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Overview

Palabora Mining Company pledges 40 million Rand over three years for business development programme

Commitments (Constant USD, 2023)$3,038,685
Commitment Year•2018Country of Activity•South AfricaDirect Recipient Country of Incorporation•South AfricaSector•Business And Other ServicesFlow Type•Grant

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Jan 1, 2018
End (planned)
Apr 1, 2021

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned companies

  • Palabora Mining Company Ltd (PMC)

Receiving agencies

Government Agencies

  • Government of South Africa

Loan description

Palabora Mining Company pledges 40 million Rand over three years for business development programme

Narrative

Full Description

Project narrative

In March 2018, Palabora Mining Company announced the launch of Palabora Link, a programme that combines the company’s support for and collaboration with local businesses in the Enterprise and Supplier Development (ESD) programme. The Palabora Link Enterprise and Supplier Development Programme uses the supply chain and service requirements of the mine to benefit local businesses. The objective is to create alternative, sustainable industries that employ local community members and help to grow the local economy. A total of R40-million has been allocated over a three-year period to support the Enterprise and Supplier Development programme. The program is known as 30TEN+5 ED. The program focuses on both Enterprise Development and Supplier Development. Beneficiaries receive assistance in the form of entrepreneurial training, funding support, administrative support and the promotion of joint ventures and partnerships to assist their existing businesses. Amongst the beneficiaries were 30 micro enterprises from the Makhushane, Mashishimale, Selwane, Maseke, Lulekani, Phalaborwa, Namakgale and Majeje communities; 10 enterprises were identified through the Palabora Foundation and 5 independent funding requests originated and were accepted to use part of Palabora's discretionary fund.