Venetia Mine opens empowerment deal to community

De Beers has recently announced a multi million Rand empowerment deal that will see businesses owned by historically disadvantaged South Africans (HDSA) will have the opportunity to become partners in companies tasked with transporting employees to and from operations at the mine. In a one of a kind high impact local procurement and empowerment initiative, Venetia Mine in partnership with VM Diamond Transport are seeking local HDSA owned businesses to become 40% shareholders in the soon to be established bus companies in Musina and Blouberg, says Tarryn Genis, Senior Corporate Affairs Officer for Communications at Venetia Mine, in a media statement.
“The proposed business model will see these entities purchase shares and participate in the operation of an eight year bus transport contract for Venetia Mine. In support of the De Beers socio-economic development strategy, these companies will participate in a two year business development programme sponsored by De Beers with technical training provided by VM Diamond Transport. The aim is for these empowerment partners to obtain a majority share of the business within five years,”’ the statement reads.
This empowerment deal is one of fifty expressions of interest that De Beers has set aside for local small and medium enterprises operating in the company’s labour sending areas. Similar opportunities include a partnership with Bridgestone, Global Wheel and Willards to establish a locally owned distribution centre for tyres, rims and batteries that will service Venetia Mine and the wider community.
Venetia Mine General Manager, Benford Mokoatle welcomed the initiative. “We believe that empowerment deals such as this one have the power to transform the socio-economic landscape of our mining communities. By focussing on women, youth and disabled owned entities we hope to see an impact where it is needed the most,” he said.

Story: MARKI FRANKEN
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