Home » Business » Zimplats Honours U.S $10 Million Community Pledge

PLATINUM group Zimplats expects to take delivery of the first load of equipment for its base metal refinery in October in time to help the miner meet its 2016 commitment for the completion of the project.

Zimplats head of corporate services Ms Busi Chindove also told a Mining Business Dialogue Conference on Friday that the group has paid the full $10 million pledged to the Community Share Ownership Trust.

“We pledged $10 million and we have disbursed the full $10 million. There are projects underway in Mhondoro-Ngezi, Chegutu and Zvimba. The whole project is audited by independent auditors on an annual basis. The scheme is run by the 12 chiefs who are in the area and there are other board members in the trust. It’s not Zimplats that is running the projects but the trust,” said Ms Chindove.

On the refinery she said the company expects the first delivery towards the end of the year because the equipment for the project is manufactured on order.

“We are adhering to the 2016 commitment for the completion of the refinery. The reason why it looks like there is nothing happening on the refinery is because the equipment that we buy is not kept on shelves but manufactured as per order. So we are expecting the first load of delivery in October. We will meet our commitment deadline,” said Ms Chi- ndove.

The Mining Business Dialogue Conference was geared at building a consensus towards developing a Mining Charter which is a voluntary code that defines values within the mining business sector and primarily focusing on what contribution mining business make to sustainable development.

“The idea is to set up these values in which companies can actually sign up to so that they become a basis in which society can actually assess or reflect upon these companies,” said Rodney Ndamba, the chief executive of the Institute for Sustainability Africa.

Insaf hosted executives from mining companies, academics and members of the civil society for the half-day conference for the dialogue on issues of sustainable development of the Mining Business Charter. In South Africa, for instance, the Mining Charter stipulates mining companies must comply with a range of social, labour and community objectives to qualify for their mining and prospecting rights.

“The values should be a social licence to operate within the mining sector. There is buy-in from the big companies because most of them have headquarters in countries such as South Africa, Australia (and) Canada where these values already exist and within requirements. We need to convince our local mining companies and the small mining businesses to ensure that the values define the sector,” said Mr Ndamba.

Source : The Herald

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