VBKom's risk management services contract extended
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Company Announcement - VBKom’s contract for the provision of Risk Management services to Kumba Iron Ore’s flagship Dingleton Resettlement Project, has been extended for yet another year until the end of the project in 2016.
VBKom was appointed as an independent, external Risk Advisor and –Consultant to the project in March 2014, shortly after the project was given the go-ahead to move into Implementation. The Dingleton Resettlement Project is a landmark R4.2bn resettlement which aims to relocate a whole community in a “...four-to-six-year resettlement plan would see it building more than 500 houses, new pre-primary and primary schools and new sports facilities, while improving municipal libraries...” <refer www.engineeringnews.co.za
As part of their contract VBKom will execute and manage all aspects relating to Risk, including Qualitative, Quantitative, Schedule and Capital Funding risks. As part of their appointment VBKom also needs to report into Kumba’s Group Enterprise Risk Management and Group Audit and Compliance Committee structures.
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