The deal has been signed by Mineral Resources Minister Ngoako Ramatlhodi, the Chamber of Mines and unions - NUM, UASA and Solidarity.
This comes after several mining companies announced plans to collectively shed thousands of jobs.
Ramatlhodi says he's hopeful that they will be able to save as many jobs as possible.
"We recognise that we may not be able to save all the jobs and that's why other measures kick in such as what has been referred to a government that begins to contribute towards retraining and re-skilling and that the business also bring insight on board.
"So we are looking at a multi-faceted intervention so that's what this basket provides," he said.
(File photo: Gallo Images)
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