Anglo American Platinum has revealed it is cutting its exposure to labour unrest in South Africa’s turbulent mining industry with the confirmation that four shafts at one mine are to be mothballed and another operation will be sold entirely.

The news was made public yesterday in the company’s long-awaited platinum review, which indicates its plans for the South African business.

The restructuring measures have sent shockwaves through the local mining sector, as thousands of jobs will be lost.

“As a result of the proposed changes to the business, a total of up to 14,000 jobs may be affected, 13,000 of which will be in the Rustenburg area,” the company said.

Much of last year’s labour unrest in the mining sector was centred around Rustenburg in the North West province.

Mining union officials reacted swiftly to yesterday’s review. National Union of Mineworkers general secretary Frans Baleni said the union would “engage the company in a bid to save these jobs” and appealed to “ workers to work together to safeguard their own jobs”.

Union leaders at the company’s Rustenburg operations threatened a strike across its entire South African operations if the indefinite closures go ahead. The price of platinum rose by 1.6 per cent following news that the company’s restructuring plans mean production will be cut by a fifth or 400,000 ounces.

The value of platinum, which is used in the making of jewellery and catalytic converters for cars, is likely to increase further, as South Africa is home to about 80 per cent of the world’s known platinum reserves.

Anglo American, which owns almost 80 per cent of its South African subsidiary Anglo American Platinum, saw its profits take a hammering in 2012 due to the labour unrest that forced numerous operations to stop production and left 50 people dead.

Analysts say the company could be worth 20 per cent more than its current value if it breaks off the South African side of its operations.