Sibanye-Stillwater to shut Kwezi shaft in Rustenburg, over 1,100 jobs at risk

Sibanye-Stillwater said on 8 September 2026 that it had begun formal Section 189 consultations with unions over the planned closure of its Kwezi platinum group metals shaft near Rustenburg, a move that puts 781 full-time employees and 333 contractor positions at risk. The company cited the depletion of economically mineable reserves at the shaft as the primary reason for the restructuring.

Kwezi produced just 20,658 ounces of platinum group metals in the first half of the 2026 financial year, less than 3% of Sibanye-Stillwater's total South African production, despite the shaft still generating positive cash flow. The operation posted losses of R208 million in 2024 and R91 million in 2025, underscoring how thin the margins on the remaining ore have become.

A stalled extension project

A planned extension known as Kwezi Shallows had been intended to access additional underground reserves and extend the shaft's life, but the project ran into what the company described as stakeholder objections, appeals and delays in securing the necessary approvals. Those delays accelerated the depletion of the shaft's remaining reserves, leaving the company with little alternative but to begin winding down operations.

Union and worker reaction

Solidarity said it understood the company's argument that Kwezi was approaching the end of its economic life, but warned that the timing was particularly difficult, with the consultation deadline falling in early November, just ahead of the festive season, leaving affected workers little time to find alternative employment if the job losses cannot be avoided. "This uncertainty places enormous pressure on mineworkers and could also affect their attention and focus in an already dangerous working environment," said Solidarity's Willie Venter, linking the retrenchment process directly to safety concerns in a year that has already seen more mining fatalities than all of 2025.

Part of a wider wave

The Kwezi announcement is one of several major restructuring moves to hit South African mining in 2026, alongside a two-year production pause at De Beers' Venetia diamond mine and retrenchments at Petra Diamonds' Finsch and Cullinan operations. Solidarity noted that the three processes together could affect more than 4,000 employees and contractors. Sibanye-Stillwater said it remained hopeful about a planned revival of its Burnstone gold shaft near Balfour and would explore transferring some affected Kwezi employees there, though the company gave no guarantee that job losses could be fully avoided.

Sources

• Miningmx: Sibanye-Stillwater to shut Kwezi Rustenburg shaft, costing 1,000 jobs, 08 Sept 2026
• News24: 1,100 jobs on the line as Sibanye looks to shut Rustenburg shaft, 08 Sept 2026