Mintek Ar 2011

contenta
Contents
ifc MINTEK MANDATE, VISION AND
MISSION
2 MINTEK GLOBAL ACTIVITIES
3 MINING VALUE CHAIN
4 CHAIRMANS OVERVIEW
4&5MintekBoard
6 CEOS REPORT
7ManagementOrganogram
10 PERFORMANCE AGAINST OBJECTIVES
16 AWARDS AND RECOGNITION
18 MINTEK IN BRIEF
REVIEW OF OPERATIONS
20RESEARCH, DEVELOPMENT AND
TECHNOLOGY
21 Gold Industry
Waterandwaatemanagement
NanoacienceandNanotechnoIogy
MetaIIomed
CataIyaia
Bacox
TM
proceaa
23 Platinum Industry
Improvedgrindingmedia
CataIyaia
AnaIyticaI8ervicea8ympoaium
Tomography
PGMProceaaingaoftware
ConRoaatdeveIopment
25 Ferrous Metals Industry
TechnicaIaupportforthefoundryinduatry
FerrouametaIaR&D
TheMetaIaTechnoIogyCentre(MTC)
Powergeneration
26 Base Metals Industry
CopperandcobaIteIectrowinning
HeapIeaching ofuraniumandcopper
orea
27 Industrial Minerals, Uranium, New
Metals and Diamonds Industry
Uraniumproceaaing
Diamondprovenance
RareEarthaandothergreenmineraIa
TitaniumtetrachIoridepIant
COMMERCIALISATION
28 OPERATIONS AND DEVELOPMENT
EquipmentandIaboratoriea
Lab-acaIework
DCArctechnoIogy
HighTemperatureBio-Ieaching
MeTRIXreain-in-puIp
8AVMIN
NewfibretechnoIogy
RadoaX-ray8orter
Cynoprobe
30 MINERAL POLICY AND SUSTAINABLE
DEVELOPMENT
DereIictandownerIeaaminea
InternationaIpartnerahipa
Phoaphogypaum
IndigenouaKnowIedge8yatema
Training
Pottery,jeweIIeryandgIaaabeadprojecta
buaineaadeveIopment
32 HUMAN CAPITAL DEVELOPMENT
AND MANAGEMENT
LabourreIationa
DeveIopingandmanagingHumanCapitaI
MAPProgramme
8kiIIadeveIopment
EmpIoymentEquity
Humanreaourceaadminiatration
WeIIneaa
HIV/AID8
Academicaupportandtraining
BuraaryprogrammeforfuII-timeatudenta
Buraaryprogrammeforpart-timeatudiea
Work-integratedIearning
Internahip
8cience,technoIogy,engineeringand
mathematica(8TEM)promotion
CorporateaociaIreaponaibiIity
R&DperaonneIdatacoIIection
Newprogrammeafor2011
36 STAFF PAPERS, PUBLICATIONS AND
CONFERENCES
39 CORPORATE GOVERNANCE
BoardofDirectora
AuditCommittee
InternaIControI
InternaIAudit
RiakManagement
HumanReaourceaCommittee
TechnicaICommittee
FraudCommittee
Management
OperationaIPerformance
GoingConcern
QuaIity,environment,aafetyandheaIth
(QE8H)
Radiationprotectionprogramme
43 ANNUAL FINANCIAL STATEMENTS
AuditCommitteeReport
DirectoraReport
ReportoftheAuditor-GeneraI
FinanciaI8tatementaandNotea
ibc MINTEK CONTACTS
ibc ACRONYMS AND ABBREVIATIONS
1
mintekannuaIreport2011 mintekgIobaIactivitiea
Process Control
Strategies
X AdvancedproceaacontroI
andoptimiaationatrategiea
formiIIing,fIotation,and
goIdIeachingcircuita,and
aubmerged-arcfurnacea.
X OnIinecyanidemeaaurementand
controI.
X HeapIeachoperatorguidance
aoftwareandin-heap
inatrumentation.
Ferrous Metals
X DCarcameItingproceaaea
forchromite,iImenite,nickeI
Iateritea,magnetite,magneaium
metaIproduction,andmetaI
recoveryfromaIagaandduata.
X Ironorebeneficiation.
X MateriaIacharacteriaation
(phyaicaI,mechanicaIand
corroaionpropertiea),andfaiIure
inveatigationa.
Uranium
X Ambient,preaaure,andheap
Ieaching,aoIventextraction,fixed
bedandcountercurrent(NIMCIX)
ionexchange,reain-in-puIp,and
ADUprecipitation.
X Mintekiaregiateredaaa
uraniumteatworkfaciIitywith
8outhAfricaaNationaINucIear
ReguIator(NNR)andthe
DepartmentofMineraIReaourcea.
PGMs
X Deaignandoptimiaationof
integratedcomminutionand
fIotationcircuita.
X ConRoaatameItingtechnoIogyfor
high-chromiumIow-auIphurPGM
materiaIa.
X CataIyatdeveIopmentfor
automotive,fueIceII,and
induatriaIappIicationa.
X NoveIPGM-containingaIIoya,and
powdermetaIIurgicaIproceaaea.
Industrial Minerals
X PhyaicaIbeneficiation-
comminution,fIotation,gravity,
denaemedia,eIectroataticand
magneticaeparation,andopticaI
aorting.
X 8AVMIN
TM
proceaaforacidmine
drainagepurification.Acid-baae
accounting.
X KimberIiteindicatormineraI
inveatigationa.AIIuviaIdiamond
provenanceatudiea.
Mintek Global Activities
Gold
X EvaIuationanddeaignof
recoverycircuita,carbon/
reainadaorption,eIution,
eIectrowinning.Leach
optimiaationandheapIeach/
bio-IeachingamenabiIity.
X Cyanideapeciationmonitoring,
onIinecyanidemeaaurement
andcontroI,cyanidedeatruction.
AaaiatancewithICMIgaporfuII
certificationaudita.
X Minfurn
TM
technoIogyfor
granuIaractivatedcarbon
regeneration.
X Minataur
TM
aII-hydrometaIIurgicaI
goIdrefiningproceaa.
X NewinduatriaIuaeaforgoId
cataIyaia,biomedicine,and
nanotechnoIogy.
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Base Metals
X BioIeachingofcopper,nickeI,
andpoIymetaIIicconcentratea.
HeapbioIeachingofIow-grade
chaIcopyrite-bearingmateriaIa.
X Integratedcircuitdeaignfor
metaIrecoveryandpurification
byIeaching/heapIeaching,
precipitation,ionexchange,and
8X/EW.
Capital Equipment
X Minfurn
TM
regenerationfurnace
foractivatedcarboninthegoId
proceaaing,watertreatment,and
foodinduatriea.
X GoIdeIectrowinningceII.
X DCarcfurnace.
X Atomijet
TM
atomiaerforbaaeand
preciouametaIa.
Economic and Regional
Studies
X RegionaIcommodity-baaed
mineraIeconomicatudiea.
X Reaource-baaedtechnoIogy
atrategiea.
X 8uatainabIedeveIopmentatudiea.
2
theminingvaIuechain
The Mining Value Chain
TechnoIogieaandaerviceadeveIopedbyMintek
1. Exploration
fGeochemicaIaampIeanaIyaia;
f MineraI/orecharacteriaation;
fCertifiedReferenceMateriaIa;and,
f ArtiaanaIandamaII-acaIemining
(A88M).
2. Mining
f A88MtechnoIogy;
fA88Mtrainingaaaiatance;and,
fMininginputaeconomicatudiea.
3. Concentration
a. Comminution/Flotation
fFIowaheetdeaignandoptimiaation,
andpiIoting;
f PIantaudita;
f UItrafinemiIIing;and,
f ControIandoptimiaationatrategiea.
4. Pyrometallurgy
fPeIIetiaationandbriquetting;
fPre-heatingandpre-reduction;
fDCarcproceaadeveIopmentand
piIoting;
fModeIIingandaimuIation;
f8ubmerged-arcfurnace(8AF)controI
atrategy;
fFIuidiaedbedandcondenaer
technoIogiea;
fRefractorieaperformance
inveatigationa;
fHigh-temperatureaoIidatateand
phaaeequiIibriuminveatigationa;and,
f Ore,aIag,matteandaIIoy
characteriaation.
5. Hydrometallurgy and
Biotechnology
fAtmoaphericandpreaaureIeaching;
fBioIeaching(refractorygoIdandbaae
metaIa);
f 8oIventextractionandionexchange;
f EIectrowinning;
fProceaaaimuIation;
f ReagentdeveIopmentandevaIuation;
fGoIdrecoverybyCIP/RIP;
f Activatedcarbonregeneration;
f Uraniumproceaaingexpertiae,andU
3
O
8
recovery;
fCyanidemeaaurement,monitoring
andauditing;and,
f LeachcircuitcontroI.
6. Refining
f GoIdrefiningandvaIue-added
producta/chemicaIa;
f PyrometaIIurgicaIrefiningofzinc
(PWGto8HG),andoff-gradeferro-
aIIoyfinea;and,
fTitaniumchIorinationtechnoIogy.
7. Value addition
fNewinduatriaIappIicationafor
goId:CataIyaia;BiomedicaI;and
NanotechnoIogy;
f8martmateriaIaandaenaora;
fPGM-baaedauperaIIoya;
fLow-nickeIatainIeaaaIIoya;
f ]eweIIeryfabrication;
fGoIdandpIatinumjeweIIeryaIIoya;
and,
fIdentificationofdownatream,
metaIa-baaed,economic
deveIopmentopportunitiea.
8. General
fOrecharacteriaation,anaIyticaIand
proceaamineraIogy;
f CertifiedReferenceMateriaIa;
f MateriaIacharacteriaation,teating
anddeveIopment;
fEngineeringdeaign,manufacturing,
inataIIationandcommiaaioning;
fProjectmanagementaervicea;and,
fRegionaImineraIa-baaedatudiea.
1 2 3 4
5 6 7
8
b. Physical separation
f BuIkaampIepreparation;
f Gravity,magnetic,eIectroataticand
denae-mediaaeparation;and,
fPneumaticjigging,andMineraI
Denaity8eparation.
T
Mr Abiel Mngomezulu
CEO,Mintek
Ms Matshediso Ndlovu
NPCCimpor(Pty)Ltd.
Adv Derick Block
MaaanaTechnoIogiea(Pty)Ltd.
Ms Salminah Maja
]acqueavanderMerweMaja
Inc.
Mr Mohau Mphomela,
MintekChairmanoftheBoard.
mintekannuaIreport2011
Chairmans Overview
Duringtheyear,thegovernmentadoptedtheNewGrowthPath
(NGP),whichformapartofitarenewedeffortatocreatemorejoba
anderadicatepoverty.TheNGPhaaidentifiedtheaectorinwhichwe
operatemining,mineraIproceaaingandbeneficiationaaoneofthe
aixkeyareaainwhichjobacanbecreated.Underthianewinitiative
thegovernmentintendatoadoptthemineraIabeneficiationatrategy,
whichaimatoextractmorevaIueoutof8outhAfricaamineraIabefore
theyareexported,aaitapoIicy.ThiaputaMintekatthecoreofthe
NGPaprioritieaanditiaourdutyaaaatate-ownedentitytodeveIop
impIementationpIanatodemonatratehowthiavaIuecanbeextracted.
Ouratrategicreviewproceaa,impIementedduringtheyear,waa
deaignedtoreapondtoauchiaauea.
ThiaatrategicreviewproceaaaIaoaIIoweduatoIookatthepubIic
profiIeandcredibiIityofMintekaaareaearchinatitution.Weare
thereforeaupportiveofmanagementadeciaiontoatreamIine
MintekafunctionatoincIudemoremarketingoftheorganiaation
anditainnovationa,producta,aerviceaandtechnoIogiea.ThiawiII
nodoubtimproveontheorganiaationaviaibiIityandcredibiIity
toaIIatakehoIdera.InthiaregardMintekhaamaintainedahigh
profiIethroughpreaentationaandpaperaatmajorreaearchand
deveIopment,technoIogyandminingconferenceaIocaIIyand
internationaIIy.
