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Alexkor
Alexkor is a South African unincorporated joint venture diamond mining company that falls under the Department of Public Enterprises. It was previously a state-owned enterprise, when in 2007 it entered a government-funded pooling and sharing joint venture with the Richtersveld community. The company's core business is diamond prospecting and seabed mining along the north-west coast of the Northern Cape Province of South Africa up to the border with Namibia. It was founded through the proclamation of the Alexkor Limited Act, No. 116 of 1992 (amended by the Alexkor Amendment Act, No. 29 of 2001). The company mines both land and coastal deposits for diamonds. In 2003 mining activity by the company had decreased significantly due to losing a land claim in ''Alexkor Ltd v Richtersveld Community'' instituted by the Richtersveld community in the area surrounding Alexander Bay. This resulted in the company generating substantial losses between 2005 and 2009 and in turn lead to it a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexkor Ltd V Richtersveld Community
''Alexkor v Richtersveld Community'', decided by the Constitutional Court in 2001, is an important case in South African law, with a particular bearing on the law of property and the use of customary law. The Richtersveld community brought a claim for the restoration of its ancestral land in terms of the Restitution of Land Rights Act, a statutory mechanism giving effect to the government's constitutionally-mandated land reform and restitution programme. The appellant in this case was the mining corporation Alexkor, which had an interest in the diamondiferous parts of the Richtersveld area. An important aspect of the case was the community's assertion that it used the land according to its indigenous customs, an assertion upheld in both the Supreme Court of Appeal (SCA) and the Constitutional Court, and on the basis whereof the land was returned to the community. In defining and determining what is entailed by customary-law ownership of land, the SCA equated it with common-law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Zondo Commission Of Inquiry Into State Capture
The Judicial Commission of Inquiry into Allegations of State Capture, Corruption and Fraud in the Public Sector including Organs of State, better known as the Zondo Commission or State Capture Commission, is a public inquiry established in January 2018 by former President Jacob Zuma to investigate allegations of state capture, Corruption in South Africa, corruption, and fraud in the public sector in South Africa. By December 2020, the commission had interviewed 278 witnesses and collected 159,109 pages and one exabyte of data as evidence. It received eight extensions to finish its report, with 15 June 2022 being the end of its mandate. The first part of the report was published on 4 January 2022. The fifth and final part was published on 22 June 2022. It has cost the state close to R1 billion, far more than any prior South African judicial inquiry. History In 2016, the Public Protector, Thuli Madonsela, launched an investigation into state capture after receiving formal complain ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Department Of Public Enterprises (South Africa)
The Department of Public Enterprises (DPE) is one of the ministries of the South African government. It is the government's shareholder representative with oversight responsibility for a number of state-owned enterprises (SoEs). Enterprises It is estimated that South Africa has about 300 SoEs, nine of which fall under the responsibility of the DPE; * Alexkor – Mining sector (diamond mining) * Denel – Aerospace and Defence sector (armaments manufacturer) * Eskom – Energy sector (national electricity utility) * South African Express – Transport sector (regional and feeder airline) * South African Forestry Company – Forestry sector (manages forestry on state owned-land) * Transnet – Transport and related infrastructure sector (railways, harbours, oil/fuel pipelines and terminals) Other corporate entities not under the Department of Public Enterprises include the South African Post Office, the South African Broadcasting Corporation, the South African Bureau of Standar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joint Venture
A joint venture (JV) is a business entity created by two or more parties, generally characterized by shared ownership, shared returns and risks, and shared governance. Companies typically pursue joint ventures for one of four reasons: to access a new market, particularly Emerging market; to gain scale efficiencies by combining assets and operations; to share risk for major investments or projects; or to access skills and capabilities. According to Gerard Baynham of Water Street Partners, there has been much negative press about joint ventures, but objective data indicate that they may actually outperform wholly owned and controlled affiliates. He writes, "A different narrative emerged from our recent analysis of U.S. Department of Commerce (DOC) data, collected from more than 20,000 entities. According to the DOC data, foreign joint ventures of U.S. companies realized a 5.5 percent average return on assets (ROA), while those companies’ wholly owned and controlled affiliates ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Corruption In South Africa
Corruption in South Africa includes the improper use of public resources for private ends, including bribery and improper favouritism. The 2017 Transparency International Corruption Perceptions Index assigned South Africa a score of 43 out of 100, ranking South Africa 71 out of 180 countries; a high score and a low ranking signals that the country's public sector is perceived to be honest. There was a marginal improvement by 2021, when South Africa received a score of 44, ranking it 70 out of 180 countries. Nonetheless, this remains below its score of 45 in 2016. Countries with scores below 50 are believed to have serious corruption problems. South Africa has a robust anti-corruption framework, but laws are inadequately enforced and accountability in public sectors such as healthcare remain below par. In addition, internal sanctions have been employed to discourage whistle-blowers from reporting corrupt activities in both the public and private sectors – according to a 2021 Af ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Companies Based In Johannesburg
