De Beers’ Venetia mine launches multimillion-rand empowerment deal
JOHANNESBURG (miningweekly.com) – Diamond miner De Beers has announced the launch of a major empowerment deal related to the transportation 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, are 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 transportation contract for Venetia mine.
In support of the De Beers socioeconomic development strategy, these 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 is aimed at ensuring these 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 owned entities, we hope to see an impact where it is needed the most,” Venetia mine GM Benford Mokoatle noted in a statement on Wednesday.
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 their labour-sending areas.
Similar opportunities include a partnership with Bridestone, Global Wheel and Willards to establish a locally owned distribution centre for tyres, rims and batteries that will service Venetia mine and the wider community.
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