Richards Bay Minerals loses trustee policy appeal in Maritzburg High Court
RBM addresses Pietermaritzburg High Court judgement over community trusts
The Pietermaritzburg High Court has dismissed with costs an application by Richards Bay Minerals (RBM) to vary the existing community trust deeds and supplement the board of trustees.
This was in a bid to modernise trust provisions, improve controls and accountability, and introduce provisions relating to social investment policies of the trusts.
ALSO READ: Richards Bay Minerals calls for KZN government intervention
In its court papers, the multinational mining company requested the High Court to amend the beneficiary provisions by removing Amakhosi and their families as trustees and beneficiaries under Section 13 of the Trust Property Control Act, 1998…
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