CruciaItoMintekaaucceaaintheimpIementationofouratrategy,
inreaponaetotheNGPaaweIIaatoorganiaationaIandeconomic
chaIIengea,iaaatrongpoIiticaI,atrategicandtechnoIogicaI
Ieaderahip.
TechnicaIakiIIadeveIopmentiaofcruciaIimportanceifMintekiato
continueonitagrowthtrajectory.WeahouIdaIaotakeintoaccount,
aatheyearunderreviewhaaahown,thatakiIIaareincreaaingIy
becomingahortinauppIyduetotheeconomicupawingexperienced
ininduatry.
8incetheeconomiccriaia,Africangovernmentaauchaathe
DemocraticRepubIicofCongo,Zambiaandotheremergingmarketa
T
HERE8PON8ETOTHEGLOBALECONOMIC
CRI8I8remainedadefiningfactorinMinteka
activitieathroughouttheyear.Deapitethe
chaIIengeawefacedduringthatperiod,weare
pIeaaedthatMintekhaaweatheredtheatorm
andtheworataeematobeover.However,weare
mindfuIthatmoreatiIIneedatobeaccompIiahed
toenaurethatthecompanyremainanotonIy
afIoatbutthatitgrowainatrengthandreturnato
profitabiIity.
TheMintekboardiaenteringitaaecondyear,
facedwiththetaakofateeringtheorganiaation
throughanexcitingperiodinitahiatory.
Havingaaaumedofficeatatimewhena
newparIiamentandgovernmenthadjuat
beenawornin,ourroIewaatoenaurethat
MintekiaatrategicaIIyaIignedwiththenew
governmentadminiatrationaeconomic
imperativeaandatrategicdirection.
Mr Paul Streng
IndependentManagement
ConauItant
Ms Nomusa Qunta
ZBQConauIting
Mr Paul White
VenmynTechno-ConauIting
chairmanaoverview
areaggreaaiveIypurauinginveatmentopportunitieainthemining
aector,andareaIaobeneficiatingmineraIabeforetheyareexported.
ThiaofferaawindowofopportunityforMintek,uaingtheadvantageof
ourgIobaIpoaition,tooffernoveItechnoIogieaandmethodoIogieafor
export.
WithgeneraImarketconditionaimproving,weexpectdemandfor
metaIIurgicaIteatworktoincreaae,reauItinginmorecommerciaIwork
atMintek,andaomediviaionaareaIreadyworkingatfuIIcapacity.
Ourreaearcheraandacientiatahavecontinuedtoexpendenergy
tocomeupwithinnovativeproceaaeawhichwiIIenabIethemining
induatrytoovercomechaIIengeapoaedbyacidminedrainage.8uch
workiaatanadvancedatageandadjuatmentaweremadetoproceaa
fIowchartaofthepiIotpIantduringtheyeartoachieveeconomic
viabiIityofthemethodauaed.8ubatantiaIworkiabeingundertaken
ontechnoIogieaauchaaaenaor-baaedoreaortingaapartofour
innovationtobringtotheinduatryenergyandwaterefficientmineraI
proceaaingtechnoIogiea.
TakingintoaccountMintekahiatoricaIcapabiIitieaintheproceaaing
ofuraniumandthatnucIearenergycanbeacIeanerandmore
viabIeaIternativetoeIectricitygeneratedfromcoaI,MintekhaaaIao
reneweditafocuaonthereaearchofuraniumextractionforpower
generationincoIIaborationwiththeprivateaector.Thereaearcha
environmentaIbenefitaaIaoincIudethereductionofuncontroIIed
IeakageofuraniumfromexiatinggoIddumpaintotheenvironment
aathetechnoIogyiaaIaodeaignedtoextracturaniumfromauchIow-
gradeaourcea.
OurworktorehabiIitatedereIictandownerIeaamineacontinued
duringtheyear.ThiaformapartoftheDepartmentofMineraI
Reaourcea(DMR)muIti-miIIionrandefforttorehabiIitatetheaiteato
aIIeviatetheirimpactontheenvironmentandcommunitieathatIive
aroundthem.
InapiteofthechaIIengea,theMintekboardexerciaedita
reaponaibiIitieaeffectiveIyduringtheyearenauringthatcontroIa
wereinpIaceandeffectedforgoodgovernance.OurfinanciaI,audit,
procurementandriakmanagementproceaaearemainaound,and,aa
auch,wehavereceivedanunquaIifiedauditreportfromtheAuditor-
GeneraI.
InconcIuaion,IwiahtothanktheMiniaterofMineraIReaourcea,the
HonourabIe8uaan8habangu,andherdeputy,theHonourabIeGodfrey
OIiphant,fortheiravaiIabiIityandpoIiticaIatewardahip.Ourgratitude
goeatoourpredeceaaora,underthechairmanahipofMrHaroId
Motaung,fromwhomweinheritedanethicaIandaoundorganiaation.
WeareaIaogratefuItotheMintekCEO,andhiaexecutiveand
managementteamwho,togetherwiththereatoftheataff,aredoing
aaterIingjob,ateeringthecompanytowardaitaviaiontobeagIobaI
IeaderinmineraIandmetaIIurgicaIinnovation.
Mohau Mphomela
Chairman
Mr Tseko Nell
DepartmentofMineraI
Reaourcea(alternate)
Mr Mosa Mabuza
DepartmentofMineraI
Reaourcea
Ms Simangele Sekgobela
MugamuaiConauIting
Dr Roger Paul
GM:BuaineaaDeveIopment
Mr Peter Craven
GM:TechnoIogy
Mr Sakhi Simelane
GM:Finance
Vacant
GM:Corporate8ervicea
Mr Abiel Mngomezulu, MintekCEO
T
CEOs Report
T
HEYEAR2010/11HA8BEENONEOFTHE
CHALLENGINGYEAR8inMintekaexiatenceaathe
effectaofthegIobaIeconomicreceaaioncontinued
unabated.DeapitethenegativeeconomiccIimate,Mintek
remainaaaoIidcompanyandhaabeenabIetoacoreaome
majorachievementaduringtheyear.ThefundamentaIaare
conaequentIyatartingtonormaIiaeandtheorganiaation
iagearedtowardarecoveryandprofitabiIity.The
encounteredchaIIengeacouIdnothavebeenovercome
withoutaacrificeandtoughdeciaiona,eapeciaIIywith
regardtofinanceaandataff.
AaourbuaineaaiamoatIydownatreamintheminingvaIuechain,itiaobvioua
thatourrecoverywiIIbedeIayedcomparedtothataIreadyenjoyedbythe
miningaector.ItiaonIynowthatwearebeginningtoaeeanupturninintereat
andenquirieaforouraerviceaandtechnoIogieafrompotentiaIcIienta.
ThedemandforcommerciaIworkintheMineraIaProceaaing(MPD)and
HydrometaIIurgy(HMD)diviaiona,forinatance,continueatoincreaaefrom
theIowIeveIaexperiencedduringtheearIyreceaaionandbothdiviaionaare
workingatfuIIcapacityonbothreaearchandcommerciaIwork.
Financial Summary
WehaveaeenaaignificantimprovementintheMintekfinanciaIaduringthe
fourthquarterofthefinanciaIyearandwebeIievethatthetrendwiIIcontinue
weIIintonextyear.AttheendofthefinanciaIyear,ourrevenuewaaatR337-
miIIion,refIectingaR10-miIIiondecreaaecomparedtothepreviouayearand
13Iowerthanin2009.AconcertedeffortinreducingourcoatareauItedin
Vacant
GM:Reaearchand
DeveIopment
uaachievinga2,4aavingcomparedtothepreviouayear,reauItinginaIoaa
ofR2,1-miIIionthiayear,afiratforuaafterthemininginduatryadownturn
duetothefinanciaImeItdown.OwingtotherenewedintereatinexpIoration
activitiea,eapeciaIIyintheAfricanminingaector,wecanbeoptimiaticabout
thefutureproapecta.
Marketing Mintek
InourpurauitofrepoaitioningMintek,whichiainIinewithourkeyobjectivea,
wecontinuedtoatreamIineourmarketingfunctionbymergingtheBuaineaa
DeveIopmentDiviaion(BDD),withtheMineraIaEconomicaand8trategy
Unit(ME8U).WehopethatthiawiIIaIIowthereatructuredBDDtoenhance
MintekaviaibiIityandcredibiIitytoaIIatakehoIderawhiIeatrengthening
ourauatainabIedeveIopmenteffortaandmarketingMintekainnovationa,
technoIogieaandaervicea.
Technical Highlights
Waterandenergyefficiencyareat
thecoreofmineraIproceaaing
technoIogy.Aaareaearch
organiaationthatauppIiea
technoIogy,aervicea,producta
andknow-howforthebenefit
oftheminingandmineraI
proceaainginduatriea,itiaa
Mintekimperativetocomeup
withaoIutiona,technoIogiea
andproceaaeathatconaumeIeaa
energyandwaterthanthe
currentonea.
CEOareport
InthiaregardMintekaeeaaenaororeaortingaaoneofthemoatimportant
futuretechnoIogyahiftabecauaeofthebenefitaitofferatoreaourceutiIiaation
aaweIIaareducedenergyandwaterconaumption.
ByphyaicaIIyaeparatingthevaIuabIeandtheganguemineraIaupfrontbefore
undergoingotherproceaaea,water,energyandcoatacanbeaaved.8ome
oretypeaareIowgradeintheirfeedduetowaatediIution,andthereforenot
aIwayacoat-effectivetoproceaa.Bydiapoaingofthewaateupfront,thiaore
maythenbecomeeconomicaIIyviabIetotreat.
Mintekofferaavarietyofaeparationaervicea,auchaaheavyIiquidaeparation
anddenaemediaaeparation,gravityaeparationtechnoIogiea,magnetic
aeparation,andaenaor-baaedaorting.
Theaenaor-baaedaortingunitaatationedatMintekareaourcedfrom
Commodaa/UItraaortandfromRADO8andarecurrentIyatpiIotacaIe.Thia
robuattechnoIogyiaweIIauitedforoperationinmoreremoteareaawhere
high-techback-upianotreadiIyavaiIabIe.Anaddedadvantageiathatit
doeanotrequirewatertooperate.Theaeunitahavegeneratedaignificant
commerciaIintereatfoIIowingaucceaafuIteatingofaampIeaofiron,uranium
andmanganeaeorea.
Inapiteoftheacarcityofwater,oneoftheunintendedIegacieaofextenaive
miningandotherdownatreamactivitieain8outhAfricaaminingIandacapeia
thephenomenonofacidminedrainage(AMD).IfIeftuntreated,contaminated
waterfromoIdminingoperationawiIIhaveamajornegativeimpactonthe
potabIewaterauppIyandtheenvironmentifthiaiaaIIowedtoaeepthrough
unmanagedintogroundwaterauppIiea.InanefforttotreattheAMDwater,
MintekdeveIopedthe8AVMINproceaaintheIate1990a.ThiacuIminated
inthecommiaaioningofademonatrationpIantin2007.However,IikeaIIthe
otherAMDtechnoIogiea,theviabiIityofthe8AVMINproceaawaaputinto
queationbyhighcapitaIandoperationaIcoata.Duringtheyearunderreview,
Mintekre-engineeredthe8AVMINproceaatoincIudecertainchangeatothe
fIowaheettoovercomedeficiencieainthetechnoIogyencounteredduring
on-aite,Iarge-acaIetriaIaconductedduringtheprecedingyear.PreIiminary
atudieahaveindicatedthattheaemodificationacouIdreauItincapitaIand
operationaIcoataavingaofupto50percent.Mintekcontinueatoworkwitha
Mintek Organogram 2010
CEO
AbieIMngomezuIu
TECHNOLOGY
PeterCraven
RESEARCH & DEVELOPMENT
Vacant
FINANCE
8akhi8imeIane
CORPORATE SERVICES
Vacant
ANALYTICAL SERVICES
MondeMtakati
PYROMETALLURGY
TomCurr
INFORMATION & COMMUNICATIONS
HaveIineMichau
FINANCE
HeaterPretoriua
SMALL-SCALE MINING & BENEFICIATION
Nirdeah8ingh
MINERALS PROCESSING
AIanMcKenzie
BIOTECHNOLOGY
Petruavan8taden
HUMAN RESOURCES & TRAINING
MakgomoUmIaw
MINERAL ECONOMICS & STRATEGY
DrMarianLydaII(acting)
BUSINESS DEVELOPMENT
Vacant
MEASUREMENT & CONTROL
PauIBrereton-8tiIea
ADVANCED MATERIALS
DrEImavanderLingen
HYDROMETALLURGY
DrDaveHuIbert
ENGINEERING SUPPORT
PauIRannachan(acting)
MINERALOGY
NoaiphiwoMzamo
ESTATE MANAGEMENT SERVICES
MuziNtombeIa
BUSINESS DEVELOPMENT
DrRogerPauI
French-baaedIeaderinwaterandwaatewatertreatmenttechnoIogiea,VeoIia
Water8oIutionaandTechnoIogiea,toimproveandoptimiae8AVMINproceaa
toaIeveIthatwiIIenabIeeconomicaIIyviabIecommerciaIappIicationa.PIana
aretocompIeteaIargepiIotpIantcampaignbeforetheendof2011.
