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Sibanye-Stillwater to restructure at Kloof and Beatrix mines

A total of 3 107 employees and 915 contractors can be affected.

Sibanye-Stillwater today announced that it will enter into consultations in terms of Section 189A of the Labour Relations Act, 66 of 1995 (S189) with organised labour and other representatives of affected non-unionised employees, regarding the proposed restructuring at its SA gold operations and its Southern Africa (SA) region services functions.

Further to previous restructuring concluded during 2023 and Q1 2024, the ongoing Group business review has identified a need to address losses at the Beatrix 1 shaft, which has been unable to deliver planned production, and the Kloof 2 plant which, after the closure of the Kloof 4 shaft during 2023, has had insufficient processing material available to cover overheads. The deferral of capital expenditure at the Burnstone project, announced in February 2024, also requires restructuring aligned with the reduction in
planned capital activities.

The reduction in the operational footprint in the SA region, due to the recent restructuring and closure of loss-making shafts and from proposed future restructuring or closures, has resulted in the capacity of the
direct and shared services functions for the SA region and operations being surplus to current and future requirements. As a result, the Company proposes a re-alignment of the regional services, shared services
and direct services structures to align with the requirements of the reduced operational footprint.

This will reduce direct operational services costs and regional overhead costs which are allocated to the operations, thereby contributing to the sustainability of the SA region.

The proposed restructuring of the operations and services could potentially affect 3,107 employees and 915 contractors.

Management therefore considers it prudent to commence with the S189 consultations process on the potential restructuring of the identified operations and services and has invited affected employees and/or
their representatives to engage in consultations as required by Section 189A of the Labour Relations Act.

The objective of the consultation process is to, among others, consider alternative measures to minimise job losses while ensuring the long-term sustainability of the SA operations. Various alternatives have already
been considered by management and organised labour representatives in Future Forum meetings.

All reasonable options that may be suggested by affected employees through their representatives to address the losses during the Section 189A consultation process will be welcomed and duly considered.

“We continue to act prudently to protect the balance sheet and ensure the sustainability of the Group. We are committed to constructively engaging with affected employees and through their representatives to minimise job losses,” said Neal Froneman, Chief Executive Officer of Sibanye-Stillwater.

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