| Thu 8 May 2008, 13:45 | | TON - Tongaat Hulett - Media Release |
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TON - Tongaat Hulett - Media Release
Tongaat Hulett Limited
(formerly The Tongaat-Hulett Group Limited)
(Registration number 1892/000610/06)
Share code: TON
ISIN ZAE000096541
TONGAAT HULETT: MEDIA RELEASE - TONGAAT HULETT IN JOINT INITIATIVE TO DEVELOP
BLACK MAIZE FARMERS
Tongaat Hulett further enhanced its reputation in the area of Broad-Based
Black Economic Empowerment with the launch today of the Ithuba Farming
Project, an initiative in partnership with the Buhle Farmers` Academy. The
primary objective of the project is to increase the number of competent black
commercial maize farmers in South Africa.
CEO Peter Staude says, "As an agri-processing business we acknowledge that our
organisation has a meaningful role to play in land reform and skills
development in our areas of operation. Our medium scale farm program has to
date, resulted in the transfer of 98 farms, comprising 11 871 hectares of
land, to previously disadvantaged emerging farmers. Tongaat Hulett is one of
the largest buyers of maize in South Africa and the Ithuba Farming Project
presented us with an ideal opportunity to assist with the development of black
maize farmers and thereby ensure that the pool of farmers supplying our mills
increases."
Tongaat Hulett established a fully equipped farm at the Kliprivier Mill one of
its starch operating facilities. The company built residential accommodation
and the Ithuba Farming Project commenced operations in late 2007. Ten trainee
farmers have been involved in various aspects of commercial farming including
the planning and budgeting phase, soil sampling, fertilizer recommendations,
soil preparation, planter and fertilizer calibration, spraying, weed control,
mechanical operations, labour activities, record keeping, repairs and general
management of the farm. The Ithuba student farmers were supervised on a weekly
basis by Buhle staff and they were given the opportunity to practise their
newly acquired skills under careful supervision and mentoring in a trusted
environment.
"The partnership between Tongaat Hulett and Buhle Farmers` Academy is
excellent because it links the skills of the new farmers provided by the
Academy with commercial practise of these skills on Tongaat Hulett`s land. The
students have now proved themselves capable of embarking on their own
agricultural enterprises and they are ready to move onto land, negotiate
production loans and farm competitively in their own right", said Buhle
Farmers` Academy director Neil de Smidt.
Peter Staude concludes, "Tongaat Hulett continues to engage with the
Department of Land Affairs both regionally and nationally, seeking to build
relationships as well as an understanding of the role that the company can
play in assisting the land reform process. We are committed to the upliftment
of skills in the areas in which we operate and we will continue to look for
opportunities to increase the contribution that we as an organisation are
making to the benefit of all South Africans."
About Tongaat Hulett
Tongaat Hulett is an agri-processing business which includes the integrated
components of land management, property development and agriculture. Through
its sugar and starch operations in Southern Africa, Tongaat Hulett produces a
range of refined carbohydrate products from sugar cane and maize. It has
considerable expertise in downstream agricultural products, bio-fuel
production and electricity cogeneration. Competition for alternative land
usages is increasing rapidly. Tongaat Hulett balances the operational
requirement for cane supplies to its sugar operations with the transition to
property development.
The Financial Mail (FM) Top Empowerment Companies (2008) publication
acknowledged Tongaat Hulett as being one of only four companies, listed on the
main board of the Johannesburg Stock Exchange (JSE) that attained a Level
Three Contributor status. Tongaat Hulett was awarded the inaugural Alec Rogoff
Broad-Based Black Economic Empowerment Award, an initiative by the Durban
Chamber of Commerce and Industry, and National Empowerment Rating Agency KZN
(Pty) Ltd (NERA KZN) that seeks to recognize Broad Based Black Economic
Empowerment achievers in KwaZulu-Natal.
Tongaat
08 May 2008
Sponsor
INVESTEC BANK LIMITED
Date: 08/05/2008 13:45:02 Produced by the JSE SENS Department.
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