"The flexibility inherent in the larger regional PGM footprint will create a more robust business, better able to withstand volatile PGM prices and exchange rates," Sibanye chief executive Neal Froneman said in a statement. Sibanye outlined plans to cut 12 600 of Lonmin's 35 000 jobs over three years, with a further 890 positions at risk, helping yield annual savings of R1.5 billion by 2021. A presentation on its plans said the measures aimed to cope with platinum prices that were "lower for longer".