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Anglo American Platinum signs agreement with Mapela Traditional Community to benefit surrounding communities

18 April, 2016

Mapela Traditional Community to establish a corporate structure to benefit the community

The Mapela Traditional Community (MTC) is about to establish a corporate structure to manage its mining, social and commercial interest to benefit the community. The governance structure will consist of a controlling trust – the Mapela Trust – whose beneficiaries are the members of the MTC community; a fully-owned holding company – the MTC Holding Company – and several operating companies to commercialise its investments.

The Mapela Trust will be managed by a board of trustees chaired by its traditional leader Kgoshi David Kgabagare Langa and will include one trustee appointed by the Traditional Council, one appointed by the Council of Headmen, two Independent Trustees, and two trustees elected by the community.

This is similar to the process the Royal Bafokeng Nation (RBN) followed in corporatising its mineral assets under the control and management of Royal Bafokeng Holdings (Pty) Limited (RBH) to actively manage these for the benefit of the RBN.

The MTC consists of 42 villages and communities adjacent to Anglo American Platinum’s Mogalakwena Mine in Limpopo. The mine leases land from the community for some of its mining activities. Anglo American Platinum’s operating company, Rustenburg Platinum Mines Limited (RPM), and the MTC have recently signed a Settlement Agreement in terms of which R175 million will be paid to the MTC to settle a number of legacy issues unrelated to the leases. These funds will provide seed capital for creating sustainable, long-term and diversified growth for the community.

The Settlement Agreement established a new framework to regulate and streamline RPM’s ongoing relationship with the MTC in line with the Company’s commitment to improving the standard of living of members of communities that are impacted and affected by its mining activities. RPM will have representation on both the MTC Trust – for a limited period – as well as on operating company level. A number of operating companies are envisaged, including joint ventures and partnerships with other parties, to derive commercial benefit for the community.

The first R90 million of the settlement amount has already been paid into a trust account and will be paid over to the MTC when the corporate governance structure has been established, to be followed by a final payment of R85 million thereafter. The corporate governance structure is scheduled to be established before end-June 2016.

Speaking after the signing of the agreement, Chris Griffith, Chief Executive Officer of Anglo American Platinum, said “The Mapela Trust represent an investment into the future of the community, which will significantly impact the quality of life of community members and also presents an opportunity to further advocate Anglo American Platinum’s Alchemy vision of supporting sustainable communities around the company’s operations.

Kgoshi Langa welcomed the finalisation of the settlement agreement, he said “This agreement will ensure that we see tangible benefits flowing to the community. It is time we reduce our reliance on the mine to create jobs. We should create our own.”

For further information, please contact:

Investors Media
Emma Chapman Mpumi Sithole
Head of Investor Relations
Media Manager
 
Tel: +27 (0)11 373 6239 Tel: +27 (0)11 373 6246
Email: [email protected]
Email: [email protected]
 

About Anglo American Platinum:
Anglo American Platinum Limited is a member of the Anglo American plc Group and is the world’s leading primary producer of platinum group metals. The company is listed on the Johannesburg Securities Exchange (JSE). Its mining, smelting and refining operations are based in South Africa. Elsewhere in the world, the Group owns Unki Platinum Mine. Anglo American Platinum has a number of joint ventures with several historically disadvantaged South African consortia as part of its commitment to the transformation of the mining industry. Anglo American Platinum is committed to the highest standards of safety and continues to make meaningful and sustainable difference in the development of the communities around its operations.

www.angloamericanplatinum.com

Anglo American is a global and diversified mining business that provides the raw materials essential for economic development and modern life. Our people are at the heart of our business. It is our people who use the latest technologies to find new resources, plan and build our mines and who mine, process and move and market our products – from bulk commodities and base metals to precious metals and diamonds (through De Beers) – to our customers around the world. Our diversified portfolio of products spans the economic development cycle and, as a responsible miner, we are the custodians of precious resources. We work together with our key partners and stakeholders to unlock the long-term value that those resources represent for our shareholders, but also for the communities and countries in which we operate – creating sustainable value and making a real difference. Our mining operations, growth projects and exploration and marketing activities extend across southern Africa, South America, Australia, North America, Asia and Europe.

www.angloamerican.com