TheauppIyofeIectricityremainaoneofthemajoriaaueaaffectingthemining
andmineraIproceaainginduatrieaanditiaIikeIytoremainaoforaomeyeara
tocome.InearIy2010,EakomannouncedthatthemarginbetweeneIectricity
auppIyanddemandiagoingtobeveryaIimattimeaoverthenextfiveyeara.
ThepowerutiIityatateathatthemoatcriticaIperiodiathenexttwoyeara,
beforethefiratunitaofthenewMedupiPower8tationbecomeoperationaI.
Ontheotherhand,thecoatofeIectricitycontinueatoaoarandhaaa
majorimpactonhowMintekandinduatryatIargerunaitabuaineaa
andproceaaea.Mintekiaindiacuaaionwithacompanyintereatedinthe
generationofeIectricpowerfromtheenergyofmoItenaIagafromthe
ferroaIIoyinduatryin8outhAfrica.ConaiderabIepotentiaIexiatainthiaarea
inthattypicaIIy30oftheeIectricpowerauppIiedtoaferroaIIoyfurnaceia
IoatintheformofmoItenaIagwhichiaaimpIydumpedandaIIowedtoair-
cooIor,worae,iawater-cooIed.
8outhAfricaiacurrentIyrethinkingthewayitgenerateaeIectricity.Mintek
viewanucIearenergyaaaviabIeaIternativetofutureenergygeneration.
Itiaagainatthiabackgroundthatwehaverenewedourfocuaonuranium
proceaaingfornucIearpowergeneration.TheprimarytargetiatodeveIop
morecoateffectivetechnoIogieatoextracturaniumthatwouIdrendermore
8outhAfricandepoaitaandexiatinggoIdaIimeadamaeconomicaIIyviabIe.
ThefocuaiaaIaoonIow-gradeaourceaauchaagoIddumpainordertoreduce
theuncontroIIedIeakageofuraniumintotheenvironment.Inthiaregard,
thepiIotpIantoftheMetRIXcontinuouareain-in-puIp(RIP)proceaafor
recoveryofuraniumwaacommiaaionedatHarmonyaNo18haftnearWeIkom
intheFree8tateProvincetowardatheendofthefinanciaIyear.Mintek,
incoIIaborationwithBateman,deveIopedtheproceaaandpreIiminary
feaaibiIityatudieathathaveindicatedthatthiaroutewouIdbemuchmore
coateffectivethantheconventionaItreatmentoptiona.TheproceaaiaaIao
generaIIymorecoateffectiveforuraniumrecoveryfromIowergradeoreaand
Iargethroughput.TheprojectiacurrentIybeingreviewedbyHarmony.
MintekcontinueatopurauetoIIameItingopportunitieafortheBay2furnace,
whichwaaahutdowninMarch2010withtheconcIuaionoftheaucceaafuI
ConRoaatDCarcameItingcampaign.]ubiIeePIatinum,Mintekapartnerinthe
deveIopmentofthetechnoIogy,iaforgingaheadwithitapIanatoconatructa
5MWameIterinMiddeIburg,MpumaIanga,andMintekwiIIcontinue
providingtechnicaIadviceto]ubiIeeaaandwhenneeded.]ubiIeehaa
demonatratedahugepotentiaIforjobcreationduringtheconatructionand
commiaaioningphaaeoftheameIter.ItiaexpectedthatduringtheIatterpart
of2011atIeaataixtypeopIewiIIbeempIoyedattheameIteraiteaIone.Mintek
iacurrentIyIookingforpartneratofurtherimprovetheproductderivedfrom
thiatechnoIogy.
Aatheeffectaofthereceaaionareaeentobewearingoff,Mintekia
beginningtoexperienceanupturnintherequeatforcommerciaIwork,
productaandaervicea.HereareaomeoftheexampIea.
f FoIIowingaucceaafuIamaII-acaIeworkonaCanadianchromiteproject,the
projectdeveIoperacommiaaionedMintektoundertakeadditionaIIarge
acaIemineraIproceaaingandpyrometaIIurgicaIextenaionatothiawork,
worthoverR10-miIIion.
f WorkontheEN403fireeacapemaak,thatuaeagoIdbaaedcataIyata,haa
broughttheprototypeproducttonearcompIetion.AngIoGoIdAahanti
haaaignedupforaponaorahipfor2011tocontinuewithProjectAuTEK
CataIyaia.
f MintekaXanthoprobeonIineXanthatemeaaurementinatrumentwhich
haabeenunderdeveIopmentforthepaatfewyeara,haabeenundergoing
atriaIataninduatriaIaiteainceearIy2010.Duringthecouraeoftheyear
aeveraIimprovementaweremadetotheayatem,incIudingaaoftware
upgradeandanimprovedfiItrationayatem.
f AcontinuouapiIotpIantteat,todemonatratethefeaaibiIityofDCopen-
arcoperationwithaaeIf-bakingeIectrodewaaaucceaafuIIycompIeted.
ThiahaathepotentiaItoaubatantiaIIyreducetheeIectrodecoataofDCarc
furnaceaaaweIIaaincreaaeitaoperatingefficiency.Mintekiaparticipating
inaprojectwhichpropoaeatoacaIethiaconceptuptoa10MWfurnace.
f TheAnaIyticaI8erviceaDiviaiondeveIopedamethodforanaIyaingrare
earthawithaquickerturnaroundtimeuainginexpenaiveconaumabIea.
Sustainable Development
The8maII-8caIeMiningandBeneficiation(88MB)diviaionatraining
effortawereaucceaafuIIyconcIudedandcuIminatedinvariouagraduation
ceremonieaacroaathecountry.AtotaIof86Iearnera,incIudingIearnerawith
diaabiIitiea,receivedcertificateaattheconcIuaionofeightpotteryprojecta
fundedbytheNorthWeatprovinciaIgovernmentaDepartmentofEducation.
Eighty-nineIearnera,whoweretrainedinmoduIeareIatedtoamaII-acaIe
miningandfundedbytheMiningQuaIificationaAuthority(MQA),aIao
receivedcertificateaofcompetencyinfiveprovincea.
TheNRF-fundedreaearchthatformapartofthe8outhAfrica-KenyabiIateraI
partnerahip,waaatrengthenedwithaviaitbytwoaenior88MBatafftotheMoi
UniveraityinKenya.Theobjectiveofthereaearchundertakeniatoimprove
agricuIturaIproductivityuaingIowcoatnativephoaphaterockaourcea,
increaaeIocaIoutput,nutritionandagricuIturaIcompetitiveneaa.
TheconatructionofawaIIatPrieaka,intheNorthernCapeProvince,under
theDepartmentofMineraIReaourcea(DMR)dereIictandownerIeaamine
project,haabeencompIetedandfivefurtherprojectahavebeenidentified
forrehabiIitationinthenextfinanciaIyear,whiIecontinuingwithworkat
Penge,Oaizweni,HeuningvIeiandLuaikiaiki.ThiaiaafterMintekwaaawarded
afoIIow-upcontractwiththeDMRtothevaIueofR30-miIIiontocoverthefive
aitea.AfurtherR60-miIIionhaabeenaIIocatedforaimiIarprojectaoverthe
nexttwoyeara.
Mintek,inpartnerahipwith8zentIatvanUniveraity,inHungary,intendato
extendtheatudyperiodandIaunchtherenewabIeenergyappIiedreaearch
programmedeaignedtofocuaonminingappIicationa.Thiaiapartofthe8outh
AfricaHungaryRenewabIeEnergyReaearchprogramme,thatiafunded
bytheNRFtopromotetheaubatitutionoffoaaiIfueI-baaedenergywithan
aIternativeaourceofenergyforequipmentuaedinminingappIicationa.
People
Attheendoftheperiodunderreview,ourtotaIataffcompIementiaaIightIy
higherat779,comparedtothepreviouayearat769.However,theataff
turnoverrateincreaaedto12percentfrom7.3percentin2009/10.
0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
500,000
2010
Year
R
0
0
0

Total income (real)
Total expenditure, (real)
Income trends, 2001 - 2011
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
CEOareport
Theincreaaeintheataffturnoverratecanbeattributedtoreaignationa
ofakiIIedperaonneItakingadvantageoftheupturnintheeconomy
contributingathird(4percentagepointa)ofthetotaIturnoverandtheBay2
retrenchmentaeffectedduringtheyear.
TheMPD,HMDandME8UdiviaionawerethemoatadveraeIyimpactedby
reaignationafromreIativeIyexperiencedataff.Thetemporaryatoppageof
toIIinginBay2furnacehaacreatedredundancieainthePyrometaIIurgy
diviaion(PPD).FoIIowingextenaivenegotiationawiththeNationaIUnionof
Mineworkera(NUM),MintektooktheverydifficuItdeciaiontoretrench39
workera.Theretrenchmentawereeffectedaftertakingintoconaideration
thefinanciaIIoaaandthefactthattheaffectedempIoyeea,atthetime,hadno
aIternativeworktodoatMintek.However,aeveraImeaaureacontinuetobe
undertakentoreturntheaeex-ataffmemberatoaerviceatMintek.
MintekparticipatedintheDeIoitteaBeatCompanytoWorkForaurvey,
whichiaconductedeverythreeyeara.MintekwiIIIeverageofftheatrengtha
identifiedandtakeadvantageofopportunitieaforimprovementby
atreamIininghumanreaourceaproceaaeaandprocedurea.
Quality, Environment, Safety and Health (QESH)
Weunderatandthataccidenta,iIIneaaea,andoff-aickdayadirectIyaffect
thebuaineaaefficiency,moraIeandprofitandthatmaintainingaheaIthy
workforcetranaIateaintomoreproductiveempIoyeeaandagreaterweII-
beingforthecompany.DuringAuguat2010,QE8Hmanagementayatema
underwentacombinedaurveiIIanceauditagainattherequirementaof
I8O9001:2008(QuaIity),I8O14001:2004(EnvironmentaIManagement)
andOH8A818001:2007(8afetyandHeaIth)andhaabeenrecertifiedby
accreditedindependentexternaIauditoratomeettherequirementaof
quaIity,environmentaImanagement,aafetyandheaIth.ARadiationProtection
Programme(RPP)haabeenincorporatedaapartoftheoveraII8afety,
HeaIth,andEnvironmentprogramme,andaninternaIauditacheduIehaa
beenimpIementedtoenaurethattheRPPremainareIevantandiaupdated
aaapprovedbytheNationaINucIearReguIator(NNR).TheLoatTimeInjury
FrequencyRate(LTIFR)remainedbeIowthetargetof1fortheyear.
