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ASSET MANAGEMENT POLICY

Mototolo Platinum Mine – MPLATS ENTERPRISE (PTY) LTD

1. PURPOSE

To establish guidelines and responsibilities for the effective management, safeguarding, maintenance, and disposal of company assets to maximize operational efficiency and protect company value.

2. SCOPE

This policy applies to all physical and intangible assets owned or leased by Mototolo Platinum Mine including equipment, machinery, vehicles, tools, IT hardware, software, and infrastructure.

3. ASSET CLASSIFICATION

Assets shall be categorized as:

  • Fixed Assets: Long-term assets like machinery, vehicles, plant infrastructure.

  • Current Assets: Inventory, consumables, and supplies.

  • Intangible Assets: Software licenses, intellectual property, patents.

4. ASSET REGISTRATION & TAGGING

  • All assets must be recorded in the Asset Register upon acquisition.

  • Each asset shall be assigned a unique identification number or tag.

  • Asset details including description, location, custodian, acquisition date, cost, and expected useful life will be recorded.

5. RESPONSIBILITIES

  • Asset Custodians: Department heads or assigned personnel responsible for safeguarding assets within their control.

  • Finance Department: Maintain the Asset Register, track depreciation, and report on asset status.

  • Procurement: Ensure proper authorization and documentation during asset acquisition.

  • Maintenance Team: Conduct regular inspections, servicing, and repairs.

6. ASSET USAGE & CARE

  • Assets must be used only for official company purposes and handled with care.

  • Employees must report any damage, loss, or malfunction immediately.

  • Unauthorized removal or disposal of assets is prohibited without prior approval.

7. MAINTENANCE & INSPECTION

  • Scheduled maintenance programs will be implemented to ensure operational readiness and prolong asset life.

  • Periodic physical verification of assets will be conducted at least annually to reconcile with the Asset Register.

8. ASSET DISPOSAL

  • Disposal of assets must follow formal procedures including management approval.

  • Obsolete, damaged beyond repair, or surplus assets may be sold, donated, or scrapped.

  • Disposal records including approval documents, sale details, and removal from the Asset Register must be maintained.

9. SECURITY & SAFETY

  • Assets must be secured against theft, damage, or misuse.

  • Access controls and physical security measures should be implemented based on asset value and sensitivity.

10. AUDIT & REPORTING

  • Internal and external audits of asset management will be conducted to ensure compliance.

  • Regular reports on asset acquisition, status, and disposals will be provided to senior management.

11. NON-COMPLIANCE

Failure to comply with this policy may result in disciplinary action and financial liability for damages or losses.

12. REVIEW

This policy shall be reviewed annually or as required to ensure its relevance and effectiveness.

Contact:
Asset Management Officer
Email: assetmanagement@mplats.co.za
Tel: 013 516 0556

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