BEE

DiamondCorp is fully committed to the empowerment objectives of the Mineral and Petroleum Resources Development Act (MPRDA) and the fulfillment of the accompanying Mining Charter.

The Mining Charter requires that companies:

  • Achieve 15% ownership by Historically Disadvantaged South Africans (HDSAs) in terms of equity or attributable units of production by 2009; and
  • Achieve 26% HDSA participation by 2014

As the Lace Diamond Mine is the operating subsidiary of DiamondCorp in South Africa, the company's BEE ownership structure has been put in place at that level.

DiamondCorp entered into an arrangement with Pembani Group Proprietary Limited ( formerly Shanduka Resources) and Sphere Investments, both leading BEE entities, that those companies would each acquire a 13% interest in Lace. This brings the Lace BEE ownership by HDSA companies to 26%, meeting the Charter’s long-term equity requirements.

Izimbiwa Associated Companies

Izimbiwa Associated Companies (Formerly Shanduka Resources) is a black owned and managed investment company established in November 2000, with interests in resources, energy, financial services, property, technology and communication.  Izimbiwa is held under the Pembani Group, a black-owned and managed investment company started by businessman Cyril Ramaphosa.  Phuti Malabie is the CEO of Pembani.

 

Sphere Holdings

Sphere Holdings

Established in 2003, Sphere is an empowered South African investment company seeking investments in leading medium and large South African companies. Sphere’s current investments are primarily in the industrial services sector and serve a common customer base. The company’s broad-based approach to empowerment means that more than 5 million beneficiaries stand to gain from their investment successes - 15% of the shares in Sphere are held by four welfare organisations providing for the physically and mentally challenged, disadvantaged communities and education.
www.sphereholdings.co.za

Latest presentation

Presentation, June 2014

June 2016

Investor presentation [PDF - 2.4MB]

 



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