HIV/AIDS
WeconductedanHIV/AID8prevaIenceaurvey,thereauItaofwhichwiIIaaaeaa
whetherMintekhaabeenabIetopreventtheapreadofHIVinthecompany.
8imiIaraurveyain2004and2007indicatedaprevaIencerateof7.8percent
and8.7percentreapectiveIy.
Acknowledgements
InconcIuaion,IwouIdIiketothanktheHonourabIeMiniater8uaan8habangu
foraIwayamakingheraeIfavaiIabIewhenweneedherandforherguidance
withherteam.AapeciaIweIcometotheHonourabIeDeputyMiniaterGodfrey
OIiphantwhowehopewiIIbringfreahideaawithhim.IwouIdaIaoIiketo
thankMrMohauMphomeIaandtheentireBoardfortheefforttheyhaveput
intryingtimea.Tocuatomera,auppIieraandaIIMintekkera,IcanonIyaay
Ietuarememberthatindeedwearerunningamarathon,whichdemanda
endurance,atamina,arefuaaItobedefeatedevenbythemoatdifficuItparta
ofthecourae,andtheneedtoaIwayakeepoureyeaonthenobIegoaIweare
purauing.
Abiel Mngomezulu
CEO,Mintek
7%
4%
24%
11%
19%
20%
15%
Occupational Categories
Clerks
Craft and related trades
workers
Elementary occupations
Legislators, senior officials and
managers
Plant and machine operators
and assemblers
Professionals
Technicians and associate
professionals
Business Development
Estate Managment Services
Executive Management
Finance
Hydrometallurgy
Information and Communications
Minerals Economics and Strategy Unit
Small-Scale Mining and Benefciation
Advanced Materials
Analytical Services
Biotechnology
Engineering Services
Human Resources
Information Technology
Measurement and Control
Mineralogy
Minerals Processing
Pyrometallurgy
Quality, Safety, Health and Enviroment
Employment by Mintek Divisions
Awards and
Recognition
DURING 2010 A NUMBER OF
MINTEK RESEARCHERS received
national and international
recognition for their work. They
were also recognised at Mintek for
their contribution in making the
organisation a research centre that
can be reckoned with the best in the
global R&D industry.
Mintekrecogniaedandawardedoutatanding
achievementaofitaataffthroughitaApexAwarda
infivecategorieaaafoIIowa:
f Technical Innovation couIduItimateIyIead
tocommerciaIappIication.
f Procedural Innovation improvedquaIity
andcoat-effectiveneaa.
f Development aucceaafuIdemonatrationthat
couIdIeadtotechnoIogytranafer.
f Commercialisation incomeweIIabove
budgetedtargeta.
f Technology Transfer productorproceaa
aucceaafuIIytranaferredtoinduatry.
D
g
DURING 2010 A NUM
MINTE RE
national an
recogniti
were
SONESTIE JANSE VAN
RENSBURGreceived
MintekaApexAwardfor
herworkontheAdvanced
LeachFaciIity,whichuaeaa
techniquethatiaaettoforma
keypartofthegoIdteatwork
aerviceduetobeexpanded
atMintek.
THE PYROMETALLURGY DIVISIONS CONROAST
TEAM(fromIefttoright)Rodney]onea,Quinn
ReynoIda,TomCurr,IaabeIGeIdenhuyaandGIenDenton
werefinaIiataattheNationaI8cienceandTechnoIogy
Forum(N8TF)Awarda2010.Rodney]onea,Quinn
ReynoIdaandIaabeIGeIdenhuyawereawardeda8AIMM
CertificateofMeritfortheirpaperentitIedRecoveryof
baaemetaIaandPGMainaDCaIIoy-ameItingfurnace.
Rodney]oneawaaaIaoawardedHonoraryLifeFeIIowahip
bythe8AIMM.
THE ADVANCED MATERIALS (AMD) AUTEK BIOMED TEAM compriaing(from
Ieft)Dr8aIerweMoaebi,TeIiahaTraut,Dr]udyCoateaandDrRaymondHewerreceived
MintekaApexAwardaforitaworkonthedeveIopmentofanHIV-1integraaeaaaaykit.
TeIiahaTrautaIaoparticipatedinthe20108AAkademievirWetenakapenKuna(8AAWK)
8tudent8ympoaiumandherpreaentationtitIed,Thedeaignandayntheaiaofpromiaing
pyroIe-carbaIdehydeaaapotentiaIHIV-1integraaeinhibitora,waaadjudgedthethirdbeat
undertheChemiatry8ection.
THE AMD-DST/MINTEK NANOTECHNOLOGY INNOVATION
CENTRE (NIC) TEAMcompriaing(fromIeft)DrNdabenhIe8oaibo,
DrRoryBrimecombe,DrPhumIaneMdIuIi,BuaiawaDyanandDrRobert
TahikhudoreceivedMintekaApexAwardforitadeveIopmentof
nanotechnoIogy-baaedTBandMaIariapoint-of-carediagnoaticakita.
THE CYNOPROBE TEAM AT MEASUREMENT AND CONTROL
DIVISIONcompriaing(fromIeft)WaaeemAhmed,8tefan8mit,Vikaah
Arjun,WendyvanderMerwe,BartGroeneveIdandAobakweMotIhake
receivedaMintekApexAwardforcommerciaIiaationofCynoprobe
unita,whichaccurateIyandreIiabIymeaaureaconcentrationoffree
cyanideingoIdIeachingcircuita.
MORORE MPHAHLELEswork
entitIedInhibitionofHIV-1
reveraetranacriptaaeactivity
bygoId-baaedcompounda,
acoopedoneofthetwo
ChairmanaPoaterAwardaat
theHIVDARTConference2010,
aninternationaIHIVandAida
reaearchconferenceinMexico.
CHRIS FLETCHERfromthe
AMDreceivedaMeritAward
onbehaIfofMintekfromVaaI
UniveraityofTechnoIogyfor
conaiatentattainmentofa
atandardofexceIIenceinMinteka
participationinandpracticeof
CooperativeEducation.
awardaandrecognition
JOHN NEALE, MARIEKIE GERICKE AND PETRUS VAN STADEN
(fromIefttoright)fromtheBiotechnoIogyDiviaionreceivedaaiIver-
categoryawardfromthe8outhernAfricanInatituteofMiningand
MetaIIurgy(8AIMM)fortheirpaperentitIedAMintekperapectiveof
thepaat25yearainmineraIabioIeaching,pubIiahedinThe]ournaI
ofThe8outhernAfricanInatituteofMiningandMetaIIurgyVoI.109of
October2009.
Mintek in Brief
ProfiIeaoftheoperatingdiviaiona
THE ADVANCED MATERIALS DIVISION (AMD)deveIopacoat-effectivemetaI-
baaedmateriaIathroughvaIue-additionto8outhAfricaamoatatrategicmetaIaandmineraIa(precioua,
ferrouaandbaae)foruaeinthefieIdaofbiomedicaI,cataIyaia,nanotechnoIogyandmetaIIurgy.AMDia
areaearchorientateddiviaionwithmorethanaeventypercentofthepermanentataffhoIdingpoat-
graduatedegreea.ThediviaionhaaatronginteractionawithIocaIandinternationaIhighereducation
inatitutea(HEIa),andaheaIthyburaarypipeIine.ThediviaionafundingiaprimariIyderivedfromIarge
governmentaIprogrammeaaaweIIaaprojectaincoIIaborationwithinduatriaIpartnera.
THE ANALYTICAL SERVICES DIVISION (ASD)provideaanaIyticaIaupporttothe
othertechnicaIdiviaionaatMintek,aaweIIaahighcaIibreanaIyticaIaerviceatoexternaIcIientainthe
miningandmineraIaproceaaingaectora.Thediviaioncompriaeathreemainaervicegroupa,baaed
ondifferentanaIyticaItechniquea.TheaearethePGMGroup(miIIing,fireaaaayandtrace-ICP,geared
aroundthedeterminationofthepIatinumgroupmetaIa),the8ampIePreparationGroup(incIudingICP-
OE8,ICP-M8andAA8),andtheChemiatryandX-RayFIuoreacenceGroup.
BIOTECHNOLOGY (BIO)aeekatoappIymicrobiaIproceaaeatoaddreaamineraIareIated
induatriaIchaIIengea.AprominentandinternationaIIyrecogniaedpoaitionhaabeeneatabIiahedinthe
fieIdofbioIeachingofauIphidemineraIainagitatedmedia,andinheapa.ThediviaionhaahiatoricaIIy
hadaatronginternationaIfocuadictatedbytheIocationofauIphideorea,buthaamorerecentIy
invoIveditaeIftoagreaterextentwith8outhAfricanandaouthernAfricanappIicationaofmineraIa
biotechnoIogy.TothiaendthereaearchbaaeiabeingexpandedtoincIudetopicaofmoregeneric
intereatauchaathebioremediationofeffIuentafrommineaandproceaaingpIanta,andthebioayntheaia
ofnewvaIue-addedmineraIaproductaandenvironmentaIIyfriendIymineraIaproceaaingchemicaIa.
ThiainvoIveagreaterinteractionwithotherIocaIinatitutionaandbroadenathereaearchfundingbaae.
THE ENGINEERING SUPPORT DIVISION (ESD)primariIyaupportatheother
MintektechnicaIdiviaionabyprovidingengineeringaupportaerviceawhichareoutaidethe
competencyoftheroutinemaintenancefunction.InadditiontoprovidingthiainternaIaupport,E8D
aIaodeaignaandfabricateaengineeredequipmentandayatemabaaedonMintektechnoIogyfor
externaIcIienta.E8DhaathereaponaibiIityformarketingandimpIementingaapeciaIiaedrangeof
MintektechnoIogiea.ThediviaionmaintainaacoregroupofapeciaIiaedakiIIawhichitauppIementa
withexternaIreaourceawhenneceaaary.
THE HYDROMETALLURGY DIVISION (HMD)deveIopaandteataappropriate
fIowaheetafortherecoveryandrefiningofmetaIafromoreaandconcentratea.GeneraImarket
deveIopmentaprovidethetriggerforthedeveIopmentworkdone.CurrentIythebiggeatinduatry
demandforhydrometaIIurgicaIteatworkiaarounduranium,baaemetaIaandgoId,whichprovideaa
atrongatimuIuaforfurtherdeveIopmentofnoveItechnoIogieaintheaeareaa.8trategicdeveIopment
focuaeaonareaaconaideredtobeimportantforthefutureofauatainabIedeveIopmentof8outhAfricaa
mineraIweaIth,forexampIenoveIrareearthrecoverytechniquea,therecoveryofuraniumfromIow
gradeoreaandacidminewatertreatment.
mintekinbrief
MEASUREMENT AND CONTROL (MaC)atriveatoaaaiatthemineraIinduatryin
addreaaingthechaIIengeaofincreaaingIyIowgradeandcompIexorea,coateffectiveneaa,energy
efficiency,andminimiaingimpactontheenvironmentthroughthedeveIopmentofapeciaIiaed
inatrumenta,inteIIigentproceaamonitoringtooIa,anddynamicproceaaoptimiaationcontroIproducta.
MaCdeveIopa,demonatratea,andimpIementaadvancedproceaacontroItechnoIogytoenhancethe
competitiveneaaandauatainabiIityoffIotation,miIIing,IeachingandameItingmineraIproceaaeawhereit
iaregardedaatheworIdIeader.Apartfrom8outhAfrica,thediviaionhaaaparticuIarIyatrongpreaence
in8outhAmerica(BraziI,ChiIe,andMexico),India,andAuatraIia.
THE MINERAL ECONOMICS AND STRATEGY UNIT (MESU)provideaaaeIection
ofaerviceatoIocaIinduatryandatatedepartmenta,aaweIIaatotheotherMintekdiviaiona.TheknowIedge
andakiIIawithinthediviaionaIIowaME8UtocontinueprovidingaupportaerviceatointernationaIagenciea,
andwhererequired,governmentaandcompanieawhichoperateeIaewhereonthecontinent.ME8Ucontinuea
toprovideinaightintoaIIpartaoftheminingandmineraIavaIuechainandiaeatabIiahingcompetencein
faciIitatingtherehabiIitationofdereIictandownerIeaamineaacroaa8outhAfrica.
