Page 31 - 100 years of Anglo American

Resources
The Royal Marang Hotel owned by the Royal Bafokeng nation
managed

by royalty

he vast reserves of platinum that lie
beneath their feet have helped the
TBafokeng nation to become a beacon
on South Africa’s platinum belt.
Royal Bafokeng Platinum (RBPlat) was
created after a joint venture between Anglo
American Platinum and Royal Bafokeng
Holdings, known as the Bafokeng Rasimone
Platinum Mine Joint Venture (BRPM).
RBPlat, in which Royal Bafokeng Holdings
has a 52% shareholding, is the only
community-owned company listed on the JSE,
the company says. RBPlat owns 67% of BRPM.
The company’s annual report states that,
by the end of last year, RBPlat employed
7 400 people, 93.5% of whom are black. More
than half of the company’s board is black, as
is 55.6% of its senior management team.
The company has also spent R493 million
on employee training and development since
it was formed in 2010, and has invested
R251.1 million in its employee home ownership
scheme.
The nation’s Royal Bafokeng Holdings
began with Royal Bafokeng Resources,
established in 2002, to oversee the nation’s
mining interests.
Knowing that the platinum wouldn’t last
forever, the 800-year-old nation’s 36th
monarch, Kgosi Leruo Molotlegi, began
diversifying their investments. Royal
Bafokeng Finance was established in 2004 for
this purpose and, two years later, Royal
Bafokeng Holdings was established. Today,
only 15% of the nation’s investment portfolio
is in mining assets.
Molotlegi, the president of the Mineral
Rights Association of Indigenous People of
Barney Barnato Patrice Motsepe SA, has a degree in architecture and urban
planning from the University of KwaZulu-
longer exists, begging the perennial “once corporate South Africa, particularly Anglo Natal. He and the Royal Bafokeng Supreme
empowered” question. American, benefited from apartheid. You can see Council, with whom he makes all the
Among Anglo American’s BEE deals, the pictures of how they were treated; the important decisions that affect his people,
Mvelaphanda represents the largest chunk of hostels; the whole migrant system,” says Nkosi. have been on a mission to create a self-
value creation for black partners after Exxaro – July Ndlovu, CEO of Anglo American Coal SA, sufficient community by 2020.
more than R8 billion by 2014 – but government’s says the group’s history often subjects it to The nation now boasts assets that are the
new proposed rules would discount it entirely. criticism that is not the current reality. envy of the rest of the country. The Royal
The story is far from over as Anglo American “I hear the criticism about hostels and people Bafokeng Sports Palace in Phokeng, near
is again working on major divestments. The mention Anglo American’s name. Anglo American Rustenburg, is a football, rugby and athletics
Seriti deal is one; the sale of the Union Mine is was at the forefront of abolishing hostels. People stadium that became the talk of the
another. Many people, however, point out that forget this. Anglo American undertook international football community when it
Anglo American’s first empowerment deal transformation not because the law required it. made its debut as the England team’s base
actually occurred decades earlier with the Our name probably comes with a during the soccer World Cup in 2010. The
creation of Gencor in the 1960s out of the disproportionate expectation in this country and stadium is also Platinum Stars’ home base.
Afrikaner-controlled Federale Mynbou and the region than our size warrants, and that is The nation also has its own five-star hotel
General Mining. because of our history. When people criticise the – the Royal Marang Hotel – as well as its own
Exxaro’s Nkosi says: “They (Gencor) were, in mining industry in this country, the criticism is private school, Lebone II College of the Royal
today’s language, an empowerment company for synonymous with criticising Anglo American. Bafokeng, where teachers provide mentoring
Anglo American. If you look at the laws of Sometimes it is about accepting what you did and support to other schools in the area.
apartheid – the ways they ravaged the black wrong, but it’s also about playing your part in Many talented children who cannot afford
community – there was always a feeling that putting it right.” the fees receive bursaries. – Nicki Gules
ANGLO AMERICAN 100 YEARS 31