BEE

Enlarge BEE structure

Platmin’s BEE partner, the Moepi group of companies (Moepi), is headed by Mr. Kwape Mmela. Moepi holds approximately 27.61% ownership interest in Boynton Investments, Platmin’s operating subsidiary in South Africa. Platmin has achieved this BEE interest over and above, and ahead of the scheduled 26% ownership required by 2014, under South African mining legislation for BEE.

These BEE partnerships not only ensure that Platmin can acquire appropriate mining and prospecting rights, but also that we work closely with the local communities near our projects. Our BEE partners were selected on the basis of Platmin’s broad based socio-economic empowerment strategy which aims to attract talented historically disadvantaged persons to work with Platmin. They also reflect the positive contribution by those partners in bringing attractive PGM assets to the Company. Platmin’s BEE partner Moepi is represented by Mr. Mmela who serves on Platmin’s board of directors and is a member of management, holding the position of Chief Strategic Officer for the Platmin group.

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  Boynton in turn holds an interest in subsidiaries holding rights to Platmin’s projects.
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  Platmin owns 54.29%, Moepi and other minorities hold the balance in this project.
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  Direct and indirect ownership through subsidiary companies in the Moepi Group.
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  Platmin owns approximately a further 0.80% in Boynton, indirectly through an intermediary company.