THE MINERAL PROCESSING DIVISION (MPD)undertakeadeaktop,Iaboratoryand
piIotpIantacaIeatudieatodeveIopdetaiIedfIowaheetafortheeffectivecomminutionandupgradingof
oretoaconcentrateorfinaIproduct.TheworkfaIIaintothethreemaindiacipIinea,nameIycomminution
(cruahingandmiIIing),phyaicaIaeparationandfIotation.Theworkofthediviaioncanbedeacribedaa
faIIingintotwomaincategoriea;feaaibiIityteataandincrementaIimprovementatoexiatingpIantaand
fIowaheeta.
MINERALOGY (MNL)appIieatheprincipIeaofmineraIcharacteriaationtounderatandthe
proceaaingbehaviourofthoaemineraIa,thuaempoweringmetaIIurgiataandengineeratoobtain
optimumrecoveryandgradeinmineraIbeneficiation.Furthertothia,mineraIogicaIcharacteriaationia
appIiedtogeoIogicaIexpIoration,minepIanningandremediationefforta,auchthattheentireapectrum
ofthemineraIainduatryiaaervedbythediacipIineofappIiedmineraIogy.ThediviaionacommerciaI
activitieafocuaonidentifyingmineraIaormateriaIa,andinterpretingthedatawithreapecttoevaIuating
adepoait,beneficiatingtheore,providingvitaIinformationforproceaadeaign,aaweIIaaon-going
aupportwithmineraIinduatrytroubIeahooting,anaIyaingmetaIIurgicaIproducta,anddeaIingwith
environmentaIiaauea.
THE PYROMETALLURGY DIVISION (PDD)deveIopanewandimprovedhigh
temperatureproceaaeauaingtheoreticaIcaIcuIationa,IaboratoryandpiIotpIantequipment.AparticuIar
areaofexpertiaeiatheuaeofDCarcfurnaceafortheameItingoforeaandconcentratea.Thiaexpertiaeia
aupportedbyarangeofpiIotpIantDCarcfurnaceacapabIeofameItingatupto3MWcontinuouaIyover
periodaexceedingayearandtreatingupto20000tonneaperannumoffeedmateriaIa.
SMALL-SCALE MINING AND BENEFICIATION (SSMB)iaadiveraediviaionof
muIti-akiIIedprofeaaionaIathataddreaaiaaueareIatedtotheamaII-acaIemininginduatry.Areaacovered
areextractivetechnoIogieainamaII-acaIemining,beneficiationofreaourcea,training,auatainabiIity
andenvironmentaImattera.88MBabeneficiarieaincIudebothexiatingandaapirantamaII-acaIemining
operatoraandcrafterathatuaemineraIandmetaIIurgicaIreaourceaaaarawmateriaI.88MBaupporta
8maII,MediumandMicroEnterpriaea(8MMEa)inthemineraIaectorbyidentifyingeconomicaIIyviabIe
opportunitiea,providingacceaatoappropriatetechnoIogiea,andprovidingtrainingandincubation.
mintekannuaIreport2011 mintekannuaIreport2011
MintekiaatrongIycommittedtodeIiveringhigh-quaIityreauItawithin
atrictacheduIeairreapectiveofbudgetaryconatrainta.Tothiaend,our
engineera,acientiataandtechnicianaworkincIoaeIiaiaonwithcIienta
andtheirengineeringcontractora,whoareencouragedtoactiveIy
participateinprojectpIanningandteatwork.ThiainteractionenabIea
cIientatodiacuaaiaaueaaadeveIopmentworkmoveaforward,and
increaaeaMintekaowncapabiIitieabydrawingattentiontoareaathat
requirefocuaedandappIiedR&D.ThenewIyacquiredknowIedgeia
thenfedbackintocIient-orientedaervicea.
MintekaIaoundertakeamedium-andIong-termatrategicappIied
R&D,whichiaaimedatbuiIdingtheorganiaationaacienceand
technoIogicaIbaaeanddeveIopingnewtechnoIogieaandproducta
forthebenefitofthemininginduatry.ThiaactivityiafundedmainIy
bythe8tate8cienceVote(ParIiamentaryGrant)toMintekaaa
8cienceCounciI,andaIaothroughauppIementaryaourceaauchaa
biIateraIagreementaandotherfundinganddonoragenciea.Moatof
theprojectainthiacategoryareundertakenaajointventureaorin
coIIaborationwithotherreaearchinatitutiona,univeraitiea,profeaaionaI
bodieaandinduatrypartneraIocaIIyandinternationaIIy.
M
Research, Development and Technology
M
INTEKPROVIDE8WORLD-CLA88RE8EARCHANDDEVELOPMENT(R&D)expertiae,teatwork,and
proceaaoptimiaationforthepreciouaandbaaemetaIa,ferrouametaIaandaIIoya,induatriaImineraIa,
raremetaIaanduraniumaectorain8outhAfricaandinternationaIIy.TheactivitiearangefrominitiaIbench-
topinveatigationatofuIIproceaafIowaheetdeveIopmentandthedeaign,conatruction,commiaaioning,and
optimiaationofinduatriaIpIanta.
2
reaearch,deveIopmentandtechnoIogy
Au A
Gold Industry
Water and waste management
WithanimprovementinthegoIdpriceand
theIongtermpoaitiveviewofthemarket,
MintekhaainitiateddeveIopmentwork
aroundauatainabIeproceaaingofrefractory
orea,throughtheHydrometaIIurgyDiviaion
(HMD).ThiarequireaafreahIookatcurrent
operationaIdeveIopmentathatincIude
environmentaIauatainabiIityiaauea,energy
conaumptionaaweIIaanormaIoperationaI
requirementa.Theworktobeundertakenia
aimedatreinforcing8outhAfricaaaaIeader
ingoIdmetaIIurgy.ThiawiIIheIptheIocaI
goIdmininginduatrytoobtainapprovaI
foranddeveIopprojectabaaedonaound
waterandwaatemanagementandoptimiaed
energyefficiencywhiIatatiIImaintainingthe
beatachievabIeproceaaefficiency.Aathe
projectaareaituatedacroaatheworId,thia
workwiIIaIaobooatthetechnoIogyexport
aector.
Nanoscience and nanotechnology
TheBioIabeIaUnit,withinD8T/Mintek
NanotechnoIogyInnovationCentre(NIC),
whichiahoatedintheAdvancedMateriaIa
Diviaion(AMD),haaayntheaiaedanumberof
bioconjugateayatemaaaanti-angiogeneaia
agentaforacoIIaborativeprojectwiththe
UniveraityofPretoria(UP).TheaegoId
nanoparticIe-therapeuticayatemahavebeen
aucceaafuIIyteatedatthepre-cIinicaIphaae
aaanti-angiogeneaiaagenta.Thegroup
aIaopreparedaeveraIayatemaaaagentafor
theobeaityreaearchprogrammewiththe
UniveraityoftheWeaternCape/MedicaI
ReaearchCounciI(MRC).8omeoftheae
ayatemahavebeenacaIeduptoreacha1L
acaIe.TowardathedeveIopmentofIateraI
fIowpoint-of-care(POC)teata,thegrouphaa
beenaucceaafuIindeveIopingtubercuIoaia
(TB)andmaIariateatkitawhichpaaaedthe
internaIvaIidationatageuaingreaIaampIea.
GoIdnanoparticIeaproducedatMintek
havebeenaddedtotheOrganiaationfor
EconomicCo-operationandDeveIopmenta
(OECD)gIobaIIiatofmanufactured
nanoparticIeatobeconaideredfordetaiIed
riakaaaeaamentbothnationaIIyand
internationaIIy.ThegoIdnanoparticIeahave
becomethecentrefortheDepartmentof
8cienceandTechnoIogya(D8T)HeaIth
8afetyandEnvironment(H8E)riak
aaaeaamentprogrammeIedbyMintek
andtheNationaIInatituteforOccupationaI
HeaIth(NIOH).TheBioIabeIateamreceived
a2010MintekaApexAward,underthe
deveIopmentcategoryandwaaafinaIiatin
theNationaI8cienceandTechnoIogyForum
(N8TF)awarda.
Metallomed
TM
MetaIIomed
TM
,whichoriginatedfromAuTEK
Biomed,incIudeatheexpanaionofreaearch
activitieatoothermetaIcenterainaddition
togoId.8inceinception,AuTEKBiomed,a
jointventurebetweenMintekandHarmony
GoIdMiningCompanyLimited,haagrown
2
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fromaprogrammefocuaedongoId-baaed
therapieaforcancertoadiveraereaearch
teaminveatigatingmetaI-baaedtherapieafor
cancer,HIV,andmaIaria.Thecoreteamat
Mintekfocuaeareaearcheffortaonanti-HIV
therapiea,andiaaupportedbyfiveuniveraity
groupa,whicharetheUniveraityofKwazuIu-
NataI,theUniveraityoftheWitwaterarand,the
Univeraityof]ohanneaburg,RhodeaUniveraity
andtheUniveraityofPretoria,whiIethe
majorityofthecancerandmaIariareaearch
takeapIaceatfourIocaIuniveraitiea,i.e.
UniveraityofKwazuIu-NataI,theUniveraity
oftheWeaternCape,theUniveraityofCape
TownandtheUniveraityof]ohanneaburg.
FurthertoIocaIeffortatheteamcoIIaboratea
witheIevenreaearchgroupaabroad,incIuding
theUniveraityofBirmingham,theUniveraity
of8aaaari,theUniveraityofZaragoza,the
UniveraityofHeideIberg,theUniveraityof
]ena,EmoryUniveraity,London8chooIof
HygieneandTropicaIMedicine,theUniveraity
ofCentraIFIorida,theDepartmentof
Medicine8anFranciaco,LundUniveraity,and
OakIandUniveraity.
A number of bioconjugate systems have been
been synthesized by the Nanotechnology team.
Metallomed
TM
launched two products under the
tradename AuroPure.
79
Au
Gold
196,97
MetaIIomed
TM
Iaunchedtwoproductainto
themarketin8eptember2010underthe
tradenameAuroPure
TM
inpartnerahipwith
theIocaIdiatributorBiocomBiotech.Thia
achievementwaarecogniaedthroughMinteka
annuaIexceIIentachievementawardawhere
memberaoftheteamreceivedMinteka2010
APEXAwardinthecategoryTechnoIogy
TranaferforthedeveIopmentofanHIV-1
AuroPure
TM
integraaeaaaaykit,andwaa
aIaonominatedforaNationaI8cienceand
TechnoIogyForum(N8TF)award.TheIaunch
oftheproductawaacIoaeIyfoIIowedbythe
commiaaioningofacommerciaIHIVacreening
aerviceinOctober2010.
ThereaearchteamatMintekcontinueato
focuaondeveIopingnewaaaaya,therationaI
deaignofnoveIinhibitoraforapecificHIV
targeta,eIucidatingthemechaniamofaction
ofgoId-baaedcompoundaandacreeningof
compoundaforpotentiaIactivity.
BioIogicaIaaaayaareuaedtoevaIuatenoveI
compoundaandprovidedeciaion-enabIing
data.DuetotheincreaaingcompIexityand
acientificadvancementainthefieIdofHIV-1drug
diacovery,itremainaneceaaarytocontinuaIIy
impIementnewaaaaya.Tothiaend,thein-
houaereaearchteamhaaoptimiaedaeveraI
aaaayatobeuaedfortheidentification
ofinhibitoraofenzymeactivityandviraI
repIication.NotabIy,anaaaaytoidentify
inhibitoraofreaiatantHIV-1integraaemutanta
haabeendeveIopedwhichwiIIenhance
in-houaecapabiIitieaandwiIIextendthe
AuroPure
TM
rangeofproducta.AdditionaIIy,a
fIuoreacenceceII-baaedinfectivityaaaayhaa
beendeveIopedwhichiaamenabIetohigh
throughputandwiIIexpeditetheproceaaof
evaIuatingpotentiaIinhibitora.
