RBPlat gives nod to R2.8bn housing plan

[miningmx.com] – ROYAL Bafokeng Platinum (RBPlat) said its board had given an in-principle agreement for a R2.8bn housing and amenities project for employees at its Bafokeng Rasiimone Platinum Mine Joint Venture (BRPM).

The agreement is subject to the conclusion of ring-fenced developmental funding that would have no recourse to company cash flow, RBPlat said. If approved, it would allow for the construction of 3,100 houses at BRPM as well as amenities.

“To enable this project, RBPlat will be required to invest in aggregate an additional R100m,” the company said. Housing provision is part of RBPlat’s wage agreement with its unions and follows construction of 400 houses during May 2014.