Platinum miner Anglo Platinum (Angloplat) and the government are in a ”stand-off” over differences in interpretation of black economic empowerment requirements, said Minerals and Energy Minister Buyelwa Sonjica on Monday, according to the Business Day website.
She was addressing media in Pretoria after a lunch with incoming Anglo American chief executive Cynthia Carroll. Anglo American owns about 75% of Angloplat.
”If you have one company, which is a subsidiary of Anglo American, not wanting to embrace transformation, then it means there’s a problem,” she said.
The previous relationship between the ministry and the company had not been ”as good as we would have wanted”, Sonjica said, leading to misunderstanding over black empowerment. ”That kind of misunderstanding and distortion has been happening between ourselves and Anglo Platinum.”
The minister could have been referring to the furore that arose almost three years ago when the government took offence at Anglo chief executive Tony Trahar’s remarks about South Africa’s ”political-risk issue”.
One of the main areas where Angloplat is not meeting requirements on black empowerment is in its social and labour plan, Sonjica said.
According to industry website Miningmx.com, Angloplat considers it is more than 15% empowered as a result of past deals.
But the Deputy Director of Minerals and Energy, Jacinto Rocha, said Angloplat is the only company seeking empowerment credits for deals in which it sold undeveloped platinum ounces in the ground to empowerment companies, as opposed to producing platinum mines.
Carroll, who is visiting Anglo American’s iron-ore, platinum and coal mines this week, said her relationship with Sonjica will be ”very important” for the future success of the company.
The 2002 mining charter, compliance with which is needed to renew mining licences, requires South African mining companies to achieve certain targets. These include minimum black equity ownership, black and female representation at management level, and improving conditions in mining communities.
Sonjica said it would help if Anglo filled the post of chief executive of its South African division, vacated by Lazarus Zim last year. — Sapa