Organisations can no longer be considered separate from the societies and the environments in which they operate.
Wesizwe Platinum’s approach to sustainable development focuses on ensuring long-term business success while contributing to economic growth of local communities, meaningful social development and a healthy environment. Sustainable development is a primary consideration in the way the Group conducts its business.
The Company is in the process of defining its sustainable development strategy based on the Five Capitals Model. The Five Capitals Model broadens business understanding of financial sustainability with an appreciation of how environmental and social issues can affect long-term profitability, and therefore shareholder value.
Wesizwe Platinum’s social and environmental sustainability rests on its ability to generate future revenue streams from operations. As a mining development operation, the Company’s value creation for its shareholders is based on capital development of a high quality asset rather than revenue generation.
The direct economic value created as a result of the Company’s business activities include operating costs, employee compensation and payments to governments in the form of relevant taxes and levies.
Furthermore, the Company contributes to the overall prosperity of local communities and the country through:
- Creating jobs;
- Investing in skills development and training, for employees and community members;
- Supporting local businesses when buying goods and services;
- Corporate social investment programmes; and
- The Company’s contribution to Government revenues can be used to improve the social infrastructure and public services.
Wesizwe Platinum’s approach to the Frischgewaagd-Ledig mine demonstrates the balance between social and environmental factors and sound economic considerations. The measures put in place illustrate the commitment by the Company to ensuring that sustainable development is a fundamental part of the operation’s strategy. |
