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» » » » » Retrenched ZIMASCO employees bemoan judicial management decision

Davison Marenga

Zvishavane – Retrenched Zimbabwe Mining and Smelting Company (ZIMASCO) Peak Mine employees in Shurugwi have decried the placing of the great dyke mining giant under judicial management, saying they have lost hope of successfully laying claims to get their retrenchment packages.
Many workers who were shown the exit door in 2014 when the company down sized its operations citing diminishing ferrochrome ore deposits felt that the move by government to put ZIMASCO under judicial management has shuttered their hopes of getting their dues.
Section 209 of the Companies Act (Chapter 24:03) provides a company under judicial management with immunity from meeting its liabilities.
The company applied for judicial protection after losing confidence in the future of its operations due to a number of factors affecting the mining industry both locally and internationally.
"The company cannot be taken to court for unpaid retrenchment packages since it's under judicial management. We don't know which platform to take so that we can be given our money," said one disgruntled former employee. 
The sacked workers blamed the Chinese-run company of being inconsiderate to their plight by not paying them their salaries when top company officials were getting their monthly salaries without much hustle.
"It's only the likes of us who are suffering; we can't afford a decent living now but their families are enjoying every day. It seems we worked for nothing all our lives. Something must be done so that we get our money," said Mr. Mtambalika.
ZIMASCO is one of the many companies that were affected by the downward spiral that has been ravaging the country for the good part of the previous twenty years.
A downward slide in global metal prices coupled with diminishing ore reserves at the company's Shurugwi shafts forced the company to down size its operations and retrench more than 750


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