40% BEE stake mulled for Venetia mine employee transporters
Diamond miner De Beers has announced the launch of a major empowerment deal regarding the transport of employees to and from its operations at the Venetia diamond mine, in Limpopo.
In a high-impact, local procurement and empowerment initiative, Venetia mine, in partnership with VM Diamond Transport, is seeking to engage with businesses owned by local historically disadvantaged South Africans to become 40% shareholders in the bus companies that are soon to be established in Musina and Blouberg.
The proposed business model will see these entities buy shares and participate in the operation of an eight-year bussing contract for the Venetia mine.
The companies will also participate in a two-year business development programme sponsored by De Beers, with technical training provided by VM Diamond Transport.
The initiative aims to ensure that the empowerment partners obtain a majority share of the business within five years.
“We believe that empowerment deals, such as this one, have the power to transform the socioeconomic landscape of our mining communities. By focusing on women-, youth- and disabled [persons]-owned entities, we hope to see an impact where it is needed the most,” Venetia mine GM Benford Mokoatle noted in a statement released last month.
This empowerment deal is one of 50 expressions of interest that De Beers has set aside for local small and medium-sized enterprises operating in its labour- sending areas.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation