Following previous agreements relating to community shareholding in Thorburn Security Solutions at the contract at Nkomati Mine near Badplaas in Mpumalanga, has a new, dynamic deal bearing more benefits to local communities been concluded and signed effective 1 February 2013. This see the formation of a Joint Venture between Thorburn Security Solutions and local Elukwatini based Gagu JB Security linked to the Nkomati Mine contract. In this new agreement Gagu JB will hold 30% shareholding effective 1 February 2013. The joint venture relationship will give Gagu JB the opportunity to grow shareholding to 40% in 12 months and to 49% by October 2014. The agreement is applicable to the Nkomati Mine contract only.
The mine is situated between Machadodorp, Waterval-Boven and Badplaas in Mpumalanga. The mine is a small to medium-size base-metal operation and exploits a complex high-grade nickel, copper, cobalt and platinum-group metal deposit, which is accessed by means of two vertical shafts. The highly-mechanised underground mining operation exploits three massive sulphide ore bodies by means of trackless equipment. The processing plant, a highly-automated concentrator plant, uses flotation technology to produce two concentrates. The main commodity in this concentrate is nickel, with copper, cobalt and platinum-group metals as by-products. All concentrates are toll-smelted and refined off-mine.
A joint monitoring committee comprising of members each from Gagu JB and Thorburn will be established whilst an independent committee member is also appointed. Unlike previous agreements is this agreement allowing for a more beneficial shareholding for Gagu JB and an external development and mentorship initiative has been provided for by Thorburn Security Solutions. In this agreement Thorburn will, despite for the allocation of shares to Gagu JB have the responsibility to do certain training and development functions with the owners and executives of Gagu JB. Operational support and advice will always be available to Gagu JB.
Thorburn Security Solutions believe that this joint venture will benefit all parties and in particular benefit the local communities in the area of Nkomati Mine. Thorburn expressed their willingness to support Gagu JB Security and soon audits on existing businesses will be conducted as and when required. “We would always be supportive of growth and maintenance of standards in existing operations of Gagu JB Security”, Thorburn Security Solutions (Northern Region) MD Dolf Scheepers commented.
Security officers performing safety duties (Breath alcohol testing) duties in the Thorburn Gagu Joint Venture branded uniform at Nkomati Mine.
Access control with uniform clearly displaying the relationship between Thorburn and Gagu.