The Makgomo Chrome project, which was approved by the Department of Mineral Resources and Energy (DMRE) in 2007, was started specifically to accelerate and enhance socio-economic development in the six host communities, more than what can be realised from PGM mining alone.
Through competent and responsible management, Makgomo Chrome has already generated substantial profits which have benefited the mine host communities through various projects as well as through dividend payments to the various Community Trusts.
Makgomo Chrome Shareholders
The project was specifically designed with a three-tiered shareholding, ensuring the host communities benefit in three ways.
The six communities have direct ownership in Makgomo Chrome through Marula Community Chrome (MCC), which has a 50% shareholding in the chrome project and is 100% owned by the six communities. Community ownership in MCC was decided through an agreement signed by the six mine host communities in February 2008. The decision was made based on the chrome footprint of each community across the Four Farms – Winnaarshoek, Forest Hill, Clapham & Driekop – on which the chrome resource is found, as well as specific interventions and concessions by the Tswako Mohlala community, where most of the chrome is found. This arrangement means that the majority shareholder in MCC, Tswako Mohlala, has a leadership role, but also enables broader participation and shared benefit for the other communities through the principle of ubuntu.
Various socio-economic development projects, funded from Marula mine’s 20% shareholding in Makgomo Chrome, are implemented in the six communities.
The communities further benefit from voluntary contributions to educational priorities from Implats, which owns the remaining 30% shareholding in Makgomo Chrome, having elected to not exclusively benefit from the available chrome resources.
Makgomo Chrome Governance
The business affairs of Makgomo Chrome and the day-to-day running of the company are overseen by the Board of directors who, from time to time, may delegate some of their powers to various sub-committees. The Board has oversight of these committees at all times.
There are six Board members who are appointed by the shareholders in proportion to the number of shares they hold.
Board Members:
- J Theron – Chairperson
- RA Karstel
- KS Pather
- MN Strydom
- KW Mohlala
- BO Kgoete
Sub Committees:
| Audit & Risk Committee | Social, Ethics & Transformation Committee | Security Committee (sub-committee of SET) |
| RA Karstel – Chairperson BO Kgoete F van der Merwe Company Secretary |
KS Pather – Chairperson BO Kgoete D Qina D Ngcobo Company Secretary |
D Welman S Manyaka D Qina BO Kgoete Company Secretary |