Companies / Mining Sibanye cuts fewer jobs than expected at Marikana BL PREMIUM

Sibanye-Stillwater has cut its Marikana workforce by 4,775 jobs, fewer than it flagged when it started the restructuring process late in 2019, but adding to SA’s growing ranks of unemployed.

Sibanye bought the financially distressed Lonmin, once the world’s third-largest platinum miner, for R4.3bn worth of shares in June 2019. In September, it said it would cut up to 5,270 jobs at the Lonmin assets, which included mines, concentrators, smelters and refineries.