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Platinum producers have announced that an 'in principle' agreement has been reached in the five-month strike over wages.

Mining companies Amplats, Implats and Lonmin said on Thursday that undertakings had been reached with the leadership of the Association of Mineworkers and Construction Union (Amcu) in respect of wages and conditions of employment.

Amcu is expected to discuss the 'in principle' undertakings with its members to seek a mandate to accept offers which, if given, will bring to an end 21-week long strike.

The mines said they will receive feedback from Amcu on Friday.

Amcu members downed tools on January 23, demanding a basic monthly salary of R12 500.

The strike has reportedly cost platinum producers R21 billion in lost revenue and workers R1 billion in lost wages.

The Minister of Mineral Resources, Ngoako Ramatlhodi, on Tuesday announced the withdrawal of an inter-governmental task team in the wage dispute in order to exert pressure on platinum producers and Amcu to move towards a common ground.

The task team was set up two weeks ago, following the appointment of the new minister. –