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BEE STRUCTURE

Written by Mintails Admin on . Posted in About Us

Mintails SA has entered into an equity participation agreement with our Black Economic Empowerment partners, Kutana Investments, Bukhosi Ndimande, Matla Kopanong Trust and Kairos Foundation. In terms of the Heads of Agreement, concluded on 15 March 2013, the empowered partners will form an empowered company, NewCo (Pty) Ltd, which will hold 26% of the issued share capital of Mintails SA.

KUTANA INVESTMENTS

Kutana Investments is a Pan-African company focused on delivering significant shareholder value whilst contributing to the transformation of the economy and society at large. The company is 90% owned by black professional business women. The board and management team comprises of seasoned corporate professionals who have been at the helm of major corporates in various sectors of the South African economy and across South Africa. Kutana was founded in 2009 by Thoko Mokgosi-Mwantembe, Jackie Huntley and Janine De Bruyn. As a black owned and managed Investment Company, Kutana is fully committed to compliance with the codes of Good Practice and relevant sectoral characters for the sectors it invests in. Kutana is also committed to working holistically with investee companies in all aspects of the BEE scorecard. In its transactions the company co-invests on a deal-by-deal basis with relevant broad-based entities.

BUKHOSI NDIMANDE

Bukhosi Ndimande is an entrepreneur and businessman operating and managing a range of business enterprises in South Africa and Southern Africa. Mr Ndimande is the founder and owner of Phumula Consulting, a mining consultancy providing specialised advice in mine sealing and dewatering. He is also an owner and MD in Phephisa Mining (Pty) Ltd, a company providing underground contract mining, drilling, blasting and related services to the mining industry. Mr Ndimande has held key roles in the Chamber of Mines where he facilitated tri-partite dialogue between Labour, the Government and Industry.

MATLA KOPANONG TRUST

The Matla Kopanong Trust will be an employee trust for the benefit of the employees of the company. The minimum requirement would be an 80% participation of all employees in the group.

KAIROS FOUNDATION

The Kairos Foundation will be for the benefit of the local communities in the vicinity of the company’s mining operations and will be operated as a community trust delivering projects for the benefit of the community. 

Read more about the Mintails SA consortium of BEE partners >>

Company Structure

Planogram

Staff Structure

Planogram

VISION AND VALUES

In early 2012 the newly appointed management of Mintails called a collective meeting of all mangers and key staff within the company to contribute to the setting out Mintails’ new Vision and Values. The results from this collective thinking are as follows:

VISION

Our focus
Mintails undertakes gold mining and ore processing within the South African mineral resources market. The company has a key focus on the Rehabilitation and Improvement of the Environment it operates in and strives to leave a better place for the people directly affected by its mining activities.
Our model
By reclaiming the remnant and redundant surface tailings facilities in the areas in which we operate, we are able to restore the environment to internationally acceptable standards. The production of gold through the reclamation methodology funds the business model in a cost effective and safe manner, providing our shareholders with investment value and our employees and community with employment and developmental opportunities
Our core activities
Our vision allows management to focus on two core business activities:
  • Rehabilitation of the environment through re-processing of historical tailings, and
  • Being a gold producer sustaining its mining operations.

VALUES

The values as defined by the company are:

Value 1:
Sustainable growth - We pursue opportunities to maximise gold production thereby continuing to sustain and grow the business.
Value 2:
Environmental responsibility - We are strongly committed to acting as an environmentally responsible company and rehabilitator.
Value 3:
Profitable business - We continually strive to generate competitive shareholder returns by:
  • Meeting or exceeding business plan commitments,
  • Securing future gold resources,
  • Continuously improving the performance of our key resources – employees, our assets and our operating environment.

We conduct ourselves with transparency, honesty and integrity.

We seek all opportunities to be more efficient in what we do.

Value 4:
Developing our people - We continue to provide our people with opportunities to develop their skills.
We share risks and rewards in the workplace to promote innovation, teamwork and empowerment with accountability.
We embrace cultural diversity.
Value 5:
Health and safety - We strive to create workplaces which are free of occupational injury and illness.
Value 6:
Partnerships with community - We strive to form partnerships with our communities, respecting their environment, traditions and values.
We will continue to seek opportunities to invest in the communities affected by our operations.

Company History

Written by Mintails Admin on . Posted in About Us

COMPANY HISTORY

Background

The Witwatersrand Basin is a geological formation in the Witwatersrand, South Africa. It holds the world's largest known gold reserves and has produced over 1.5 billion ounces of gold historically. The basin straddles the provinces of Gauteng (formerly Transvaal) and the Free State.

