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Anglo American Platinum (Amplats) has revealed that an agreement to preserve jobs has been reached with stakeholders.

In January 2013, Amplats announced its proposals to create a sustainable, competitive and profitable platinum business for the long term benefit of all its stakeholders, which had the possibility to shed about 14 000 jobs.

Following the announcement of its proposals, Amplats and its recognised unions agreed to suspend the section 189 consultations to allow for engagement to take place with the Department of Mineral Resources (DMR) and the unions.

Amplats advised that the parties spent the past week engaging on interventions to reduce the impact of restructuring on mineworkers, which has resulted in this process now having reached a stage whereby parties have agreed on measures and mitigation plans that will preserve jobs.

Amplats, government and the unions will seek to resume the structured process under the auspices of the Commission for Conciliation Mediation and Arbitration (CCMA) on Friday 24 May. The basis of the structured process will be informed by this agreement, the company said in a statement.

The platinum miner said that all parties worked diligently with the DMR to get to this point and agree that the measures will serve as a basis for meaningful consultation with employees and their representative structures.

The company added that parties are committed to ensuring a sustainable platinum mining industry that will contribute positively to the South African economy.

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