Mail & Guardian reports that the battle for control of the Association of Mineworkers and Construction Union (Amcu) has shifted to its members’ retirement savings.  

Amcu president Joseph Mathunjwa has appointed himself chairperson of the union’s new fund, the Igula Umbrella Provident Fund, despite the trustees electing his deputy, Sanele Myeza, to the position.  Mathunjwa and Myeza have been at odds because of the deputy’s increasing support in the union and calls for a national congress to elect new leaders.  At stake is not only the battle for control of the union members’ monthly subscriptions, but also their retirement savings reportedly worth more than R7-billion that the union has demanded should be shifted to the Igula fund.  Amcu’s bid to have its members’ retirement savings moved from investment funds chosen by the mining companies to Igula has been described by gold mining insiders as “one of the most contested discussions” happening at the platinum and gold mines.  At the current gold mining wage negotiations, Amcu has submitted a demand for the transfer of the retirement savings of Amcu members to the union’s new fund.  A Minerals Council (i.e. Chamber of Mines) spokesperson said this would be negotiated at a company level after the implementation of the wage deal.  The platinum companies received the same demand three years ago but refused to do it because of reservations about Igula’s compliance with the Financial Sector Conduct Authority.  The Labour Court this month dismissed Amcu’s application to force Anglo American Platinum to transfer its members’ savings to Igula.  Impala Platinum is being equally cautious.

• Read more of this Mail & Guardian report by Govan Whittles at SA Labour News
• Read too, Déjà vu as gold mine firms face the same spat Amplats saw off, at BusinessLive

Get other news reports at the SA Labour News home page