Lonmin PLC intends to cut 4,100 workers at six of its South Africa platinum mining operations that have run out of commercially viable ore, Bloomberg News reported.
A spokesperson said the miner began a process to carry out the reductions, part of a long-term plan to trim staff and lower costs at its deep-level operations. In 2017, Lonmin unveiled plans to reduce its workforce by 12,600 over three years.
This comes despite a recent Reuters report that Lonmin will reduce or delay planned job cuts in South Africa ahead of its Sibanye Gold Ltd. tie-up due to a boost in revenue on higher palladium prices and a weaker South African rand.
Lonmin shareholders will vote on Sibanye's proposed acquisition, which entitles Lonmin shareholders to 1 Sibanye share for every share owned. Sibanye confirmed May 20 that the all-share deal is final and will not be increased.