Parliament, Friday, 6 June 2025 – The Portfolio Committee on Mineral and Petroleum Resources is seriously concerned by the dysfunction of the Board of a Pooling and Sharing Joint Venture (PSJV) between Alexkor and the Richtersveld Mining Company (RMC).
Although Alexkor and RMC have 51% and 49% shares in the PSJV respectively, the two companies have equal representation in the Board and the Deeds of Settlement states that Board resolutions must always be unanimous.
PSJV is responsible for running mining operations on behalf of Alexkor and RMC and this is done through independent contractors appointed by the Board.
The committee has learnt that often the PSJV Board differs when Alexkor representatives in the Board push for compliance with the Public Finance Management Act (PFMA), among others.
Alexkor is a schedule 2 state-owned company in terms of the PFMA and RMC is a subsidiary of Richtersveld Investment Holdings which is privately owned by the Richtersveld community.
PSJV was established in terms of the Deeds of Settlement after the Richtersveld community successfully claimed the land where Alexkor was mining.
The Deeds of Settlement granted the Richtersveld community full mining rights on land and granted full marine mining rights to Alexkor.
The committee is conducting a three-day oversight visit to Alexkor in Alexander Bay, Northern Cape, and is alarmed to observe the company’s infrastructure in a complete state of dilapidation as well as poor security in the mine.
However, the committee feels empowered with information following a meeting with organised labour which detailed all challenges facing the company and the workers.
On day two of the oversight visit, Saturday, 7 June 2025, the committee will meet with the Richtersveld Local Municipality and the Richtersveld community.
ISSUED BY THE PARLIAMENT COMMUNICATION SERVICES ON BEHALF OF THE CHAIRPERSON OF THE PORTFOLIO COMMITTEE ON MINERAL AND PETROLEUM RESOURCES, MR MIKATEKO MAHLAULE.
For media inquiries, please contact the committee’s Media Officer:
Name: Justice Molafo (Mr)
Parliamentary Communication Services
Cell: 081 424 7481
Email: jmolafo@parliament.gov.za
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