Gasps as Mandonsela details ''missing millions'' in mining royalties
Johannesburg - Guests at a Public Protector feedback session gasped when they heard that the R617.3m first deposited into a North West community mining royalties account in 1995 had dwindled to R721 000 by July this year.The information was revealed on Saturday at a community briefing in Brits at one of Thuli Madonsela's final tasks as she prepares to leave office.
Speaking through an interpreter, Madonsela said the R617m initially deposited was made up of R392m in deposits by Lonmin and other businesses, and R224m in interest.
Her office has been investigating what happened to the Bapo-Ba-Mogale community's collective resources in its "D" account after the community wanted to know where the money went, what it was spent on, who authorised the spending and who the beneficiaries were.
They also wanted the alleged abuse of resources relating to the construction of Kgosi Mogale's palace to be investigated.
Madonsela's office explained earlier in a statement that the money generated for the "D" account is controlled by the Department of Co-operative Governance and Traditional affairs but there was nobody overseeing it. In 2014, the community stopped using the account, preferring a newly established investment wing for its resources.