Anglo American South Africa (AASA) chief executive Lazarus Zim is set to develop Angloplats Black Economic Empowerment (BEE) structure, it has been announced.

Mr Zim is planning to establish a pan-African investment vehicle to help further the BEE initiatives, with the mining firm declaring its intention to ramp up its efforts to enfranchise the indigenous people.

While the statement was more concerned with the broad outline of future empowerment in the firm, Mr Zim, who is president of South Africa’s Chamber of Mines, has set himself clear goals.

In a statement AASA explained: "When the proposals for a further platinum empowerment transaction have been developed, it is envisaged that Lazarus will play a key role in creating a broad based platinum empowerment consortium alongside Anglo Platinum's existing BEE partners.

AASA also confirmed that Mr Zim would step down from the firm, giving up his executive position as well as his directorship of Anglo Platinum.

Nevertheless the firm made clear that it was a "joint intention that he will maintain a strong involvement with the group".

Anglo American chief executive Tony Trahar praised the efforts of Mr Zim in achieving "great success in a relatively short time".

Mr Trahar, who is himself stepping down as chair of AASA, added that he was "delighted that he will work with Anglo Platinum and AASA on transformation projects".


Ÿ Adfero Ltd