Modern Mining January 2024

MINING News

Precious metals miner Sibanye-Stillwater, has given notice to its employees and contractors that it will be implementing a restructuring of its US PGM operations to reduce the operating and capital cost struc Sibanye-Stillwater begins repositioning its US PGM operations tures and ensure sustainability through a lower palladium price environment. The restructuring follows an initial repositioning for the changing macro environment with the subsequent antici pated decline in the palladium price and impact of ongoing inflationary cost pressures at the operations, necessitat ing a reduction in the cost structures. The restructuring is expected to affect approximately 100 Sibanye-Stillwater employees, the majority of whom are at the Stillwater Mine, with the remainder spread between the East Boulder Mine, the Columbus Metallurgical Complex and Columbus offices, as well as remote work locations. A significant number of contract workers other than essential services will also be impacted, with approximately 187 contract workers (69% of current primary mining contract workers) affected across the sites. Neal Froneman, CEO of Sibanye Stillwater commented: “We have taken decisive action to address costs at the US PGM operations, to ensure the sustain ability of these long-life operations during a challenging period of lower than antici pated PGM prices. This is not a decision we have taken lightly, and we will engage frankly and candidly with affected stake holders during this challenging period.  Southern Palladium appoints Roger Baxter as non-executive chairman Sibanye-Stillwater operations in the USA.

ASX-listed Southern Palladium has appointed Roger Baxter as non-executive Chairman of the Board, commencing on 1 January 2024. Baxter was CEO of the

Minerals Council South Africa for over eight years, a position from which he recently retired. He led the complete brand reju venation, reputation enhancement and

modernisation of the Minerals Council enabling it to become a much more effec tive, strategically driven, agile, assertive and capable organisation. Baxter said: “My appointment to the Board of Southern Palladium presents a unique opportunity to engage with one of the few remaining PGM development projects of significance globally. The Bengwenyama project has several stand-out attributes and is now well advanced in terms of transitioning from exploration to development. I look for ward to working with the team at Southern Palladium and contributing to the advance ment of the project and of the company.”  Southern Palladium appoints Roger Baxter to its board.

A view of the company’s flagship Bengwenyama project.

8  MODERN MINING  January 2024