Modern Quarrying October-November 2016

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October - November 2016 MODERN QUARRYING 5
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
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,
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.
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.
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
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.
AROUND THE INDUSTRY
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.