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Sat Oct 01 17:29:54 CAT 2016

We'll soldier on - Patrice

KATHARINE CHILD | 14 November, 2012 00:02
Outgoing president of the Black Business Council, Patrice Motsepe, at the launch of the Black Business Council at Gallagher Estate in Midrand. 01 March 2012. Picture: DANIEL BORN/ THE TIMES
Image by: Daniel Born

Mining magnate Patrice Motsepe yesterday said his platinum company, African Rainbow Minerals, would continue operating despite the recent wave of strikes and high wage settlements that have battered the platinum sector.

Motsepe was speaking to journalists after handing over R10-million to rural communities in Sandton. But he admitted that there were "long-term challenges" in mining.

He said ARM "would no doubt have exposure to platinum in the next few years". H e handed over dividends of R10-million from the ARM Broad Based Economic Empowerment T rust.

The trust was launched in 2005 to serve rural communities and is valued at R2.53-billion. It has paid R85-million in dividends over seven years. The money has been spent on building new schools, starting agricultural projects, and distributing bicycles to pupils.

Some of the guest were King Goodwill Zwelithini, ANC secretary-general Gwede Mantashe, Cosatu's general secretary Zwelinzima Vavi and Anglican Archbishop Thabo Makgoba.

Motsepe's trust also donated between R200000 and R300000 each to more than 20 religious groups.

Among the beneficiaries were an orthodox Jewish organisation, Rhema church, the South African Methodist church, Zionist and Shembe churches and a Hindu organisation.


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