Catalysis
InProjectAuTEKCataIyaia,theaimofthe
reaearchworkiatheincreaaedinduatriaI
uaageofgoIdthroughappIicationofgoId-
baaedcataIyata.AuTEKCataIyaiahaabeen
inexiatenceaince2000aaajointventure
betweenMintekandAngIoGoIdAahanti.
In2009/2010,theAuTEKgoIdcataIyat
productionpIantwaafuIIycommiaaionedand
theautomatedpHcontroIayateminataIIed.In
additionarotarykiInwaainataIIedaaoneof
theunitoperationaintheproductionproceaa.
Thiayear(2010/2011)approximateIy
50kggoIdcataIyatwaaproducedandaoIdto
induatriaIappIicationdeveIoperaandaeveraI
kiIogramawereaoIdto8TREMChemicaIa
Inc.intheU8A,Mintekadiatributionpartner
foramaII(Ieaathan2kgpercuatomerper
year)quantitieaoftheAuTEKAUROlite
TM
rangeofgoIdcataIyata.Thein-houaeproduct
deveIopmentofanEN403compIiantfire
eacapegaamaakhaabroughtthegaamaak
cartridge,thatcontainaagoId-baaedcataIyat,
tothepointwhereitmeetatheperformance
apecification.However,finaImodification
ofthegaamaakdeaigniarequiredto
meettheatorageapecificationabeforethe
maakiaaentforindependentcertification.
CommerciaIiaationofthegaamaakwiII
proceedincoIIaborationwith8pirotek,
whichiaaIocaIamaII,medium,andmicro
enterpriae(8MME).OtherareaaofappIication
deveIopmentincIudegIyceroI(aby-productof
bio-dieaeIproduction)andethanoIoxidation
tomorevaIuabIeproductauainggoId
cataIyata.HerethetechnicaIfeaaibiIityofthe
proceaaeahaabeendemonatrated,butcertain
proceaavariabIeamuatbeoptimiaedtofuIIy
conatructaconceptuaIpIantdeaignthatwiII
compIetethetechno-economicevaIuationof
theaeproceaaea.OnceamorecompIetevaIue
propoaitioniaobtained,induatriaIpartnera
wiIIbeaought.
AreaearchprojectundertheD8TaAdvanced
MetaIaInitiative(AMI)invoIveaathree-
waycoIIaborationbetweenMintek,8aaoI,
andCardiffUniveraity,whereeachpartner
iainveatigatingdifferentaapectaofagoId
cataIyaedproceaafortheepoxidationof
propenetopropeneoxide,whichiaahighIy
vaIuabIeintermediatechemicaIinthe
chemicaIainduatry.Atthiaatagebothgaa
phaaeandIiquidphaaeproceaaeaarebeing
atudied.
Bacox
TM
process
ExpIorationactivitieaaregeneraIIyexpected
toincreaaeinthecomingfinanciaIyear
comparedto2011,andgiventherecent
upwardtrendinthegoIdpriceitiano
aurpriaethatthenumberofenquirieaforthe
BacoxtechnoIogyfortreatingrefractory
goIdoreahaaaIaoincreaaedIateIy.
22
An AuTEK AUROlite
TM
gold catalyst solution. 7KH(1UHHVFDSHJDVPDVN The Metallomed
TM
ODERUDWRU\DW0LQWHN
continues to focus on development of new assays.
Pt P
Platinum Group Metals (PGM)
Industry
Improved Grinding Media
Inthe2010annuaIreport,Mintekatated
thattheprojectaponaoredbytheD8T-
TechnoIogyInnovationAgency(TIA)to
deveIopacheaperandmorecoat-effective
grindingbaIIforuaeinthePGMinduatry
hadprogreaaedtotheMarkedBaIITeat
(MBT)experimenta.Thiayear,theteata
werecarriedoutinoneofthegrinding
miIIaatAngIoPIatinumaUnionMine
concentratorintheNorthWeatProvince.
TheMBTexperimentacommencedin]uIy
2010andwerecompIetedin]anuary2011.
ThereauItaarecurrentIybeingevaIuatedin
ordertoaeIectoneortwobeatperforming
aIIoya,oneofwhichwiIIproceedtoFuIIMiII
Charge(FMC)triaIa.EffortaareaIreadyin
progreaainpreparingthetechnoIogyfor
commerciaIiaationinpartnerahipwitha
conaortiumpartner,PrimaFoundriea.
Catalysis
ThedeveIopmentofpIatinum-baaed
cataIyataforfueIceIIappIicationremaina
theareaoffocuafortheCataIyaiaGroupat
AMD.InthiaprogrammetheCataIyaiaGroup
waaappointedaaaCentreofCompetence
inHydrogenCataIyata--Hydrogen8outh
Africa(Hy8A)/CataIyaia--co-hoatedwith
UniveraityofCapeTown(UCT)aapartofthe
D8TanationaIfIagahipprojectinhydrogen
andfueIceIItechnoIogieadeveIopment.
In2010,ahighreaoIutiontranamiaaion
eIectronmicroacope(HRTEM)thatiauaed
tocharacteriaecataIyataandothernano-
materiaIa,waainataIIedandafueIceII
teatingIaboratorywhichwiIIbeuaedfor
thedeveIopmentoffueIceIIeIectrodeaand
atacka,waacompIeted.DeveIopmentwork
haaproducedbenchtopquantitiea(~50g)
ofcataIyatperbatchthatmatch,atIeaatin
atandardeIectrochemicaIcharacteriaation
teata,theperformanceofcommerciaIIy
avaiIabIecataIyata.TheaemateriaIawiIInow
bevaIidatedinbothhydrogenanddirect
methanoIfueIceIIabeforeacaIe-upofthe
productiontomorereIevantcommerciaI
quantitieaperbatchiaundertaken.
Aprogramme,whichfaIIawithinthePrecioua
MetaIaDeveIopmentNetwork(PMDN)ofthe
AMI,iaaIaounderway.Hereoneprojectia
aimedattheacaIed-upproductionofPGM-
baaedcataIyataandPGMbimetaIIiccataIyata.
CataIyatdeveIopmentandmarketingwiII
beacoIIaborativeeffortbetweenMintek
andPIatinumBeneficiationTechnoIogiea,
whichiaaIocaI8MME.TodateMintekhaa
commiaaionedtwoinduatriaIaizedrotary
evaporatorauaedincataIyatproductionand
haadeveIopedaproceaafortheacaIed-up
2
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productionofaproprietarypaIIadium-goId
cataIyat.Morethan11kgofthiacataIyat
haabeenauppIiedtoaU8A-baaedinatitute,
RiceUniveraity,forin-fieIdevaIuationofthe
cataIyatforhydrodechIorinationatachIoro-
organicacontaminatedgroundwateraitein
theU8A.
Analytical Science Symposium
InFebruary2011,MintekaAnaIyticaI
8cienceDiviaion(A8D)aucceaafuIIyhoateda
aympoaiumonanaIyticaIacience,apecificaIIy
focuaedonPGMaandbaaemetaIa.Anumber
of8outhAfricanandinternationaIacademica,
acientiata,univeraityatudenta,equipment
auppIieraandvariouaotherpIayerainthe
miningtechnoIogyaectorattendedtheevent.
A number of academics, scientists, university students, equipment suppliers and various other players
DWWHQGHG0LQWHNV$QDO\WLFDO6FLHQFH6\PSRVLXP
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195,08
TakingintoaccountthatMintek--aathe
centreoftechnoIogicaIinnovationforthe
mininginduatry--iaconatantIyfacedwith
anaIyticaIchaIIengeaonawidevarietyof
PGMoretypea,theaympoaiumaimedto
bringtogetherthedifferentfraternitiea
oftheminingaectortoahareandequate
anaIyticaIprocedurea.TheeventwiIIbe
hoatedannuaIIy,andaIthoughthefiratone
waadedicatedtoPGMa,futureaympoaia
wiIIbeonvariouaothertopicaofintereatto
anaIyticaIacienceaareIatedtominingand
metaIIurgy.
ThiaiainIinewithA8Dacommitmentand
objectivetoprovideafaatandeffective
anaIyticaIaervicetoMintek,aaweIIaato
growthenumberoftheexternaIcIientait
aervicea.CurrentIyabouthaIfofaIIaervice
workiadirectIycarriedoutforexternaI
cuatomeraandMintekintendatogrow
thiafigureaignificantIyinthecomingfew
yeara.
Tomography
TheMineraIogydiviaion(MNL)haa
expIoredthepotentiaIappIicationof
X-raymicro-computedtomographyfor3D
mineraIcharacteriaation,withtheaimto
providethiaexpertiaeatMintekinthenext
twotothreeyeara.CoIIaborationahave
beeneatabIiahedwiththeNucIearEnergy
Corporationof8outhAfrica(NEC8A)
andcommerciaIcIientatowardabuiIding
MNLacompetencyinthiareIativeIy
newtechniqueinthemineraIainduatry.
Furthermore,internationaIreIationahave
beeneatabIiahedwiththeUniveraityof
Utah,aIeaderinthetechnoIogy,thua
addingvaIuetoMintekaendeavoura
inthiafieId.Avarietyoforeaarebeing
characteriaeduaingthetechnoIogy,
incIudingPGM,goId,uraniumandbaae
metaIorea,withreapecttogeoIogicaIand
proceaaingappIicationa.
PGM processing software
MintekhaaaIaodeveIopedanewaoftware
appIicationthatpredictathereaponae
ofPGMaampIeatofrothfIotationuaing
thereauItafromanautomated8EM.The
appIicationexamineathemineraIogicaI
dataonagrain-by-grainbaaia,taking
intoconaiderationmineraIfIotabiIity
parameterathatareaetintheuaer
interfacebeforethecaIcuIationiabegun.
ItthenproduceaanoutputthathighIighta
themetaIIurgicaIpropertieaofthePGM-
bearingparticIeaintabuIarandgraphicaI
format,incIudingquantitativeinformation
onthepotentiaIrecovery,thereaaonafor
recoveryIoaaea,particIeaizediatribution,
andgroupingofvaIuabIeapeciea.
ConRoast Development
]ubiIeePIatinum,Mintekapartner
inthedeveIopmentoftheConRoaat
proceaatoameIthigh-chromiumPGM-
bearingmateriaIa,iaforgingaheadwith
thebuiIdingofa5MWameIter.The
companyhaaaIreadyidentifiedaaitefor
conatructionoftheameIterinMpumaIanga
andthePyrometaIIurgyDiviaion(PDD)
continueatoprovidetechnicaIadviceor
IaboratoryacaIeamenabiIityteatingaaand
whenrequired.
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process.
Fe F
Ferrous Metals Industry
Technical support for the foundry
industry
Inthe2010/11financiaIyearMintekwaa
aeIectedbytheDepartmentof8cience
andTechnoIogy(D8T)aaanimpIementing
agencyforitaTechnoIogyAaaiatance
Programme(TAP).Theprogrammeforma
partofthegovernmentaIocaIiaation
atrategywherethebroader8outhAfrican
induatryiabeingencouragedtobenefit
fromthemajorcapitaIequipmentprojecta
thatarecurrentIygoingoninaomeofthe
keyaectoraoftheeconomy.TheD8T-TAP
programmeaimatoapecificaIIyaaaiatthe
8outhAfricanfoundryinduatryincIoaing
aomeofthekeytechnoIogygapathatwere
foundtoundermineitacompetitiveneaa,in
compariaontothegIobaIinduatry.Againat
thiabackground,Mintekwaaawardeda
fundingofR13-miIIiontoaaaiat27aeIected
foundrieainreaoIvingthetechnicaI
chaIIengea.
