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Reuters reports that Sibanye Gold lost R135 million in revenue in the 12 months to June at its Kroondal platinum mine due to government safety stops, the company indicated on Thursday.
Jean Nel, CE of Sibanye’s platinum division, said in a presentation that the mine also lost R56 million to a wildcat strike and R8 million in revenue to community protests. Government-mandated safety stops are a thorn in the side of the mining industry, which says they are often not needed. Sibanye CE Neal Froneman earlier said the Department of Mineral Resources was “destroying hundreds of millions, if not billions of rand in value” because of unnecessary safety stops. One industry complaint is that entire mines are often shut for infringements when it might be more appropriate to close just one section.
- Read this report by Ed Stoddard at Mineweb
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