Modern Quarrying October-November 2016

AROUND THE INDUSTRY

Industry committed to transformation Chamber of Mines president Mike Teke recently reaffirmed the industry’s com- mitment to transformation at the recent Electra Mining Innovation in Mining workshop hosted by Women in Mining ARC is a fully black-owned and controlled investment com- pany focusing on delivering exceptional returns on equity. It is a strategic long-term investor with no predefined exit strategy. “It invests in businesses that can grow exponentially or acquisitively and ARC can enable and accelerate this growth by providing funding where necessary,”says Afrimat CEO Andries van Heerden. “Afrimat is of the view that this will create a long-term and sustainable BEE partner with certainty around shareholding which will build further value for us,” he says, adding that “ARC has also shown a willingness in wanting to work with Afrimat on our proposed growth strategy.” The purchase of Afrimat shares by ARC will facilitate the ARC makes offer for stake in Afrimat African Rainbow Capital (Pty) Ltd (ARC) has made an offer to pur- chase an 18,36% stake in Afrimat Empowerment Investments. The transaction is subject to various conditions precedent, including the participants of the Afrimat BEE Trust voting in favour of the offer.

settlement of all debt outstanding in relation to the Afrimat shares held by AEI and the distribution of the economic benefits under the current scheme to its participants, who are all black employees. The transaction is subject to a number of conditions precedent which includes approval of the offer by the partici- pants of the Afrimat BEE Trust. ARC has agreed to be locked in for at least four years on suc- cessful conclusion of the purchase of the Afrimat shares. In order to facilitate the purchase of Afrimat shares by ARC, the current trust deed of Afrimat BEE Trust is being amended. These changes will be sent to Afrimat shareholders in a circular and will also be provided to scheme participants for approval. ARC is owned by Ubuntu-Botho Investments, which is in turn owned by Patrice Motsepe’s family trust, along with a number of broad-based empowerment groupings and the Sanlam Ubuntu- Botho Community Trust. www.afrimat.co.za

with women now representing more than 10% of people employed in mining activities. According to Teke, in a transforming country, mining is continually challenged to deliver on its transformation objectives and that the empowerment of women is critical. While the industry acknowledges the significant increase in the number of women in the sector since the laws pre- venting them for working underground were scrapped, more needs to be done to ensure that yet more women feel that the mining industry is one in which they have a career and a future. “We have to be able to work in a world where skin colour and gender are not an impediment to people’s dreams and aspirations. Until we get there, we are going to have to create a level play- ing field. And that means transformation programmes that must be put in place, and must work. “Lip service is simply not an option, let’s make way for lipstick,” he says on a lighter note. www.chamber.co.za

South Africa (WiMSA). The represen- tation of women in the mining sector has improved significantly from around 11 400 in 2002 to some 53 000 women working in the mining industry in 2015,

We have to be able to work in a world where skin colour and gender are not an impediment to people’s dreams and aspirations.

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MODERN QUARRYING

October - November 2016