Impala Platinum reports strike at its Bafokeng plant

The company said it had obtained a court order against the workplace boycott. “The long-term impact of this illegal strike poses a risk to sustainable jobs, particularly given the recent poor performance of Impala Bafokeng,” Impala said.

Impala acquired the assets of smaller producer Royal Bafokeng Platinum last year after a lengthy dispute with Northam Platinum.

The group and its South African competitors Anglo American Platinum and Sibanye Stillwater, which produce platinum group metals, are facing their worst crisis in decades and are cutting thousands of jobs to contain costs after metal prices collapsed last year.

Prices for platinum – used mainly by carmakers to reduce emissions – fell sharply on concerns about weak global economic growth and inventory reductions by manufacturers who had built up stocks during the Russian invasion of Ukraine.

Impala has announced plans to cut 3,900 jobs as it restructures its South African operations, while Anglo American Platinum plans to lay off 3,700 employees.

On Tuesday, Sibanye Stillwater said it had reduced its workforce by 14% from 81,500 employees at the end of 2022 to just over 70,000 currently through a combination of layoffs, natural attrition, a hiring freeze and a review of contractual arrangements.

(By Nelson Banya; Editing by Jan Harvey)