Sibanye-Stillwater has started a formal consultation process that could affect more than 1,100 workers at its Kwezi platinum-group metals (PGM) shaft near Rustenburg in the North West, as the mine approaches the end of its economic life.The company said on Tuesday it would enter into consultations under section 189A of the Labour Relations Act with organised labour and representatives of affected non-unionised employees regarding the proposed restructuring of Kwezi shaft. No final decision has been made. The process could affect 781 Sibanye employees and 333 contractor employees.The consultations will consider measures to avoid or minimise job losses and alternatives to keep the shaft viable, the company said.Kwezi is an underground PGM shaft where mining has reached the limits of the approved mining licence area. Sibanye said the shaft is approaching the end of its economic life.The company said it had sought to extend the shaft’s life by identifying additional mineral reserves and adjusting its mining boundaries. A proposed Kwezi Shallows project was intended to access ore in a shallower area near the existing workings, allowing production to continue for longer.The project did not progress as planned after stakeholder objections, appeals and delays in obtaining the required approvals, the company said. Without it, Kwezi’s remaining ore has been depleted faster, weakening the shaft’s ability to remain economically viable.Kwezi reported a loss of about R208m in 2024 and R91m in 2025. Stronger PGM prices supported positive margins in the first half of 2026, but Sibanye expects the shaft to return to losses in the second half as production falls.Kwezi was developed as part of the Kroondal PGM operation near Rustenburg, with construction beginning in 2006 and production ramping up from 2008. Sibanye acquired Kroondal through its 2016 takeover of Aquarius Platinum, which owned a 50% interest in the operation at the time. Sibanye later took full ownership of Kroondal, which was incorporated into its Rustenburg operation in 2025.Sibanye’s latest Mineral Resources and Mineral Reserves report estimates that Kwezi’s current reserves will sustain the shaft until 2027. The estimate is based on reserves reported at December 2025 and does not amount to a confirmed closure date.CEO Richard Stewart said the company acknowledged, and was sensitive to, the uncertainty the consultation process would create for employees and their families.“Unfortunately, given the depletion of economically mineable reserves and the corresponding declining financial outlook, it is necessary to commence consultations regarding the future of Kwezi shaft,” he said.Business Day