Rustenburg Platinum Mines (RPM), the wholly-owned subsidiary of Anglo American Platinum is set to cut up to 2,000 jobs at its Union and Twickenham mines in South Africa.
The latest move is part of restructuring plans at these mines.
RPM has started a consultation process in terms of section 189 and 189A of the Labour Relations Act in this regard.
Under Section 189 process, the company will carry out a 60-day consultation with trade unions and affected employees.
In its 2015 annual results, Anglo American said there have already been significant restructuring efforts at the Union mine to reduce overhead and operating costs.
The Union north and south mines were consolidated into one mine during 2014.
All expansionary project decisions were also delayed until at least 2017 and the Twickenham project was suspended in 2015 as a result.
Considering various alternative options, RPM proposes to undertake a further restructuring process at Union mine to ensure that the operation is sustainable.
The Twickenham project is planned to be placed on care and maintenance.
Anglo American Platinum financial director Ian Botha said: "Anglo American Platinum has no choice but to manage the business for the current environment and we need to take decisive action to ensure the sustainability of the business.
"Having considered all alternative options, it is with regret that the company finds itself in a position where further restructuring now needs to take place, which will impact a number of our employees."
Image: Anglo American's Union mine in South Africa. Photo: © Copyright Anglo American.