 | |
| Company type | Unincorporatedjoint venture |
|---|---|
| Industry | Diamond mining |
| Founded | 1927 |
Area served | Richtersveld area, north-west coast of South Africa |
Key people |
|
| Revenue |  R 170.57 million[1] (2020) |
| R 5.98 million[1] (2020) | |
 R −109.38 million[1] (2020) | |
| Total assets | R 375.51 million[1] (2020) |
| Total equity | R 94.01 million[1] (2020) |
Number of employees | 915[1] (2020) |
| Website | alexkor |
Alexkor is a South African unincorporatedjoint venturediamond mining company that falls under theDepartment of Public Enterprises. It was previously astate-owned enterprise, when in 2007 it entered a government-funded pooling and sharing joint venture with theRichtersveld community.[2] The company's core business is diamond prospecting andseabed mining along the north-west coast of theNorthern Cape Province of South Africa up to the border with Namibia. It was founded through the proclamation of the Alexkor Limited Act, No. 116 of 1992 (amended by the Alexkor Amendment Act, No. 29 of 2001). The company mines both land and coastal deposits for diamonds.
In 2003 mining activity by the company had decreased significantly due to losing a land claim inAlexkor Ltd v Richtersveld Community instituted by the Richtersveld community in the area surroundingAlexander Bay.[3] This resulted in the company generating substantial losses between 2005 and 2009 and in turn lead to it accruing a debt of R275 million (US$41.4 million) in 2012 and receiving a R350 million bailout from national government in 2011.[3] The company reported the production of 41,941carats of diamonds in 2018 generating R409 million in revenue and R34 million in profit.[4][5]
The company was involved in corruption allegations involving theGupta family resulting in it being investigated by theZondo Commission of Inquiry into State Capture. In April 2022 the Zondo Commission recommended that the company's executives and chairperson be investigated for fraud and other corrupt activities involving Gupta connected companies.[6][7]
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