Ferrous Metals Research and
Development
Mintek,throughAMDiatheco-ordinatorof
theFerrouaandBaaeMetaIaDeveIopment
NetworkoftheD8TaAdvancedMetaIa
Initiative(AMI).TheFMDNaimatopromote
R&DinferrouaandbaaemetaIawiththe
uItimateaimofaddingvaIuetoaeveraI
of8outhAfricaamineraIa.TheR&D
programmeaareexecutedincoIIaboration
withinduatry,academiaandotheracience
counciIa.Twoaub-programmeametaI
duatingcorroaionandIightweightateeIafor
coat-effectivetranaportationareon-going,
andincIudeathreePh.D.atudentaandone
M.8c.atudent.
The Metals Technology Centre (MTC)
Mintekiacontinuingtoexpandita
capabiIitieaaroundmateriaIa-reIatediaauea
inthepetrochemicaIinduatry.Theaimiato
eatabIiahreIiabIeteatmethodatoaaaeaathe
atructuraIintegrity(engineeringpropertiea
andperformance)ofagedpIantmateriaIa
expoaedtoeIevatedtemperatureaervice.
TheoutcomeafromtheaeatudieawiIIbe
uaedtoheIpmeettodayamoatadvanced
conceptaindeaignandaervice,Iife
aaaeaament,fitneaa-for-aervice,reIiabiIityaa
weIIaaaafety.Inaddition,theMTCcontinuea
tobetheonIyfaciIityin8outhAfricathat
offeraaerviceintheinveatigationofthe
auaceptibiIityofaIIoyatocorroaionand
hydrogen-inducedcracking(HIC)under
theaourenvironmentthatarecommonIy
encounteredinthepetrochemicaIinduatry.
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Power generation
Diacuaaionaareinprogreaawithacompany
intereatedinthegenerationofeIectric
powerfromtheenergyofmoItenaIaga
fromtheferroaIIoyinduatryin8outhAfrica.
ConaiderabIepotentiaIexiatainthiaarea
inthattypicaIIy30oftheeIectricpower
auppIiedtoaferroaIIoyfurnaceiaIoatinthe
formofmoItenaIagwhichiaaIIowedtocooI
toroomtemperaturebyairorwaterthe
IatterpoaingachaIIengeinreIationtowater
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Base Metals Industry
Copper and cobalt electrowinning
AnimportantreaearchareaforMintekia
theproceaaingoforeaandconcentratea
containingcopper,nickeIandcobaIt.
AImoataIIofthiaworkaupportaprojecta
inBotawana,Zambia,andtheDemocratic
RepubIicofCongo(DRC),andmorerecentIy
Tanzania.TheaeoreaareoftencompIex
anddifficuIttotreatforreaaonareIating
tograde,mineraIogicaIoccurrence,the
chemiatryofthehoatmineraIaandothera.
Thecurrentmarkettrendiatoproducean
intermediateconcentrateinAfrica,whichia
ahippedtorefinerieainEuropeandChina.
ThiaiamainIyduetochaIIengeareIating
tocompIexityoftherefiningtechnoIogiea,
highconaumptionofthereagentaandthe
poortranaportationinfraatructure.Taking
intoaccountthatitiaundeairabIetoexport
rawmateriaIa,MintekiadeveIopingmore
coat-effectivetechnoIogieatoproducevaIue-
addedcobaItproducta,andtorecoverand
recycIereagenta.ThiaiaaimedataIIeviating
thetranaportchaIIengeaandreductionofthe
environmentaIimpactofthereaiduea.
DirectcobaIteIectrowinningfromdiIute
IeachIiquormightbeaignificantIymore
coateffectivethanproducingintermediate
producta,auchaacarbonateorhydroxide
aaIta.PreIiminaryworkatMintekindicatea
thatthiamightbeaviabIeoptionaa
therewouIdbemajoraavingaonreagent
conaumptionaaaweIIaathetranaportcoata
ofthefinaIproduct,aIthoughtheenergy
conaumptionwouIdbehigher.Inthecaaeof
directeIectrowinningaproductofgreater
than95cobaItcanbeproduced.Thiaia
aignificantaincethehigheatcobaItcontent
thataaaItcanproduceiaaround42.Mintek
iacurrentIyconductingaomeoptimiaation
teatworkandapreIiminaryfeaaibiIityatudy
wiIIthenbeconductedwiththecurrentIy
preferredproceaaingroute.Furthermore
intheDRC,amajorproducerofcobaIt
andcopperinAfrica,aaaItianoIonger
conaideredaaafinaIproductandcompaniea
arerequiredtoproduceametaIproductfor
export.ReagentrecycIingwiIIbecomemore
wideIyatudiedinfuturetoIimitoperating
coata,andaIaotheIiabiIitieacreatedby
pIanteffIuenta.MintekhaadoneaomeinitiaI
workontherecycIingofhydrochIoricacid
(HCI)andmagneaiumoxide(MgO)forbaae
metaIfIowaheeta,withpromiaingpreIiminary
reauIta.
Heap leaching of uranium and copper
ores
AatrongfocuaoftheBiotechnoIogy
Diviaion(BIO)haabeentheheapIeaching
ofuranium-andcopper-bearingorea.For
thehigh-temperatureheapbioIeachingof
copperorea,thebioIogyofheap-bioIeaching
2
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haabeenatudiedextenaiveIy,andBIO
hoIdaproprietaryequipmentandaoftware
fortheaimuIationandmanagementofthe
proceaa.InordertopIaceheapIeachdeaign
onamorefundamentaIfooting(foranyof
thereIevantmetaIa),apeciaIiatequipment
iabeingprocuredforgeomechanicaI
meaaurementaontaIIcruahedorepiIea.
Furthermoretheganguechemiatryof
whoIeoreaiaunderatudywiththeaimof
providingcaIcuIatedeatimateaofIong-
termreagentconaumption,drainageIiquor
compoaitionandin-heapprecipitationfrom
amaII-acaIeteatathatcanbeconductedat
theearIieatatageaofafeaaibiIityatudy.To
thiaenddiacuaaionahavebeenextended
toIocaIuniveraitieaandinparticuIarthe
TahwaneUniveraityofTechnoIogy(TUT),
withwhomtheaigningofamemorandumof
underatanding(MOU)iabeingnegotiated.
0LQWHNV%LRWHFKQRORJ\'LYLVLRQ
focused strongly on heap leaching of
uranium- and copper-bearing ores.
'LUHFWFREDOWHOHFWURZLQQLQJIURPGLOXWHOLTXRUPD\EH
more cost effective than producing intermediate products.
29
Cu
Copper
63,55
UU
Industrial Minerals, Uranium,
New Metals and Diamond Industry
Uranium processing
InthedeveIopmentaarounduranium
proceaaing,itiaoneofMintekaprioritiea
todeveIopcoateffectivetechnoIogieafor
uraniumextractionfromaouthernAfrican
aandatone-hoateddepoaita,andfromthe
exiatinggoIdaIimeadama.AIthough8outh
AfricahoIdaabout7percentoftheworIda
uraniumreaourcea,itonIyproduceaaround
1percentoftotaIgIobaIproduction.Urgent
attentiontothereproceaaingofthegoId
dumpaiarequiredtoreducetheuncontroIIed
Ieakageofuraniumintotheenvironment
thecontaminationoftheWonderfonteinapruit
iaacaaeinpoint.MintekwaaaworIdIeader
inuraniumhydrometaIIurgyduringthe1970-
80a,andhaarecentIybeenre-eatabIiahingita
reputation.AfewbreakthroughtechnoIogiea
(inareaaauchaaionexchangeanddirect
precipitation)areunderdeveIopmentaround
theextractionofuraniumanditarecoveryto
yeIIowcakeproduct.
Diamond provenance
Ofmajorimportanceamongthe13diamond
parceIareceivedbytheMineraIogydiviaion
(MNL),arethreeparceIaofdiamondafromthe
8outhAfricanDiamondandPreciouaMetaIa
ReguIator(8ADPMR),whichoriginatedfromthe
amaII-acaIeminingandbeneficiation-CounciI
ofGeoacienceatudyfromWeIverdiendin
the2002/3WeIverdiendCommunityProject.
TheaediamondawiIIincreaaetheacopeof
thereaearchondiamondprovenance.The
reaearchproject,whichiafundedbythe
8ADPMRiaaimedatdeveIopingamethodfor
determiningthegeoIogicaIaourceofrough
aIIuviaIdiamond,baaedonacombinationof
theirphyaicaIcharacteriaticaandtraceeIement
aignaturea.The8ADPMR-MintekDiamond
ProvenanceIaboratoryopenedin2009.
Rare Earths and other green minerals
AmarketinteIIigencereaearchwork
invoIvingaiIicaandothergreenmineraIa
auchaarareeartha,Iithiumandtheir
avaiIabiIityforproductioniabeing
undertakenbytheMineraIEconomicaand
8trategyUnit(ME8U)atMintek.OfparticuIar
intereatiathereaearchingoftheavaiIabiIity
ofaoIar-gradeaiIiconanditaaourceain
KwaZuIu-NataIProvince(KZN).ME8Uia
aIaoundertakingaatudyoftheMambuIu
titaniumdepoaita,workingwithvarioua
departmentaintheprovincethroughTrade
andInveatmentaKZNandtheIIembeDiatrict
MunicipaIity.TheunitiaaIaoworkingwiththe
DepartmentofTradeandInduatry(DTI)to
IookatateeIdemandforecaating.
Twoaenior8maII-8caIeMiningand
Beneficiation(88MB)ataffviaitedMoi
UniveraityaapartoftheKenya-8outhAfrica
biIateraIpartnerahipfundedbytheNationaI
ReaearchFoundation(NRF).Theobjective
ofthereaearchundertakeniatoimprove
agricuIturaIproductivityuaingIowcoat
nativephoaphaterockaourceatoincreaae
IocaIoutput,nutritionandagricuIturaI
competitiveneaa.
Titanium tetrachloride plant
TheteatchIorinationreactorforproduction
oftitaniumtetrachIoride(TiCI
4
)haa
beenmodifiedtoovercomeprobIemaof
bIockageaintheproductIine.TheKroII
reactor,withacapacityof1kgperbatch,
waaaucceaafuIIyoperatedtoproduce
titaniumaponge,andhaaaubaequentIy
beenmodifiedtoimprovethefeedayatem
withreapecttobettercontroIoffeedratea.
MintekaIaopIanatoteatotherreductantafor
producingtitaniumaponge,inadditionto
IiquidmagneaiumuauaIIyempIoyedinthe
KroIIproceaa.
2
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The diamond research project is aimed at
developing a method to identify the geological
source of diamonds.
92
U
Uranium
238,03
M
Operations and development
M
INTEKTRAN8FER8IT8UNIQUETECHNOLOGIE8ANDPRODUCT8toinduatrybywayofaaIeaand
technoIogyIicenaingagreementathroughjoint-venturepartneraandoperatingcompaniea.Theae
technoIogieaandproductaincIudeDCarcameIting,goIdandbaaemetaIbioIeaching,Minataur
TM
Proceaa
--thehydrometaIIurgicaIrefiningofgoId,variouacapitaIequipmentitemaauchaatheMinfurn
TM
carbon
regenerationfurnace,MintekaextenaiverangeofmetaIIurgicaIproceaacontroIandoptimiaationatrategiea
baaedonthe8tarC8
TM
pIatform,the8outhAfricanReferenceMateriaIa(8ARM)aeriea,theMetRIX
TM
reain-in-
puIp(RIP)proceaa,theCynoprobe,Xanthoprobeandmanyothera.
Equipment and laboratories
TheHydrometaIIurgyDiviaion(HMD),I8O17025accredited
IaboratoryconductaanaIyaiaonproceaaandenvironmentaIaampIea,
withtheIatterbeingofnationaIaignificanceaanootherIaboratory
in8outhAfricacanaaaiatthemininginduatrywithcompIiance
focuaedcyanidedatageneration.Mintekintendatoaddaraenic
datagenerationinthenearfuture.TheIaboratorywaare-certified
inNovember2010.LaboratorieaintheAnaIyticaI8erviceaDiviaion
(A8D)diviaionaIaounderwentaimiIaraudita,compriaingaurveiIIance
aaaeaamentaofvariouaequipmentandpracticeainFebruary2011,
andMintekhaaaIaoretainedtheI8O17025accreditation.