A company, abbreviated as co., is a legal entity representing an association of people, whether natural, legal or a mixture of both, with a specific objective. Company members share a common purpose and unite to achieve specific, declared goals. Companies take various forms, such as: * voluntary associations, which may include nonprofit organizations * business entities, whose aim is generating profit * financial entities and banks * programs or educational institutions A company can be created as a legal person so that the company itself has limited liability as members perform or fail to discharge their duty according to the publicly declared incorporation, or published policy. When a company closes, it may need to be liquidated to avoid further legal obligations. Companies may associate and collectively register themselves as new companies; the resulting entities are often known as corporate groups. Meanings and definitions A company can be defined as an "artificial per ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government-owned Companies Of South Africa
State ownership, also called government ownership and public ownership, is the ownership of an industry, asset, or enterprise by the state or a public body representing a community, as opposed to an individual or private party. Public ownership specifically refers to industries selling goods and services to consumers and differs from public goods and government services financed out of a government's general budget. Public ownership can take place at the national, regional, local, or municipal levels of government; or can refer to non-governmental public ownership vested in autonomous public enterprises. Public ownership is one of the three major forms of property ownership, differentiated from private, collective/cooperative, and common ownership. In market-based economies, state-owned assets are often managed and operated as joint-stock corporations with a government owning all or a controlling stake of the company's shares. This form is often referred to as a state-owned en ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gupta Family
The Gupta family is a wealthy Indian-born family with business interests in South Africa, whose most notable members are brothers Ajay, Atul, and Rajesh "Tony" Gupta—as well as Atul's nephews Varun, and US-based Ashish and Amol. The family owns a business empire spanning computer equipment, media, and mining. The family became synomous with corruption in South Africa and has been sanctioned by multiple countries for their activities. In 2016, Atul Gupta became the seventh-wealthiest person in South Africa, with an estimated net worth of R10.7 billion (US$773.47 million), based on JSE-listed holdings. The family migrated from the Indian state of Uttar Pradesh to South Africa in 1993 to establish Sahara Computers. The family was based at the Sahara Estate in Saxonwold, Johannesburg, a compound comprising at least four mansions, until 2016 when they left South Africa for Dubai, United Arab Emirates. In 2022 an Interpol red notice was issued for the arrest of Atul and Rajesh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Carat (mass)
The carat (ct) is a unit of mass equal to or 0.00643 troy oz, and is used for measuring gemstones and pearls. The current definition, sometimes known as the metric carat, was adopted in 1907 at the Fourth General Conference on Weights and Measures, and soon afterwards in many countries around the world. The carat is divisible into 100 ''points'' of 2 mg. Other subdivisions, and slightly different mass values, have been used in the past in different locations. In terms of diamonds, a paragon is a flawless stone of at least 100 carats (20 g). The ANSI X.12 EDI standard abbreviation for the carat is CD. Etymology First attested in English in the mid-15th century, the word ''carat'' comes from Italian ''carato'', which comes from Arabic '' qīrāṭ '' قيراط , in turn borrowed from Greek ''kerátion'' κεράτιον 'carob seed', a diminutive of ''keras'' 'horn'. It was a unit of weight, equal to 1/1728 (1/12) of a pound (see Mina (unit)). History Carob seeds ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alexander Bay, Northern Cape
Alexander Bay () is a town in the extreme north-west of South Africa. It is located on the southern bank of the Orange River mouth. It was named for Sir James Alexander, who was the first person to map the area whilst on a Royal Geographical Society expedition into Namibia in 1836. (It is mistakenly believed by many locals that it was he who first established commercial copper mining in the area.) With diamonds being discovered along the West Coast in 1925, Alexander Bay was established to service the mining industry. The town of Oranjemund lies on the northern bank of the river, which forms the international border with Namibia. The two towns are linked by the Ernest Oppenheimer Bridge, named for Ernest Oppenheimer in 1951. The town is served by Alexander Bay Airport. History Diamonds After diamonds were discovered along this coast in 1925 by Dr Hans Merensky, Alexander Bay became known for its mining activities. The resulting diamond rush led to the Diamond Coast rebell ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Northern Cape
The Northern Cape is the largest and most sparsely populated province of South Africa. It was created in 1994 when the Cape Province was split up. Its capital is Kimberley. It includes the Kalahari Gemsbok National Park, part of the Kgalagadi Transfrontier Park and an international park shared with Botswana. It also includes the Augrabies Falls and the diamond mining regions in Kimberley and Alexander Bay. The Namaqualand region in the west is famous for its Namaqualand daisies. The southern towns of De Aar and Colesberg found within the Great Karoo are major transport nodes between Johannesburg, Cape Town and Port Elizabeth. Kuruman can be found in the north-east and is known as a mission station. It is also well known for its artesian spring and Eye of Kuruman. The Orange River flows through the province of Northern Cape, forming the borders with the Free State in the southeast and with Namibia to the northwest. The river is also used to irrigate the many vineyards in the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diamond Mining
Diamond is a solid form of the element carbon with its atoms arranged in a crystal structure called diamond cubic. Another solid form of carbon known as graphite is the chemically stable form of carbon at room temperature and pressure, but diamond is metastable and converts to it at a negligible rate under those conditions. Diamond has the highest hardness and thermal conductivity of any natural material, properties that are used in major industrial applications such as cutting and polishing tools. They are also the reason that diamond anvil cells can subject materials to pressures found deep in the Earth. Because the arrangement of atoms in diamond is extremely rigid, few types of impurity can contaminate it (two exceptions are boron and nitrogen). Small numbers of defects or impurities (about one per million of lattice atoms) color diamond blue (boron), yellow (nitrogen), brown (defects), green (radiation exposure), purple, pink, orange, or red. Diamond also has a very ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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