Former employees of Eastern Platinum’s (Eastplats) Crocodile River Mine are still waiting for their unclaimed provident fund benefits 10 years after they were retrenched.
Crocodile River in Brits, the North West, is a subsidiary of Barplats, Eastplats’ most advanced asset, which was placed on care and maintenance in 2013, due to a combination of falling metal prices and a low global outlook, which hit the operation’s prospects.
Pretoria labour lawyer Tommy Bangani, who represents more than 150 employees retrenched in 2013, blamed Alexforbes for dragging its feet in making the payouts.
“For the past six months, we’ve been trying to get the Fund Administrator [Alexforbes] to pay out the provident fund benefits of the retrenched former employees and/or their beneficiaries and dependents without any success,” he said Bangani.
When Bangani contacted Alexforbes on behalf of the former workers, it appointed a tracing company to contact the workers directly, “so that they can pay them the minimum benefits offered by the administrator of the provident fund”.
Bangani said the employees had been dealt a double blow since they were denied their provident fund benefits, and a promise to re-employ them did not materialise. “They were promised they would get their jobs back once the mine reopened. However, 10 years later, when the mine reopened its doors, mainly locals were employed.”
To release provident fund benefits to unclaimed members, Alexforbes requires relevant supporting documents, a fully completed claim form, proof of company employment, or fund membership to be submitted for reviewing and processing; provided all the requirements are met
— Alexforbes
Last month, Business Times reported on how insurance companies, retirement funds, and the JSE were sitting on more than R90bn in unclaimed benefits and were trying to trace the beneficiaries.
Alexforbes said since October 2013 active members of Barplats Mines started contributing to the Alexander Forbes Umbrella Fund, and as part of the winding-down process, unclaimed members in the Barplats Provident Fund were transferred to the Alexander Forbes Unclaimed Benefits Preservation Fund.
“As of July 11 2025, there are 623 unclaimed benefits linked to the terminating Barplats Provident fund still payable, valued at approximately R4.6m,” it said.
The company said it was still trying to trace the beneficiaries. “Tracing exercises within the Alexander Forbes Unclaimed Benefit Provident Preservation Fund are conducted regularly through fund-approved tracing agents, in line with a mandate provided by the trustees as well as the fund’s tracing policy.
“To release provident fund benefits to unclaimed members, Alexforbes requires relevant supporting documents, a fully completed claim form, proof of company employment, or fund membership to be submitted for reviewing and processing; provided all the requirements are met,” the company said.
Wylie Hui, CFO and corporate secretary at Eastplats, said due to plunging platinum group metal (PGM) prices, mining operations were suspended in 1991, but the mine was kick-started in 2001, then suspended again in 2003.
He said in 2005, underground stopping sections were refurbished, and mining continued until the mine was placed under care and maintenance in 2013. “Following significant improvements in the PGM market and a cost-effective redesign of the mining methodology, Crocodile River Mine restarted operations in 2024.
“Crocodile River Mine is currently ramping up production and employs more than 1,200 employees, excluding contractors. Through a CCMA process, including engagement with unions, predominantly local and former employees were reemployed when the mine reopened, excluding those who had reached retirement age.
“Barplats provided a provident fund to former employees, which wound up in October 2022. Some former employees were traced; however, there were some who could not be located. Their funds are currently kept in an unclaimed benefit fund account and remain available to be claimed.”
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