The company also added in the statement that it would invest R4.3 billion ($305.14 million) in SAEC’s Klipspruit Life Extension project.
NUM says it’s concerned about the job cuts, saying it’s done deliberately as a political play against workers.
Sibanye Gold on Thursday announced planned retrenchments of around 7,400 employees at its Gauteng and Free State operations.
The chamber says deliberations with unions about the withdrawal of 7 coal firms from the central wages negotiations chamber have collapsed.
Global oversupply and a drop in coal prices to 7-year lows have hit miners and coal exporting countries hard.
The union says its members will spend the weekend reviewing the new offer.
The talks come at a time when producers are closing some shafts in the wake of softer coal prices.
South Africa had 3.61 million tonnes of stock at the terminal in April.
