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Kumba’s Esop payouts turn backwater into a boom town
Saturday, 30 June 2012 07:00
The little town of Kathu, on the edge of the Sishen mine, is a boom town and so are the towns in the Northern Cape sending workers to SA’s largest iron-ore mine. Kumba Iron Ore, the owners of Sishen, paid more than 6,000 workers R500,000 each in December last year from an employee share ownership scheme that vested after five years. And now in Kathu, once a sleepy little backwater, all businesses report thriving trade as cash-flush Sishen workers spend and spend and spend.
- Read more at Business Day
More labour headlines are at the SA Labour News homepage
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