NUM members protest outside IDC head office as corporation moves to liquidate Cast Products SA, threatening hundreds of jobs

JOHANNESBURG — The National Union of Mineworkers (NUM) confirms that its members at Cast Products SA are currently staged in a protest outside the offices of the Industrial Development Corporation (IDC). This action follows the IDC’s sudden and destructive decision to reject a viable rescue deal, opting instead to push the company toward liquidation.

Cast Products SA entered a voluntary Business Rescue process in 2022 with a clear mandate: to stabilize the business and secure a suitable equity partner. After years of uncertainty, a deal was finally reached and approved by the Business Rescue Practitioners (BRPs) that would have seen a new shareholder take over the business and resume operations.

Despite this progress,…