De Beers this week announced an exciting empowerment initiative at their Venetia Mine.
The company will be opening a major empowerment deal related to the busing of its employees to and from its operations at Venetia. This unique initiative will impact on local procurement. Senior corporate affairs officer Tarryn Genis explains that Venetia's VM Diamond Transport will seek out partnerships with HDSA-owned businesses to become 40% shareholders in their soon-to-be-established busing companies in Musina and Blouberg.
The proposed business model will see these entities purchase shares and participate in the operation of an eight-year busing contract for Venetia Mine. In support of the De Beers socio-economic development strategy, these companies will participate in a two-year business development programme sponsored by De Beers, with technical training provided by VM Diamond Transport.
The aim is for these empowerment partners to obtain a majority share of the business within five years.
"We believe that empowerment deals such as this one has the power to transform the socio-economic landscape of our mining communities. By focussing on women, youths and disabled-owned entities, we hope to see an impact where it is needed the most," said the general manager of Venetia Mine, Mr Benford Mokoatle.
This empowerment deal is one of 50 expressions of interest that De Beers has set aside for local SMEs operating in their labour-sending areas. Similar opportunities include a partnership with Bridgestone, Global Wheel and Willards to establish a locally owned distribution centre for tyres, rims and batteries that will serve the mine and the wider community.
People interested to find out more about these unique business opportunities can log on to www.debeersgroup.com/expressions.