R387m bonanza for Thungela workers

JOHANNESBURG (miningweekly.com) – Greater than 3 500 workers will this month profit from the primary R387-million empowerment scheme payout of the high-flying Johannesburg- and London-listed Thungela mining firm.

The Sisonke worker empowerment scheme’s first disbursement is predicated on the dividends declared for the 2021 full-year outcomes and 2022’s half-year outcomes.

Sisonke – isiZulu for ‘we’re collectively’ – has come about via engagement with the Nationwide Union of Mineworkers and the board of trustees, made up of fifty:50 employee-employer illustration.

Trustee board chairperson Paulos Soviya described the milestone payout as testomony to Thungela’s imaginative and prescient of responsibly creating worth collectively for a shared future.  

“The intention of Sisonke is to make sure that one of the vital vital stakeholders, our workers, meaningfully profit from the expansion and income of the enterprise,” Thungela human assets head Lesego Mataboge said in a launch to Mining Weekly.

“We’re assured that Sisonke will create actual advantages for us,” mentioned worker consultant Bongani Mahungela.

The scheme, arrange as a belief, owns 5% of Thungela’s South African Coal Operations, entitling it to five% of the authorized entity’s dividends.

After taxes and different bills have been paid to manage the belief, the belief’s advantages are shared equally amongst all workers on the beneficiary register.

The underground and opencast Mpumalanga mines owned by the group are Goedehoop, Greenside, Isibonelo, Khwezela, AAIC (working the Zibulo colliery), Mafube Coal Mining, and Butsanani Power.

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