Nearly half of all the gold ever mined has come from the extensive Witwatersrand Basin that was first found near Johannesburg in 1886. The gold occurs in reefs, or thin bands, that are mined at depths of down to 4,000m. Although many of the older mines are now nearly exhausted, the Witwatersrand Basin still produces most of South Africa's gold and much of the total world output.

Mintails in South Africa

Mintails actively started operations on the Witwatersrand Basin in 2006 when it successfully took Mogale Gold out of judicial management. Mintails recapitalised Mogale Gold by settling the judicial management creditors and reaching consensus with the judicial managers.

Over the following years Mintails entered into and acquired a number of other business ventures, most notably its share in the DRDGold/ERGO project on the East Rand, development of a uranium and sulphuric acid production plant at the Mogale mining complex and setting up a number of new exploration companies adding value to the Group.

The Company currently possesses world class assets on the West Rand and was successfully converted into a gold producer with a capacity to treat circa 6 million tonnes of slime, sand and hard rock material per annum, resulting in the extraction of over 50 000 oz of gold per annum.

During the early stages of the 2012, the Company commenced a due diligence of the West Wits Mining Limited resources on the West Rand. The final acquisition of these assets took place in May 2012. The acquisition covers two Mining Rights conferring the right to mine subsurface reef resources in an area approximately contiguous with the area upon which the Mintails ‘Randfontein Cluster’ of surface dumps exists. The leases contain stated JORC resources of 139,000 oz Au and a JORC reserve of 58,800 oz Au.

World class assets

The Company currently possesses world class assets on the West Rand and was successfully converted into a gold producer with a capacity to treat circa 6 million tonnes of slime, sand and hard rock material per annum, resulting in the extraction of over 50 000 oz of gold per annum. Mintails has access to some 300 million tonnes of slime on the West Rand alone.
Mintails controls approximately 106 million tonnes of tailing resources situated at its Soweto Cluster.
In addition, the Company owns a considerable property portfolio, which may over time be developed into a strategic asset class of its own.

New executive structures

During 2011 the company underwent a number of executive changes. On 15 June 2011 at an EGM of Mintails Limited (the Australian parent company) the shareholders appointed new Directors. The previous board, with the exception of Mr Mark Brune, resigned up to or on that date. It was recorded that the Chief Executive Officer, Mr Diederik Albert Van Der Walt, resigned with immediate effect and Mr Mark Brune was appointed Non-Executive Chairman.

The new Board immediately appointed Mr Jeremy Clark as interim acting CEO. Mr Clark stepped down from his temporary role and Mr Brune then assumed the role of Executive Chairman, with oversight of the day-to-day operations of the business.

The Board then appointed new management and started a process of consolidation and rebuilding of the company as well as investing in new asset acquisitions.

About us

Written by Mintails Admin on . Posted in About Us

About us 

Through the combination of our mining and rehabilitation aspirations, Mintails has substantial potential to deliver significant shareholder value and to leave a lasting legacy on the West Rand.

Tailings mining

Mintails Limited is a company listed on the Australian Stock Exchange (ASX). The name Mintails is a direct description of its original mining activities, which were the processing and production of gold from ‘the mining of tailings’. Most of the tailings being processed are located on the West Rand of the Witwatersrand Basin, near Johannesburg, South Africa.

Hard rock mining

Recently, Mintails acquired its own hard rock gold resources. Its mining operations for the future will focus on processing historical tailings as well as higher grade hard rock material to deliver the company’s gold output.

Mogale gold plants

Mintails has two gold plants situated at its Mogale mining complex. Total capacity of the two gold plants combined is circa 500,000 tons of material per month. The two gold plants are commonly known as “Gold 1” (150,000 tonnes capacity) and “Gold 2” (350,000 tonnes capacity). The Gold 2 plant has been in care maintenance for the past 18 months.

Land rehabilitation

Mintails plays an important role in addressing the rehabilitation requirements on the Witwatersrand Basin resulting from historic mining legacies. Mintails is developing a single solution on the West Rand for multiple tailings facilities by mining historical tailings and depositioning these into a single deposition facility identified for permanent closure. In addition there are a large number of un-rehabilitated mine shafts and open holings on surface. Through open cast mining, Mintails is removing the on-surface reef outcrops and stabilising the land, allowing the safe use of these areas for the surrounding communities.

Through the combination of our mining and rehabilitation aspirations, Mintails has substantial potential to deliver significant shareholder value and to leave a lasting legacy on the West Rand.

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