One of the biggest reasons for celebration, particularly among Ntsimbintle Mining’s grassroots level shareholders, was the company’s latest dividend payment of R300 million in April.
Speaking at the event Ntsimbintle chairman, Saki Macozoma, said, “We see how deep transformation can run when we, as key players in the mining industry, honour our communities, particularly those surrounding the mine.”
[quote]Ntsimbintle is a manganese mining and exploration business that was born out of South Africa’s own transformation when in 2002, government announced it wanted to broaden ownership of the country’s strategic resources.
In 2003, nine black groups formed Ntsimbintle Mining to create a Broad Based Black Economic Empowerment company to pursue manganese opportunities in South Africa.
Today the Ntsimbintle Mining family consists of 16 shareholders, many of whom are grassroots level shareholders from within the Northern Cape and have benefited directly from the company’s success.
The John Taolo Gaetsewe Developmental Trust, previously known as the Kgalagadi Rural Poverty Node Charitable Trust, is one such shareholder.
This trust, made up of members directly from the Kgalagadi district, is a specialist unit with a key focus on issues pertaining to the youth, people living with disabilities, HIV/AIDS, poverty alleviation, and women and children.
The John Taolo Gaetsewe Developmental Trust is a 14.44% shareholder of Ntsimbintle Mining, and its chairperson, Cynthia Mogodi sits on Ntsimbintle Mining’s board of directors.
To date, the John Taolo Gaetsewe Developmental Trust has received dividend payments amounting to R46.2 million from Ntsimbintle Mining.
This has greatly empowered the trust to carry out its mandate to champion sustainable socio-economic solutions for the poor and needy people of the Kgalagadi district.
With a world class portfolio of manganese assets there are ample reasons for Ntsimbintle Mining to celebrate. Tshipi é Ntle Manganese Mining, a premium asset, is one such reason.
Based in the Kalahari Manganese Field, Tshipi Borwa is estimated to be one of the five largest manganese exporters globally and the largest single manganese mine in South Africa.
During the first four months of this year, Tshipi achieved monthly production volumes capable of supporting in excess of 3 Mt per year, exporting more than any other producer in South Africa.
Mokala Manganese, an entity in which Ntsimbintle Mining owns 51%, is considering the development of a new manganese project with a total resource of approximately 80 Mt, 12 Mt of which is mineable by opencast means.
A feasibility study has been completed on the project, with the Mining Right application submitted thereafter. The award of this mining right is imminent and a decision will be made by all shareholders post receipt of all permits on the development of the project.
Ntsimbintle Mining recently reached an agreement with Lehating Mining and its major shareholder, Traxys Projects LP, to amalgamate the Lehating Mining Right and the future mining right in respect of the Wessels prospecting area into one mine.
The soon to be Lehating / Khwara amalgamated mine is one of the few remaining high grade (49%) manganese deposits in the Kalahari Manganese Field with approximately 25 Mt of mineable manganese ore.
“It is an honour to be part of such an incredible journey of transformation and to see the vast mineral wealth of our country being shared more equitably among the people,” concludes Macozoma.
Feature image credit: Ntsimbintle Mining
(From left to right – pictured at the event):
- Tumelo Mpolokeng, CEO of the John Taolo Gaetswe Development Trust
- Omphemetse Cynthia Mogodi, non-executive director Tshipi é Ntle Manganese Mining and chairperson of the John Taolo Gaetsewe Developmental Trust
- Saki Macozoma, chairman of Ntsimbintle Mining
- Sabelo Macingwane, director at Ntsimbintle Mining
- Justin Pitt, CEO of Safika Resources