PPC's BBBEE ownership, after prior transactions, is currently low due to dilution from the 2016 rights issue and unwinding of the 2008 BEE transaction in December 2016, as noted in the 2017 report.
This is being addressed via a new BEE transaction. The terms of this transaction were announced in March 2018 and we are currently implementing it.
For verification purposes, PPC has included empowered ownership held via mandated investments(1). When this form of ownership is included, together with shares held via BEE transactions, PPC Limited has BBBEE voting rights of 25,62% and economic rights of 17,27%.
Other BEE scorecard elements
For further information on other scorecard elements, and PPC's programmes and progress to transform in these areas, please click here for the supplementary information
Social and labour plans (South Africa)
Social and labour plans (SLPs) embody PPC's commitment to community development across several aspects:
- Mine community development
- Local economic development (LED)
- Human resource development
- Employment equity plan
- Housing and living conditions
- Process of managing downscaling and retrenchment (if any)
- Percentage of operations with implemented local community engagement, impact assessments and development programmes 27% (R3,2 million)
Our approach to SLPs
Our aspiration is "we help people experience a better quality of life". We therefore focus on projects that straddle societal spheres, including: education, health, job creation, business development and youth development.
Mine community development encompasses the infrastructure and poverty-eradication projects our mine would undertake in line with the municipal integrated development plan (IDP) for the area, and other relevant frameworks under which the mine operates, as well as major labour-sending areas.
PPC has completed a number of its obligations under the second round of SLPs that ends in September 2018. These projects were carefully selected in collaboration with affected communities in municipalities and regions where PPC mines. The key for project selection is the impact created directly and/or indirectly by our activity in relation to the SLP. Click here to find out more
Opening of the Porterville POP centre