North West mine accused of fronting

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Bushveld Vametco community trusts are, allegedly, fronts. Photo: Tebogo Letsie/City Press
Bushveld Vametco community trusts are, allegedly, fronts. Photo: Tebogo Letsie/City Press

BUSINESS

Bushveld Vametco Holdings is being investigated following allegations of possible fronting. City Press has reliably learnt that land owners in Brits, North West, lodged a complaint with the Broad-Based Black Economic Empowerment (B-BBEE) Commission against the company on Tuesday.

Bushveld Vametco has been mining magnetite ore to extract vanadium, which is used as a steel additive in the motor industry and to produce tools.

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