JSE/NYSE-listed Sibanye-Stillwater has received notice that the Association of Mineworkers and Construction Union (AMCU) has referred the current wage negotiation process for the Rustenburg and Marikana operations to the Commission for Conciliation, Mediation and Arbitration (CCMA) for conciliation.
This is another stage in the negotiation process which follows internal dispute resolution processes.
Sibanye-Stillwater continues to engage constructively with AMCU in an attempt to conclude a fair and sustainable wage agreement.
The notice of referral of the dispute requires CCMA to appoint a commissioner who will assist the parties in an attempt to resolve the dispute within the required statutory period of 30 days.
This follows Sibanye-Stillwater announcing consultations with relevant stakeholders in terms of Section 189A of the Labour Relations Act, 66 of 1995, regarding the restructuring of its Marikana operation and associated services .
This is pursuant to ongoing financial losses experienced at these operations with certain shafts having reached the end of their economic reserve lives.
The restructuring will result in the rationalisation of overheads and the realisation of other synergies and efficiencies required to restore profitability and ensure the sustainability of the remaining shafts at the Marikana operations.
Approximately 5,270 jobs (~3,904 employees and ~1,366 contractors) are expected to be lost due to the restructuring.