Sibanye Gold
Sibanye has advised that it will be entering into a consultation process at its Platinum Operations that could result in the retrenchment of about 330 employees.

The consultation process of precious metals producer Sibanye will take place in terms of section 189A of the Labour Relations Act 66 of 1995.

Sibanye said the process that could result in the retrenchment of employees remains well within the scope of the Competition Tribunal’s ruling when it approved the acquisitions of Aquarius Platinum and the Rustenburg Operations in March 2016.

A final decision will be taken following consultation with organised labour representatives and relevant employees.

In 2016, Sibanye highlighted approximately 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, according to Sibanye Gold.