Richards Bay Minerals community trusts have accused the mining company of 'trying to rewrite history' and 'cut them out' through its legal bid to have the trust deeds amended in a bid to enforce greater governance. | News24_Business
Richards Bay Minerals community trusts have accused the mining company of"trying to rewrite history" and"cut them out" through its legal bid to have the trust deeds amended in a bid to enforce greater governance.
As reported by News24 in November last year, Richards Bay Minerals approached the High Court in Pietermaritzburg to amend the trust deeds of four community trusts – those belonging to the Sokhulu, Dube, Mbonambi and Mkhwanazi communities – in a bid to enforce transparency and good governance, ensuring that funds are used for the benefit of the mine-affected communities as intended.
The trusts were established as part of a Black Economic Empowerment transaction concluded in 2009 and which entitles the trusts to dividends, and other payments intended for community upliftment initiatives. The trust deeds also entitle theRead this for free Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
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