Sibanye-Stillwater concludes Section 189 consultations at its Kloof 4 shaft

Constructive consultations were held between the Company and affected stakeholders over 78 days, during which various avoidance measures to mitigate possible retrenchments and minimise job losses at the Kloof 4 shaft and associated services were considered.

As per the announcement on 14 September 2023, 2,389 employees and 581 contractors were potentially affected by the S189. The affected employee number was reduced by 31 employees at Kloof 4 due to natural attrition since September 2023.

Pleasingly, through the S189 consultation process, avoidance measures were agreed to and implemented, resulting in the following outcomes:

• 1,057 employees accepted transfers to fill vacant positions at the SA gold operations primarily resulting from natural attrition over a five-month period from the start of the S189 process   
• 176 employees and 23 contractors will temporarily be retained during Kloof 4 shaft’s decommissioning phase
• 550 employees from Kloof 4 shaft were granted voluntary separation (VSPs) or early retirement packages along with a further 348 employees across the SA gold operations

Regrettably, 575 employees could not be accommodated in the agreed avoidance measures, and will be retrenched. All affected contractors will also be reduced.

Neal Froneman, CEO of Sibanye-Stillwater commented: “While the decision to close or restructure operations is never taken lightly, the closure of Kloof 4 shaft was necessary to curb ongoing financial losses. The S189 consultation process encouragingly achieved this required outcome while also reducing the number of retrenchments. We acknowledge and thank all stakeholders for their constructive engagement.”

About Sibanye-Stillwater

Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings retreatment operations.

Sibanye-Stillwater has established itself as one of the world’s largest primary producers of platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt. The Group has recently begun to diversify its asset portfolio into battery metals mining and processing and increase its presence in the circular economy by growing its recycling and tailings reprocessing exposure globally. For more information refer to www.sibanyestillwater.com.

Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted
Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: www.sibanyestillwater.com

Sponsor: J.P. Morgan Equities South Africa Proprietary Limited 

In Europe:
Swiss Resource Capital AG
Jochen Staiger & Marc Ollinger
info@resource-capital.ch
www.resource-capital.ch

FORWARD LOOKING STATEMENTS

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