BEE

Sentula Mining is an overall Level 5 BEE contributor with our Mining Services Division – Sentula Contracting being a Level 4 contributor.

In the 2013 Financial year Sentula Mining entered into a B-BBEE transaction. In terms of the transaction, Shanike Investments No 171 Proprietary Limited (RF) was established to acquire a 16.675% direct equity interest in Sentula Contracting Proprietary Limited, which holds Sentula’s South African mining services businesses. Following implementation of the B-BBEE Transaction, the South African mining services businesses achieved an effective Black ownership of more than 25%, as measured in terms of the Department of Trade and Industry Codes of Good Practice

A further empowerment transaction was undertaken with Shanike, to introduce Shanike as a 26% shareholder in Sentula’s wholly-owned subsidiary Benicon Mining, which holds Sentula’s Bankfontein coal project, and which resulted in Benicon Mining achieving a 26% Historically Disadvantaged South African ownership, as required in terms of the Mining Charter.

BEE