Mining empowerment company Sephaku Holdings yesterday announced its first cement project, worth R2.5bn, in North West in a bid to get a slice of the booming construction industry.
Chief financial officer Morrison Smit said the company had acquired the rights to a substantial limestone deposit in North West where it planned to construct a new 2Mta cement plant, subject to a bankable feasibility study to be completed before the end of the year.
The construction phase is to start by the middle of next year and it is expected that the plant will be in production by 2010.
Cement division CEO Pieter Fourie said: "A number of existing plants have old and uneconomical capacity, some of which are more than 40 years old. There is enough sustainable demand to support new efficient capacity."
Smit said Sephaku was a black-owned development and exploration company, with Bulelani Ncguka’s Vuwa Investments and Saki Macozoma’s and Moss Ngoasheng’s Safika Resources as major shareholders.