The remote communities of the Richtersveld have had bad experiences in the past. They endured a lengthy land claim battle against state-owned diamond company Alexkor, ultimately winning the Pooling and Sharing Joint Venture (PSJV), with Alexkor holding a 51% interest and the community 49% through the Richtersveld Mining Company (RMC).
The agreement included restoring mining rights to the community, financial compensation for the losses they sustained from diamond mining since the early 1900s, and environmental rehabilitation. But the community has gained little from the initial settlement, due to the internal conflict it fuelled, a dysfunctional Communal Property Association, as well as maladministration and State Capture
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: ITOnlineSA - 🏆 16. / 63 Read more »
Source: ITOnlineSA - 🏆 16. / 63 Read more »
Source: ITOnlineSA - 🏆 16. / 63 Read more »