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.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weather Service issues Level 2 thunderstorm warning for parts of KZN - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The South African Weather Service has issued a Level 2 weather warning for the North Eastern parts of KwaZulu-Natal including Ulundi and Richard's Bay.
Source: SABCNews - 🏆 37. / 51 Read more »

Yadav powers India to big win despite Southee hat-trick - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.New Zealand’s Tim Southee claimed a hat-trick but Suryakumar Yadav smashed a blistering hundred to help secure India’s comprehensive 65-run victory in the second Twenty20 International at the Bay Oval in Mount Maunganui on Sunday.
Source: SABCNews - 🏆 37. / 51 Read more »