Published on 7th November 2008
The women-led black-owned manganese start-up has managed to deliver R223-million to its shareholders, many of them near-mine communities and including disabled people, ahead of production.
At the same time, the black economically empowered (BEE) company is retaining R1-billion in the kitty to invest further in the joint venture it has managed to secure with the world’s biggest steel company, ArcelorMittal.
The joint venture is currently sinking a shaft in the Northern Cape, where it will mine manganese and also build a sinter plant, as well as building a smelter plant at Coega, near Port Elizabeth.
As a consequence, Kalagadi Resources, the associate company of which is Kalahari Resources, has evoked this comment from the Industrial Development Corporation (IDC) mining head Abel Malinga: “There are quite a number of things that can serve as an example to other BEE companies.”
The IDC has already received a dividend of R317-million for its take-up of 20% equity in the company – a return of more than 400% in 18 months.
“The model works,” says Kalagadi Manganese chairperson Daphne Mashile-Nkosi
At the same time, the black economically empowered (BEE) company is retaining R1-billion in the kitty to invest further in the joint venture it has managed to secure with the world’s biggest steel company, ArcelorMittal.
The joint venture is currently sinking a shaft in the Northern Cape, where it will mine manganese and also build a sinter plant, as well as building a smelter plant at Coega, near Port Elizabeth.
As a consequence, Kalagadi Resources, the associate company of which is Kalahari Resources, has evoked this comment from the Industrial Development Corporation (IDC) mining head Abel Malinga: “There are quite a number of things that can serve as an example to other BEE companies.”
The IDC has already received a dividend of R317-million for its take-up of 20% equity in the company – a return of more than 400% in 18 months.
“The model works,” says Kalagadi Manganese chairperson Daphne Mashile-Nkosi
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