Chronicle Editor
Senior Business Writer
PLATINUM group metals (PGM) producer, Zimplats, says through its structured local enterprise development (LED) programme, it has invested US$407 million in the procurement of goods and services from locals since the programme’s inception in 2013.
Zimplats, in its 2023 integrated annual report said it is committed to creating a better future through developing economically self-sustaining and inclusive mine communities.
The LED programme was launched in 2013 to capacitate and grow local indigenous companies and the objective is to align the LEDs to the standards of Zimplats’ way of doing business and core values.
This is positively contributing to a resilient supply chain for Zimplats and the economic and social development of the communities in which the Company operates, it said.
“The LEDs supplied Zimplats with various products and services, which included engineering, medical, haulage, drilling, labour broking, underground support (shotcreting),
legal advisory services, catering and facilities management solutions, protective clothing, bricks, and silica.
“As at 30 June 2023, LEDs spending amounted to US$69 million, a 11 percent increase compared to last year’s spend of US$62 million as shown in figure 2 below.
“A total of US$407 million has therefore been invested in the procurement of goods and services from the LEDs since the programme’s inception in 2013.”
It noted that the activities by the LEDs resulted in significant contribution to socio-economic development and import substitution initiatives.
Procurement spend on LEDs in 2023 accounted for nine percent of Zimplats’ overall procurement spend.
Bongani Ndlovu
Online Reporter