Company Announcement - In 2014, Hulamin and South32 have collaborated to form Aluminium Beneficiation Initiative, an economic development initiative focused on developing and supporting high-level entrepreneurs in aluminium fabrication or beneficiation. The initiative plans to identify, support, and train 100 - 150 entrepreneurs and guide them into sustainable businesses within three years which will result in these businesses consuming at least 100 tons of aluminium each.
A key objective of the ABI is to grow local market usage of aluminium. The latter will have a positive impact on the local economy by generating job creation and providing an opportunity for skills transfer. The value-add downstream aluminium projects envisaged will ideally result in products which are exportable and which look at import replacement. The project will commence in the last Quarter of 2015. A foundational element of ensuring the success of the participating entrepreneurs, and ultimately the success of this project, include putting into place mentors and coaches who will guide, advise, provide general direction to the selected candidates. This will be required particularly in so far as manufacturing, fabrication and technical / technology aspects of the businesses.
The aluminium industry in South Africa depicts an industry that exports large volumes of un-beneficiated material whilst at the same time imports finished products. Through this Initiative, Hulamin and South32 want to promote a business model for the industry that will encourage local sales through significant beneficiation or value add. Small Enterprise Financial Agency [sefa] has partnered with the Initiative by putting up an Aluminium Fund to the value of R80 million.