The gold mining house say even though Trade Union Solidarity has accepted the final offer, the agreement cannot be signed because of the negotiation terms.
Solidarity is one of the smaller unions at the five gold companies and said it would accept the offer under duress to avoid job cuts.
But the National Union of Mineworkers (NUM) and the Association of Mineworkers and Construction Union (Amcu) have formally declared a dispute with the companies and are due to hold talks under the supervision the Commission for Conciliation, Mediation and Arbitration.
