COMPANIES: Richards Bay Minerals files court order to ‘vary’ community trust deeds after mismanagement concerns

RBM said in a statement on Friday it had “brought forward an application to the KwaZulu-Natal High Court seeking an order to vary the trust deeds”.

Reading between the lines, it seems the trustees have been stuffing things up, which may help to explain the levels of social unrest in the area. “Litigation is a last resort and we have always preferred to achieve trust reform through amicable means. Unfortunately, all prior attempts to reach a negotiated outcome have been unsuccessful, and with the court application we hope to achieve a change in the trust deeds that supports our goal of providing our host communities with long-term, broad-based empowerment,” RBM Managing Director Werner Duvenhage was quoted as saying.

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