Today's Labour News

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numsaANA reports that the National Union of Metalworkers of SA (Numsa) said on Tuesday that it was disappointed that Samancor had not organised a meeting of the working group consisting of employees and labour representatives with Ndizani Trust members.  

The union said the working group had been hoping to meet with the trust to get information on the financial status of the trust.  Numsa explained in a statement:  "The Ndizani Trust is the employee share ownership programme (ESOP) and our members are concerned about its finances.  Our members are frustrated because they have been seeking this engagement with the trust since February.  As Numsa, we wrote several letters requesting feedback on the state of the ESOP after members questioned the pay-out which they received.  This was before the allegations emerged in the media about the former owner, Danko Koncar allegedly shifting billions of the company’s profit offshore.”  The union also indicated that it wanted Samancor to confirm exactly when an independent forensic investigation into profit shifting would begin.  A meeting with the working group and the management of Samancor has apparently been set up for 1 November.

  • Read the full original of the report in the above regard at Mining Weekly


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