trending Market Intelligence /marketintelligence/en/news-insights/trending/psKhN_uiwal3hsFGvpWnSg2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Sibanye: 330 layoffs expected at platinum ops amid cost-cutting drive

Video

Climate Credit Analytics: Linking climate scenarios to financial impacts

Blog

Essential Metals & Mining Insights, April 2021

Blog

Global M&A Infographic Q1 2021

Blog

COVID-19 Impact & Recovery: Private Equity


Sibanye: 330 layoffs expected at platinum ops amid cost-cutting drive

Sibanye Gold Ltd. may let go of about 330 workers as it looks to achieve 800 million South African rand in cost cuts at its Kroondal and Rustenburg platinum operations in South Africa.

The company on Jan. 26 said it has started a consultation process at the operations for the proposed restructuring, with a final decision to be made after talks with unions and relevant employees.

"The reduction in replicated overhead costs and duplicate structures is a critical first step in realizing these synergies," Sibanye said.

It acquired the Rustenburg operation from Anglo American Platinum Ltd., or Amplats, in 2016 for 4.5 billion rand, while the Kroondal project is a 50/50 joint venture between Amplats and Sibanye.