Joseph Mathunjwa on why AMCU is going after Samancor

Trade union AMCU has accused Samancor, the world's second-largest supplier of Ferrochrome, of engaging in illicit financial activity in South Africa. AMCU alleges that Samancor has funneled up to $1.9 billion out of the country through profit shifting and other questionable practices. The union recently filed a court application in the Johannesburg High Court, claiming that its members have been shortchanged by Samancor's actions. CNBC Africa's Kopano Gumbi investigated the issue and spoke with Joseph Mathunjwa, the president of AMCU, to shed light on the matter. Mathunjwa expressed the union's commitment to fighting inequality and ensuring economic emancipation for marginalized workers in the country. He emphasized the need to scrutinize companies like Samancor to prevent any suspicious dealings that could harm workers' livelihoods. AMCU has been tracking Samancor's activities for over three years, uncovering alleged financial losses amounting to $1.9 billion. While specific details on the calculation of this figure are still emerging, AMCU remains resolute in holding Samancor accountable for the missing funds. The union's primary goal in pursuing this case is to secure fair compensation and benefits for workers who have suffered due to the alleged financial misconduct. When questioned about the potential Platinum Wall strike, Mathunjwa clarified that the union's aim is not to push for a strike but to seek improved conditions for its members through negotiations. The outcome of discussions with the CCMA will determine the course of action regarding the strike. Mathunjwa expressed hope for a mutually beneficial resolution to avoid industrial action. Meanwhile, Samancor has until next week to respond to the allegations leveled against it, with AMCU waiting for the company's affidavit to be filed in court. CNBC Africa's efforts to reach out to Samancor for comment have yet to yield a response. The unfolding situation underscores the ongoing struggle for fair labor practices and financial transparency in the South African mining industry, with AMCU taking a strong stance against alleged illicit financial flows that harm workers and the economy.