The South African Cabinet on Wednesday approved the settlement reached with the Richtersveld community on their land claim against Alexkor and the state for land situated in Alexander Bay.
The Deed of Settlement, which concludes a protracted court case in which billions of rands were claimed from the state, was signed in April, said government spokesperson Themba Maseko.
This settlement provided for restitution through the transfer of land and assets from Alexkor to the community and for the compensation of Alexkor by the state, he said after Cabinet’s fortnightly meeting.
The settlement included the transfer of land to the community by the state and Alexkor, restoration of mineral rights to the community, and the establishment of a Pooling Sharing Joint Venture (PSJV), which would be a joint mining venture between Alexkor and the community.
In this regard, the state would capitalise Alexkor to enable it to capitalise the PSJV.
Alexkor’s agricultural and Mari cultural assets would be transferred to provide the community with a basis for future development and wealth creation.
”This groundbreaking agreement demonstrates the possibility for broad-based and sustainable empowerment that exists in the process of land restitution and community empowerment,” Maseko said. — Sapa