Mittelstandspresse
08.09.2026
Sibanye-Stillwater enters into Section 189A consultations regarding the proposed restructuring of Kwezi shaft at its SA PGM operations
Johannesburg, 08.09.2026 (PresseBox) - Sibanye-Stillwater (JSE: SSW and NYSE: SBSW) (- https://www.commodity-tv.com/play/sibanye-stillwater-focus-on-maximizing-margins-and-operational-efficiency/ -) advises that it will enter into consultations in terms of Section 189A of the Labour Relations Act, 66 of 1995 (Section 189A) with organised labour and affected non-unionised employees through their representatives regarding the proposed restructuring of Kwezi shaft at its Southern Africa platinum group metals (SA PGM) operations.
Kwezi is a mature underground PGM shaft within the Rustenburg operation where mining has reached the limits of the approved mining license area. As such, and in line with expectations, the shaft is approaching the end of its economic life.
The Company has implemented various initiatives over several years to extend the shaft's life, including reserve optimisation and boundary adjustments. A recently proposed Kwezi Shallows project that had an opportunity to access available shallow up-dip mineral resources was expected to add reserves and support future production; however, stakeholder objections, appeals and delays in required approvals have prevented the project from progressing as planned. The absence of these additional reserves has accelerated depletion of the remaining mining inventory and weakened the shaft's sustainability.
Kwezi reported losses of approximately R208 million in 2024 and R91 million in 2025. Although stronger PGM prices supported positive margins during the first half of 2026, Kwezi is forecast to return to losses during the second half of 2026 as production declines.
Based on the outcome of a detailed operational and financial review of Kwezi shaft, the Company considers it necessary to commence a Section 189A consultation process regarding the proposed restructuring of Kwezi shaft. The consultation process will, among other things, consider measures to avoid or minimise job losses, mitigate the impact on affected employees and evaluate alternatives that may improve the shaft's viability. No final decision has been made.
The proposed restructuring could potentially affect approximately 781 employees and 333 contractor employees.
In H1 2026, Kwezi produced 20,658 4E ounces, representing less than 3% of total managed and attributable SA PGM production of 734,645 4E ounces for the period.
"We acknowledge and are sensitive to the uncertainty that consultation processes create for employees and their families and remain deeply committed to engaging constructively throughout the process. Unfortunately, given the depletion of economically mineable reserves and the corresponding declining financial outlook, it is necessary to commence consultations regarding the future of Kwezi shaft," said Richard Stewart, Chief Executive Officer.
About Sibanye-Stillwater
Sibanye-Stillwater is a global mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of a suite of metals and has interests in leading secondary mining operations.
Sibanye-Stillwater is one of the largest producers and refiners of platinum group metals (PGMs: platinum, palladium, rhodium, iridium and ruthenium) and is a top-tier gold producer. It also produces nickel, chrome, copper, silver, cobalt and zinc. The Group has also diversified into mining and processing battery metals and has increased its presence in the circular economy by expanding its recycling and secondary-mining exposure globally. For more information, see www.sibanyestillwater.com.
Investor relations contact:
Email: ir@sibanyestillwater.com
Website: www.sibanyestillwater.com
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Swiss Resource Capital AG
Marc Ollinger
www.resource-capital.ch Sponsor: J.P. Morgan Equities South Africa Proprietary LimitedDISCLAIMER FORWARD LOOKING STATEMENTS
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