Wesizwe continues to pursue data recovery following breach
JSE-listed Wesizwe Platinum, which owns the Bakubung platinum mine, says data recovery experts are making significant progress with recovery and restoration efforts to reinstate all essential systems and data necessary for it to return to its normal operations, following a compromise detected in the company’s information management systems in December last year.
Immediately after the compromise, Wesizwe initiated a rigorous exercise of impact analysis and disaster recovery to assess the damage, the company points out.
It has also implemented more stringent cybersecurity and access control measures, which include software upgrades, policy updates and employee capacity-building initiatives to increase awareness and ensure the integrity of its IT systems.
Wesizwe also continues to conduct systems vulnerability assessments and penetration testing to identify and fix security vulnerabilities in its systems.
On March 10, Wesizwe advised of a delay in the publication of its audited annual financial statements for the year ended December 31, 2024, integrated annual report and notice of AGM.
The company says it continues to work with auditors and remains firmly committed to publishing the financial statements, annual report and notice of AGM as soon as possible.
Following previous updates regarding the going concern status of Wesizwe, the company says the approval process for the letter of support beyond the current funding cap of $1.5-billion is still ongoing.
This approval is required from the China National Development and Reform Committee.
Wesizwe says it is actively working with Jinchuan Hong Kong and Jinchuan Group to finalise the updated funding application report for the Bakubung project in South Africa.
It still expects to complete the application process for the funding by the end of June.
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