Black Economic Empowerment
• Platinum Group Metals RSA Pty Ltd has supported direct 26% Black Economic Empowerment (“BEE”) ownership upon the formation of all its exploration and mining ventures in South Africa since 2004;
• Platinum Group supported Africa Wide for a 26% interest in the WBJV and later consented to transactions allowing Africa Wide to broaden its empowerment base as a part of Wesizwe. Platinum Group then designed and participated in a reorganization and transfer of assets whereby Wesizwe gained an 18.5% share in its own project from Platinum Group, giving Wesizwe the necessary 100% ownership and legal ability to move its project forward.
• Platinum Group has supported its BEE partners throughout the exploration process. In the case of Africa Wide and the WBJV Project 1, the Company provided for Rand 408 million in construction funding for Africa Wide as part of the consolidation of mineral rights described above and completed in 2010.
• Platinum Group and JOGMEC supported the inclusion of BEE Company, Mnombo Wethu Consultants (Pty) Limited (“Mnombo”), for a 26% interest in the Waterberg JV Project. Subsequently, Platinum Group acquired 49% of Mnombo and agreed to cover their exploration costs until a feasibility study is completed for the Waterberg JV.
learners are currently
enrolled at Mankwe
• Platinum Group has developed a preferential procurement policy to direct all project related procurement and ensure the achievement of the targets.
• As construction of the WBJV Project 1 platinum mine has ramped up, Platinum Group has awarded material components of its capital expenditure program to companies with a Broad Based Economic Empowerment (“BBEE”) rating of level 4 and above. SME’s have been awarded contracts where the capability was available. We continue to look for opportunities to promote BEE business within a fair and reasonable tendering process to qualified contractors with targets on capital goods and local community development in line or in excess of the Charter objectives. In this regard, we actively seek to identify and develop local Historically Disadvantaged South African (“HDSA”) business.
• The WBJV Project 1 mine plans local beneficiation of platinum concentrate to a saleable export platinum product. Local beneficiation will focus on the commitments developed by the Department of Trade and Industry (“DTI”).
• Anglo Platinum has exercised a first right of refusal with respect to the smelting of platinum concentrate from the WBJV Project 1 platinum mine. It is anticipated that the beneficiation of this concentrate will occur locally in South Africa.
• The WBJV Project 1 site staffing model has been planned to meet the BEE management target and when the ramp-up in hiring of staff for onsite employment commences, compliance to this Charter requirement will be managed closely.
• Platinum Group Metals RSA Pty Ltd. has exceeded the required BEE target. BEE members have also been included at the operating company Board level. Focus has been placed on the identification and training of women, a Charter requirement set by government.
• We have maintained high targets for local hiring on site during the contracting phase. HDSA are well represented in all aspects of the business including geology, legal and finance as well as in senior management roles.
• Platinum Group has been supportive of human resource development since 2004. In particular, a number of new graduates and women in mining have advanced their experience and training while at Platinum Group. A number of our early recruits have advanced their careers significantly.
• Our SLP for the WBJV Project 1 fully embraces the spirit and letter of the Charter and other regulations in this area.
• Ten (10) learners are completing their program in early 2014 while fifteen (15) are currently enrolled at Mankwe FET College.
• Nine (9) interns have been placed with different departments at the mine for experiential training under geology, strata control, SLP and Human Resources Development and Management.
at Tswaidi High School
• We strive to make our mine development an integral and harmonious part of the greater community in the area of the Project 1 platinum mine.
• A percentage of our payroll will be invested in essential skills development in collaboration with the local Integrated Development Plans (“IDP’s”).
• We have worked hard in the mining area for the WBJV Project 1 to hire locally.
• We have established a 4,500 person data base of resumes from our local area.
• We have been able to support local scholarships and co-op programs for senior level personnel in order for them to complete their training.
• Through our purchase of surface rights we acquired the Sundown Ranch and Hotel. In recognition of its importance we encouraged the hotel to continue under local management and sustain its role as a recreation center and integral part of the community.
• The expansion of the Sports Academy from the Sundown Ranch into the local schools has been a solid success.
• Two (2) vehicles have been donated to the Moses Kotane Hospital for community health awareness training in the local municipality.
• A science laboratory at Tswaidi High School has been refurbished and equipped while a further two will be refurbished in 2014 and 2015 respectively.
• We support the national drive and objective of home ownership and to this end, will not plan any mine hostel facilities.
• Platinum Group has developed a “total cost to company” remuneration model, which makes clear provision for home ownership allowances.
• Platinum Group is working with interested parties, industry specialists and local municipal administrators for the future development of a comprehensively planned community for several thousand homes on surface rights owned by the Company.
• Platinum Group has environmental management systems that focus on monitoring, mitigation and improvement.
• Our initial monitoring of our construction has had positive results in line with guidelines.
Our reclamation plan is continuously assessed and updated.
• We provide for the safe storage of waste and design the operation so that adequate resources are in place to meet all closure obligations.
• We have systems and plans for the improvement of all aspects of the operation for health and safety and the training of all persons at our sites on health and safety.
• We encourage research and development and we utilize South African facilities and Universities for detailed scientific research adding to local expertise.