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Gold/Mining/Energy : Precious and Base Metal Investing

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To: Elizabeth Andrews who wrote (26430)	1/6/2004 10:56:44 AM
From: Salt'n'Peppa	Read Replies (1) of 39344

Elizabeth, some good reading for you... Excellent articles and largely impartial as far as I can tell: allafrica.com Empowerment Prospers as IDC Has Busy Year Business Day (Johannesburg) Patrick Wadula Johannesburg THE Industrial Development Corporation (IDC) has spent more than R1bn on black economic empowerment deals and enabled the creation of more than 1-million jobs for the previously disadvantaged. The amount is part of the R80bn budget spend on small- and medium-sized enterprises that included empowerment deals. The figures come after the corporation announced recently that it was also establishing a R10bn empowerment fund to help with government's strategy on black economic empowerment. This was in addition to government's proposed R1bn empowerment fund. The IDC in the first half of this year was reported to have spent a total of R167m in investments in both Western and Eastern Cape. Between January and June this year, the IDC invested more than R101m in various businesses in Western Cape, resulting in a total investment value of over R650m since July 2001. The IDC also spent R66m in Eastern Cape in the first six months of this year, resulting in a total value of over R450m in IDC-related investments since July 2001. Earlier this year, the IDC helped launch a new partnership between Canada-based Etruscan Diamonds and the Mogopa community near Ventersdorp in North West. This was a multimillion rand deal, with the establishment of an alluvial diamond mine, and was substantially funded by the IDC. Sipho Mkhize at the IDC said the deal was set to bring lasting growth to the area, as it would provide employment opportunities and other benefits to the local community . In Eastern Cape, the IDC was able to assist in broad-based community empowerment, job creation and to bring nutrition to schoolchildren in the region through Nutri-More Products Africa. It's a start. More when I have time. Cheers, S&P

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