Bakubung Platinum Mine temporarily shuts down amid talks to cut 500 jobs

Wesizwe Platinum has entered Section 189 consultations at its Bakubung Platinum Mine in the North West after the company abandoned its current production strategy with immediate effect.

The move could see the company shed up to 70% of its staff, unless it “considers measures and alternatives aimed at avoiding or mitigating potential retrenchments”.

In place of the former strategy, the miner will pursue a revised development strategy resulting in a reduction in the company’s headcount required to establish and sustain the production profile in the updated business plan.

“As part of its ongoing efforts to enhance operational efficiency, Bakubung has determined that a restructuring of its workforce is necessary to ensure the effective and sustainable operation of its business and to achieve a meaningful reduction in operating expenditure,” the parent company, Wesizwe said in a Sens on Thursday.

ADVERTISEMENT

CONTINUE READING BELOW

Read:
Implats weighs 3 900 job cuts in South Africa as price rout takes toll
Amplats weighs cutting 3700 jobs after metal prices slump

The proposed restructuring is expected to affect approximately 497 employees across various staff levels and disciplines throughout the business.

“Maintaining the current headcount of 706 employees would not constitute a reasonable or sustainable course of action, as it would fail to address the company’s operational challenges.”

As part of the consultative process, the Bakubung mine has already temporarily shut down its operations, for a period of three weeks, while “maintaining the mine in a safe, secure, environmentally compliant and operationally ready condition”.

ADVERTISEMENT:

CONTINUE READING BELOW

In 2023, the company found itself at odds with its employees when more than 200 disgruntled mineworkers staged a sit-in underground over labour issues, including concerns about retrenchments and demands for pay hikes.

Wesizwe’s shares remain suspended on the JSE, since June 2025 when the company breached the stock exchange’s listing requirement to publish its audited annual financial statements on time.

Read: Fuzzy disclosure by mines obscures the truth about rehabilitation

#Bakubung #Platinum #temporarily #shuts #talks #cut #jobs