Question NW110 to the Minister of Public Enterprises

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21 February 2019 - NW110

Profile picture: Mazzone, Ms NW

Mazzone, Ms NW to ask the Minister of Public Enterprises

(1)What is the current status of Alexkor’s Pooling and Sharing Joint Venture (PSJV); (2) What (a) is the total cost of the PSJV and (b) amount of the costs were contributed by the Government; (3) Whether Alexkor withdrew any funds from the PSJV; if so, (a) what amount was withdrawn, (b) on what date were the funds withdrawn and (c) why were the funds withdrawn?


According to the information received from Alexkor

(1) The PSJV agreement is still operational and adhered to within the law.

(2) (a) On average the PSJV’s operational costs are R152m per annum;

(b) The Initial Capital Contribution of R200m as a loan and a short-term loan of R4.8m was provided to the PSJV. The loans were provided in terms of the Deed of Settlement.

(3) Alexkor has not withdrawn any funds from the PSJV;

(a) The only amounts paid by the PSJV to Alexkor was R11m in 2017/18 financial year as repayment of a portion of the Initial Capital Contribution loan and R4.6m in 2017 as profit share contribution.

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