Up to 7,400 jobs could be cut as Sibanye Gold starts restructuring its gold assets in SA, to address continued unprofitability at its Beatrix West mine in the Free State and three Cooke shafts in Gauteng. Sibanye had tried a number of options to restore these operations to profitability, but had failed, said CEO Neal Froneman. The company’s restructuring comes soon after AngloGold Ashanti said it was cutting up to 8,500 jobs or a third of its South African workforce, as it moved to close its old and unprofitable Kopanang and Savuka mines. Anglo American Platinum and Atlatsa Resources have agreed to cease operations at the Bokoni platinum mine with more than 2,000 jobs lost. The Chamber of Mines has said the local mining industry has lost 70,000 jobs in the past five years. The National Union of Mineworkers said Sibanye's figure excluded 3,000 contractors who would be affected by the company's decision, bringing the potential job losses at the two mines to 10,400. Sibanye said it had...
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