Wesizwe Platinum is revising its strategy and will restructure operations at Bakubung Platinum Mine in North West province, which may affect nearly 500 employees.Wesizwe said on Thursday that Bakubung Minerals will begin consultations in terms of section 189A of the Labour Relations Act with organised labour and other stakeholders regarding the restructuring of its operations.It said this follows a decision by the board to discontinue the company’s 1-million tonnes per annum (Mtpa) production strategy with immediate effect.In its place, the company plans a revised development strategy based on a single-stage ramp-up to a 3.5Mtpa operation. The revised strategy will necessitate a reduction in the number of employees required to establish and sustain the production profile contemplated 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 proposed restructuring is expected to affect approximately 497 employees across various staff levels and disciplines throughout the business,” it said.The consultation process will be facilitated by the Commission for Conciliation, Mediation and Arbitration (CCMA), the company and affected stakeholders, who will jointly consider measures and alternatives aimed at avoiding or mitigating potential retrenchments. Notwithstanding this, Bakubung’s preliminary assessment is that viable alternatives to workforce reduction are limited, it said.“Maintaining the current head count of 706 employees would not constitute a reasonable or sustainable course of action, as it would fail to address the company’s operational challenges and its imperative to implement efficiency measures and restore a trajectory of profitability and growth,” it added.To facilitate the consultation process and create an environment that allows all parties to focus on the consultation, Bakubung will implement a three-week temporary operational shutdown with immediate effect while maintaining the mine in a safe, secure, environmentally compliant and operationally ready condition.“Bakubung remains committed to engaging constructively with all relevant stakeholders in order to mitigate the impact on the remainder of its operations and its employees,” it said.Wesizwe’s listing on the JSE has been suspended since last year after the Chinese state-owned company was put on notice for failing to submit its annual report within the four months set out in the bourse’s listing requirements.Last month the company published its results for the year to end-December 2025 as well as its integrated annual report. It said that it intends to formally engage with the JSE regarding the process to lift the suspension of its listing.The group’s Chinese consortium shareholder comprises Jinchuan Mining and the China-Africa Development Fund.Jinchuan, controlled by the Chinese government, is one of the world’s leading producers of nickel and cobalt, with exposure to copper and platinum group metals (PGM) as well.Wesizwe’s Bakubung Mine in the PGM-rich Bushveld Complex is in the early stages of production after numerous delays, caused in part by technical glitches at its processing plant and Covid-19 in 2020.The construction of the mine started in 2011 and was initially scheduled to come into full production in late 2020 before the pandemic threw a spanner in the works, followed by community protests.In 2024, the company scrambled to contain a cyberattack on its operations, which exposed its finance, legal, procurement and human resources functions, including personal information.With Kabelo KhumaloBusiness Day