• All Share : 49966.7997
    UP 1.71%
    Top40 - (Tradeable) : 44383.7375
    UP 1.74%
    Financial 15 : 16432.9949
    UP 1.24%
    Industrial 25 : 64049.2053
    UP 1.59%
    Resource 10 : 36075.2531
    UP 3.51%

  • ZAR/USD : 13.3016
    UP 1.24%
    ZAR/GBP : 20.4398
    UNCHANGED0.00%
    ZAR/EUR : 14.8719
    UP 0.16%
    ZAR/JPY : 0.1089
    UP 0.93%
    ZAR/AUD : 9.542
    UP 0.10%

  • Gold US$/oz : 1125.83
    UNCHANGED0.00%
    Platinum US$/oz : 1003.45
    UNCHANGED0.00%
    Silver US$/oz : 14.54
    UNCHANGED0.00%
    Palladium US$/oz : 566
    UNCHANGED0.00%
    Brent Crude : 49.81
    UNCHANGED0.00%

  • All data is delayed by 15 min. Data supplied by Profile Data
    Hover cursor over this ticker to pause.

Sat Aug 29 16:41:06 SAST 2015

We'll soldier on - Patrice

KATHARINE CHILD | 14 November, 2012 00:02
TT_PX_TESTINGNEW_06-05-03-2012-15-03-46-726-.jpg
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.

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.