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Bakubung Platinum Mine enters Section 189 consultations and operational update
WESIZWE PLATINUM LIMITED
(Incorporated in the Republic of South Africa)
Registration number: 2003/020161/06
Share code: WEZ
ISIN number: ZAE000075859
("Wesizwe" or "the Company")
BAKUBUNG PLATINUM MINE ENTERS SECTION 189 CONSULTATIONS AND
OPERATIONAL UPDATE
Shareholders are advised that Bakubung Minerals (Pty) Ltd ("Bakubung") will enter into
consultations in terms of Section 189A of the Labour Relations Act 66 of 1995 ("Section
189A"), as amended with organized labour and other affected stakeholders, regarding the
restructuring of its operations.
The initiation of the Section 189A consultation process follows a decision by the board of
directors to discontinue the Company's 1 Mtpa production strategy with immediate effect. In
its place, the Company will pursue a revised development strategy based on a single-stage
ramp-up to a 3.5 Mtpa operation. This 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.
Through the formal Section 189A consultation process, which will be facilitated under the
auspices of the Commission for Conciliation, Mediation and Arbitration, the Company and all
affected stakeholders 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. Maintaining the current headcount
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.
Shareholders are further advised that to facilitate meaningful engagement during the
consultation process and create an environment that allows all parties to focus on the matters
under consultation, Bakubung will implement a temporary operational shutdown for a period
of three (3) weeks from 18H00 on 03 June 2026, 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.
Johannesburg
3 June 2026
Sponsor
PSG Capital
Date: 04-06-2026 07:05:00
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