The process is expected to affect four of its shafts and associated services at its SA’s operations.

Sibanye's Head of Investor Relations James Wellsted has attributed the looming job cuts to the increase in operational costs, wages and inflation on imports which have added cost pressures to the industry.

“ This year we've seen a significant decline in the price of PGM's largely driven by the global macro-economic outlook and the outlook for the global auto industry and as a result the global industry is facing very squeezed margins and significantly under water in many areas.”

--ChannelAfrica--