Sibanye Stillwater (SBSW) will consult with workers over the proposed restructuring of its Kwezi shaft at its Southern Africa PGM operations, the company said Tuesday.

Kwezi is nearing the end of its economic life as mining reaches the limits of its approved mining licence area, while stakeholder objections, appeals and delays in required approvals for the Kwezi Shallows project have accelerated the depletion of remaining reserves, the company said.

Kwezi is expected to return to losses in H2 2026 as production declines, with the proposed restructuring potentially affecting approximately 781 employees and 333 contractor employees.

No final decision has been made, with consultations set to explore ways to minimize job losses, mitigate the impact on affected employees and improve the shaft's viability, it added.

Sibanye Stillwater shares were up 1.6% in premarket activity.