on Monday.

The strike, which saw incidents of violence aimed at miners who did not support it, was sparked by worker resentment at Sibanye’s drive to root out illegal miners, which included the sacking of employees for collusion and a ban on taking food into the shafts.

Last week the company said that 461 illegal miners had been arrested at Cooke since the strike began after they were forced to come to the surface because the stoppage deprived them of sources of food and water provided by employees.

 

Source: Mining Weekly