Corporate Governance

MPRDA

ZAC ensures good corporate governance by balancing entrepreneurship with control and risk management. Our businesses activities are aimed at ensuring long-term sustainable growth, while effectively keeping sight of and managing the risks that come with that growth. The ZAC Board has a crucial leadership role in guiding ZAC to success through responsible and efficient decision-making. Good governance is also about the contribution of every employee at all levels of the company. All employees in their daily work environment must strive to achieve an optimum balance between performance, risk and control.

ZAC is a South African Company to which the South African Codes of Corporate Governance apply. At ZAC, however, corporate governance means more than simply complying with a code. As a resources and trading company, we believe that a strong culture of corporate governance and ethical behaviour and decision-making is fundamental to the way we do business. We, therefore, keep a very close eye on best practices and we constantly develop and improve our governance framework in accordance with best practices.

ZAC adheres to all relevant provisions of the Mineral and Petroleum Resources Development Act, 28 of 2002 (“MPRDA”) which is the predominant piece of legislation governing rights to conduct reconnaissance, prospecting, and mining in South Africa. We also abide by all other pieces of legislation that specifically governs mining such as the Mining Titles Registration Act 16 of 1967, Mineral and Petroleum Resources Royalty Act 28 of 2008, as well as the Mine Health and Safety Act 29 of 1996 which specifically focuses on the health and safety of the employees on mines.

We take our Corporate Social Responsibility serious and address it in terms of our Social and Labour Plans (SLP’s), which is also regulated by the MPRDA, but we always try and adopt a compassionate practice while focusing on the promotion of sustainable development in the communities in which we operate.

Our environmental compliance is primarily regulated by our Environmental Authorisations and Environmental Management Programmes (EAs and EMPs) and Water Use Licences (WULs), which is compiled and approved in terms of the National Environmental Management Act 107 of 1998 and the National Water Act 36 of 1998 respectively. We have a strong compliance focus and see it as part of our Corporate Responsibility to minimise our negative impact on the environment and promote sustainable development. During the licencing, operational and closure periods of our mines all other pieces of environmental and other legislation is considered and where required complied with, with specific reference to the:

  • National Environmental Management: Waste Act 59 of 2008

  • National Environmental Management: Air Quality Act 39 of 2004

  • National Environmental Management: Biodiversity Act 10 of 2004

  • National Environmental Management: Protected Areas Act 53 of 2003

  • National Mineral Resources Development Act 28 of 2002

  • National Heritage Resources Act 25 of 1999