Richards Bay Minerals (RBM) based in Richards Bay has won the FNB KwaZulu-Natal Top Business Awards 2010 in the Mining Quarry category. The award was presented by the MEC for Economic Development and Tourism Mr Mike Mabuyakhulu at a ceremony at Elangeni Hotel in Durban recently.
The Mining Quarry honours a company which has made a significant effort in terms of building the economy of the province through Black Economic Empowerment and social development. RBM signed off its 26% Broad Based Black Economic Empowerment (BBBEE) transaction in December 2009. The company now meets the empowerment requirements of government and its legislation regarding the conversion of the old mineral rights order to the new mineral rights.
RBM is now a joint venture between Rio Tinto (37%), BHP Billiton (37%), Blue Horizon Investments (24%) and RBM permanent employees (2%). The deal worth R4,5-billion represents the largest BBBEE transaction in KwaZulu-Natal to date and Blue Horizon is made up of a group of seven separate business consortia and four host communities.
RBM is the world’s leading mineral sands producer situated in northern Zululand and is a producer of titania slag, high purity pig iron, rutile and zircon. The mine employs 1727 employees of which 12% are women and 78% of indigenous discern with 42% in management.
The Top Business Awards are a platform to honour great performances in the private sector and in municipal and government organizations that contribute to the socio-economic growth of KwaZulu-Natal. They are an opportunity to highlight success in companies and organizations, which is key to promoting KwaZulu-Natal as a favourable business and investment destination. The awards are judged according to the nominated companies’ achievements in each of the major sectors of the South African Standard Classification of all Economic Activities. Companies must incorporate best business practices, while contributing to the socio-economic growth of KwaZulu-Natal.
RBM’s acclaimed social investment programme has uplifted local people though five cornerstones: job creation, education, health care, community safety and agricultural development. Through the programme a large number of people now enjoy an improved life. The mine also operates an affirmative procurement programme and spent R1,9-billion on BBBEE procurement which equates to 52,6% of the total procurement spend in 2009. RBM also spent R38-million on royalties and R62,8-million on community small medium enterprise procurement from the four communities in the same year. “We are very proud to be a recipient of this esteemed award. More importantly, we are pleased that RBM has been recognised for efforts in improving the lives of the people of this province. I share this award with our hardworking employees at RBM as an affirmation that our dedication and effort to address the issues of poverty alleviation, health, education and job creation will have long reaching and positive effects for our society and present a benchmark for the mining industry,” says Cameron McRae managing director of RBM.
