[SMM Flash] Sibanye-Stillwater has commenced formal consultations over the proposed restructuring of the Kwezi shaft at its Rustenburg PGM operations in South Africa, as the underground operation approaches the end of its economic life. The company said mining has reached the limits of the shaft’s approved mining-right area and economically mineable reserves are being depleted. The Section 189A process could potentially affect 781 employees and 333 contractor employees, representing 1,114 people in total.
The consultation does not yet constitute a confirmed shaft closure or final retrenchment decision. However, the development highlights the depletion pressure facing mature South African PGM operations despite the recent recovery in platinum-group-metal prices. If restructuring ultimately results in closure or materially reduced activity at Kwezi, the shaft’s future contribution to Sibanye-Stillwater’s Rustenburg PGM production would decline, although the company has not yet disclosed a specific production-loss estimate.
