JSE/NYSE-listed Sibanye-Stillwater reports that the South African Labour Court has dismissed the application made by AMCU to interdict the Section 189A consultation process at its gold operations.
Neal Froneman, CEO for Sibanye-Stillwater comments:
“Contemplating potential restructuring of this nature is never taken lightly and we are aware of the possible impact on our employees.
"As we said when we announced the S189, we have consistently highlighted the operational and financial risks associated with the under-performance of the affected shafts at future forum meetings, which have been held regularly with stakeholders (including the unions) in an attempt to collectively find ways to address on-going losses.
"Attempts to jointly devise viable alternative measures, have however been unsuccessful so far.
"The S189 process commenced on 14 February 2019, and we urge AMCU and other stakeholders to participate in this process, so that we can jointly find ways to mitigate possible job losses at the operations.”