Sibanye-Stillwater’s (JSE: SSW) (NYSE: SBSW) board and executive management decided to contribute a third of their remuneration for the next three months to South Africa’s National Solidarity Fund.
The fund was established by the Cyril Ramaphosa administration to cushion the impact of the covid-19 pandemic on the most vulnerable members of the South African society.
Sibanye-Stillwater employs over 80,000 people in South Africa
Sibanye-Stillwater’s decision emulates that of Ramaphosa and his deputy president, ministers and deputy ministers who will donate a third of their salaries for the next three months to the Solidarity Fund.
When announcing this move, the government also asked companies for additional support in the national fight against the novel coronavirus.
“The safety, health and wellbeing of our employees, contractors and communities is our primary concern and every effort continues to be made to identify and minimise the risks posed by covid-19 to employees and contractors,” the Weltevreden Park-based firm said in a media statement. “We are however mindful of the critical support we provide for thousands of employees and their families, communities and small businesses as well as the essential financial contribution we make to both regional and national economies. In this regard, we continue to engage with all stakeholders on ways to minimise the impact on the SA economy and ensure our sustainable contribution to the SA economy.”
Starting today, all of Sibanye-Stillwater’s gold and PGM operations in South Africa are under care and maintenance.
The company, however, has received permits to carry out limited mining and processing activities, which are subject to the implementation of agreed protocols to address covid-19-related health and safety risks.