Workers at the Phalaborwa Mining Company have vowed to continue their strike until management addresses their demands. The workers who started their strike on Wednesday are demanding the payment of dividends from their shares from the mine.
Workers gained 10% of the shares in 2013, but they say they have not been receiving dividends. They say the company is offering to pay dividends for 1% of the shares, but they want the dividends to be calculated according to the total number of shares they own.
“We want our own shares where by our shares is 10%, exactly. Then the company neh they are hitting us under the belt. The issue is we need our own money that they invested. So we have been waiting for eight years. The money that they promised to gave us is R8900 for eight years.”
The mine’s spokesperson, Abby Ledwaba, has confirmed that the workers have 10% shareholding in the company. He says the loan agreement to buy the shares was fully paid in 2021.
Ledwaba says workers have been receiving dividends on an annual basis but have not received 100% of the dividends as the other portion has been paying off the loan.
“We are currently experiencing an illegal strike with the employees at Phalaborwa mining company. We bring stability at the mine and also to ensure that we are able to protect the economy of Phalaborwa we haven’t managed to reach any agreement today.”
