Precious metals producer Sibanye-Stillwater (JSE: SSWJ) (NYSE: SBSW) confirmed Friday that 260 workers remain trapped underground at its Kloof gold mine, about 60 km west of Johannesburg, South Africa.The company said miners are safe and have access to food and water. They are gathered at an underground assembly point within one of Sibanye’s deepest operations. Rescue efforts are underway, but they have not yet been brought to the surface.An early investigation found that a sub-shaft rock winder skip door opened unexpectedly at the loading point, damaging Shaft 7 and preventing safe passage.After a detailed risk assessment, Sibanye determined it was safer for workers to stay at the sub-shaft station than attempt a long walk to the surface.The company had initially expected to hoist all employees by midday Friday. As of 2:45 p.m. local time, however, the workers remained underground.The National Union of Mineworkers (NUM), which represents workers at the Kloof mine, criticized Sibanye’s handling of the incident.“We are very concerned because the mine did not even make this incident public until we reported it to the media,” NUM spokesman Livhuwani Mammburu said.Mammburu added that the miners have now been underground for nearly 24 hours and that Sibanye has repeatedly changed its timeline for the rescue.Mining accidents remain a grim reality in South Africa, home to some of the world’s deepest and oldest gold mines. In January, at least 78 bodies were recovered from an illegal mine after police cut off supplies in a crackdown that highlighted the risks of unregulated mining. The government estimates illegal mining cost the country over $3 billion last year.The Kloof mine produces 14% of Sibanye’s total gold output and includes two other active shafts. In 2023, the company closed Shaft 4 due to safety and economic concerns. At year’s end, the mine employed about 8,900 people, including contractors.
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