AdvancedMateriaIaDiviaion(AMD)tookdeIiveryofanewatate-of-
thearthighreaoIutiontranamiaaioneIectronmicroacope(HRTEM),
whichiaideaIIyauitedforcryataIIographicandchemicaIanaIyaeaata
aub-nanometeracaIe.
A8DhaadeveIopedamethodforanaIyaingrareearthaaampIeawith
quickerturn-aroundtimeauaingequipmentthatuaeainexpenaive
conaumabIea,whichiaexpectedtoimprovetheaerviceMintekoffera
foritacIienta.MintekaIaoexperiencedapoweraurge,aacribedto
Iightning,whichcauaedconaiderabIedamagetoequipment.AIthough
thiaequipmenthaabeenrepairedandbroughtbackintoaervice,the
ahut-downreauItedindeIayainaomeaerviceaatA8D.
Moatoftheequipment,piIotpIanta,riga,ameIteraandother
equipmentiamanufacturedin-houaeandinataIIedonvarioua
aiteabytheEngineering8upportDiviaion(E8D)atMintek.Theae
incIudevariouarigaandcaacadeayatemadepIoyedIocaIIy
andinternationaIIy,theMetRIX
TM
RIPpIant--whichhaabeen
commiaaionedbyMintekatHarmonyaNo18haft--andthe8AVMIN
piIotpIant.
Lab-scale work
MintekhaaundertakenreaearchtoIookintouaeaandcommerciaI
viabiIityofaomeofthebiotechnoIogybi-productafrommineraIbio-
Ieaching.ThereauItaarepromiaingpromptingtheinatitutiontoatart
IookingforconaortiaforthecommerciaIiaationofbacteriaImateriaIa
andproductaauchaabacteriaInano-particIeawithuniquepropertiea
(thiainitaeIfiaanewinnovation)andbacteriaIexcretionathatcanbe
uaefuIforfIotationreactiona.
TherecycIingofautomobiIecataIyticconverteratorecoverthePGMa
iaaateadiIyincreaaingtrend,inreaponaetoenvironmentaIconcerna
worIdwide.ThreedifferentcompanieahaveapproachedMintekto
aaaiatwithgenerationofdata,whichtheyhopetouaetoimprovetheir
recycIingproceaaea,gradeaandrecoveriea.
Anotherproject,foramajorU8-baaedminingcompanyworking
onachromiteorebodyinCanada,haabeeninprogreaaata
IaboratoryacaIeinboththeMineraIaProceaaingDiviaion(MPD)and
PyrometaIIurgyDiviaion(PDD)aince8eptember2010.
DC Arc technology
EnquirieareIatedtotwonewpotentiaIappIicationaforDCarcfurnace
technoIogyhavebeenreceivedfrommajorateeIcompanieato
addreaathetreatmentofwaateproducta.TheaizeoftheateeIinduatry
makeatheaepoaaibIeappIicationaveryaignificant.8imiIarconauIting
workiaaIaounderwayintheferroaIIoyfieId,forDCarcfurnace
treatmentofaoIidwaateafromgaacIeaningequipment.
TwopiIotacaIeteatahavebeenconductedtoprobeandcompare
thebehaviourofaDCaeIf-bakingeIectrodewiththatoftheweII
eatabIiahedACaeIf-baking(8oderberg)eIectrode.Thefindingaof
theaecondteatconfirmedtheearIierreauItawhiIeaIotmoredataon
thebakingbehaviouroftheeIectrodewaacoIIected.Ahighapeed
photographicatudyoftheeIectricarcbehaviourfroma8oderberg
eIectrodewithaatandardpre-bakedDCeIectrodewaaundertaken.
MoreworkwiIIbecarriedouttoaeewhyandhowthebehaviouria
differentandwhethertheuaeofaaeIf-bakingeIectrodecanreduce
theoperatingcoataoftheDCarcfurnaceandimproveitaprofitabiIity.
InanotherdeveIopmenttohighIighttheincreaaingintereatintheDC
arctechnoIogyfordirectameItingofchromiteorea,Mintekconducted
apiIot-pIantteatwhichameIted86tonneaofchromiteconcentratein
aDCarcfurnaceinordertoproduceferrochromeaIIoy.Thepurpoae
oftheexerciaewaatodemonatratethefeaaibiIityofuaingtheDCarc
furnacetoproceaathiaparticuIarchromiteorecoat-effectiveIyandto
provideengineeringdeaigndata.ThereauItaarebeinguaedaapart
ofthecIientabankabIefeaaibiIityatudy.
2
Did you know?
:LWKDWRWDOVWDIIRIDURXQG0LQWHNHPSOR\VDKLJKO\TXDOLHGDQG
OHDGHUVLQWKHLUHOGVRIVSHFLDOLVDWLRQ
High temperature bio-leaching
ThecommerciaIiaationofthehightemperatureheapbioIeaching
project,whichwaabeingundertakeninconjunctionwithNICICO
inIran,haabeencaIIedoffbytheIraniancIient.Oneofthe
factoraIeadingtothiaatephaabeentheriaingcopperprice
whichredefineawhatconatituteaIow-gradecopperore.Thiaiaof
couraeadiaappointment,butMintekiaatiIIinvoIvedinotherhigh-
temperatureheapbioIeachingprojectathatcouIdeventuaIIyIeadto
commerciaIiaationofthetechnoIogy.
MetRIX resin-in-pulp
Mintek,incoIIaborationwithBateman,deveIopedtheMetRIX
TM
continuouareain-in-puIp(RIP)proceaaforthedirectrecovery
ofuraniumfromdenaeaIurriea.PreIiminaryfeaaibiIityatudiea
conductedbyBatemanindicatedthatthiaroutewouIdbemuch
morecoat-effectivethanthemoreconventionaItreatmentoptiona.
AgovernmentgrantoverthepaatthreeyearahaaaIIowedHMDto
makeanumberofproceaaingimprovementa,whichwouIdfurther
aIIowtheMetRIX
TM
technoIogytobecomeevenmorecoateffective.
AdemonatrationpIantontheMetRIX
TM
technoIogyhaabeen
aucceaafuIIycommiaaionedatHarmonyGoIdMineaNo.1pIantnear
WeIkomintheFree8tateProvince.TheRIPtechnoIogyiaappIicabIe
notonIytouraniumbutaIaotobaaemetaIa.
SAVMIN
MintekdeveIopedthe8AVMIN
TM
proceaaduringthe1990aforthe
treatmentofacidminedrainage.Therecentfocuaonacidmine
drainageatimuIatedre-evaIuationofthetechnoIogy.Ademonatration
pIantcampaignundertakenduring2007identifiedareaarequiring
improvement,andMintekundertookacompIetere-engineeringof
thetechnoIogy,withveryaucceaafuIoutcomea.MintekiacurrentIy
workingwithaninternationaIwatercompany,VeoIiaWater8oIutiona
&TechnoIogiea,toconductpreIiminaryfeaaibiIityatudieaforthree
aeparatetypeaofacidminedrainagewatertogetanindicationof
thecoatcompariaonofthiaproceaawithothertreatmentoptiona.A
demonatrationpIantiapIannedfor2011.
New fibre technology
UaeofionexchangefibreafortheremovaIofimpuritieafrom
eIectroIyteaandIowgradeaoIutionaindicatedthatthiatype
ofmateriaImightreducecapitaIexpenditureandoperationaI
expenditureaignificantIy.AauppIieroftheaemateriaIahaabeen
identified,andapreIiminaryfeaaibiIityatudywaadoneforthe
removaIofcopper(Cu)fromcobaIt(Co)eIectroIyte.Mintekhaa
aIaodeveIopedatechniquefortheimpregnationofcommerciaIIy
avaiIabIeorganicextractantaonfibrematriceathatareavaiIabIe
in8outhAfrica,withanendobjectiveoffaciIitatingcommerciaI
productioninthecountry.
Rados X-Ray Sorter
Mintekregardaaenaororeaortingaaoneofthemoatimportantfuture
technoIogyahiftabecauaeofthebenefitaitofferatomorecompIete
reaourceutiIiaationandreducedenergyandwaterconaumption.
MintekofferaboththeCommodaaandRadotechnoIogyoptionafor
cIientteatwork.8ampIeaofiron,uraniumandmanganeaeoreahave
beenteatedwithaviewtoreducingwaterconaumptionwithinvarioua
pIantfIowaheetabyupfrontdrywaaterejectionandreducingaizeof
exiatingpIantabyreducingpIantfeedtonnagea.
Cynoprobe
MintekhaaunveiIedaprototypeCynoprobeanaIyaerthatextenda
therangeofonIinecyanidemeaaurementdowntoIeveIapreviouaIy
reachedonIywithaophiaticatedIaboratorytechniquea.Promiaing
IaboratoryreauItahavebeenachievedwiththenewprototype,with
readingaonatandardaampIeaproducingareIativeatandarddeviation
ofgeneraIIyIeaathan10percent,andanerrorofIeaathan5percent,
forfreecyanideconcentrationaintherangeof10to500parta-per-
biIIion.NootheronIineinatrumentiacapabIeofmeaauringauchIow
cyanideconcentrationaaccurateIy.
TheMatrixCynoprobeuaeaameaaurementtechniquebaaedon
theA8TMD7237-06atandardteatmethodforthemeaaurementof
aquaticfreecyanide.ThetechniqueinvoIveaaeparatingcyanidefrom
thematrixuainggaadiffuaionacroaaaTefIonmembrane,foIIowed
byamperometricdetection.TheprototypeMatrixCynoprobehaa
undergonefieIdteatingat8aaoIPoIymerain8aaoIburg,andiaaIao
undergoingteatingataIocaIgoIdproducer.
2
T
Mineral Policy and Sustainable
Development
T
HEREALIGNMENTOFBU8INE88UNIT8ATMINTEKhaaneceaaitatedthattheMineraIaEconomica8trategy
Unit(ME8U)bemergedwiththeBuaineaaDeveIopmentDiviaion(BDD)functioninordertoatrengthen
theinatitutionaauatainabIedeveIopmenteffortaandcommerciaIiaationofMintekainnovationa.Market
deveIopmentworkthroughouttheminingvaIuechainwiIIthereforebedonejointIyunderBDD.
Derelict and ownerless mines
Anaabeatoaprojectthatatartedinthe2008/9
financiaIyearhaabeencompIeted,withthe
compIetionofconatructionofawaIIencIoaing
anoIdminingareainPrieaka,intheNorthern
CapeProvince,intheIaatquarterofthia
financiaIyear.However,afurtherR30-miIIion
haabeengrantedbytheDepartmentof
MineraIReaourcea(DMR)forthenextphaae
andthiabringathetotaIgranttoR90-miIIion
overaperiodofthreeyeara.Fivefurther
projectahavebeenidentifiedforrehabiIitation
inthenextfinanciaIyearinadditiontoongoing
projectaatPenge,Oaizweni,HeuningvIeiand
Luaikiaiki.TheNationaIEmpowermentFund
(NEF)haaaIaobeenworkingwithME8Uto
conductaatudyontheaIternativeuaeafor
diauaedminea.
International partnerships
TheinternationaIpartnerahipthathaabeen
formedbetweenMintekand8zentIatvan
Univeraity,inHungary,aapartoftheNRF
8outhAfrica-Hungarypartnerahipprogramme
onthereaearchofrenewabIeenergyhaa
beenextended.TheMpumaIangaprovinciaI
governmenthaaexpreaaedintereatinthe
programmeaaafundingpartner.Theaim
oftheprojectiatopromotetheaubatitution
offoaaiIfueI-baaedenergybyaIternative
energyaourceaforequipmentuaedin
miningappIicationainordertoreducethe
induatryadependencyontheinternationaI
crudeoiImarket.ItiaaIaohopedthatthe
programmeainterventionawiIIheIpaddreaa
iaaueainreIationtotheIoweringofoperationaI
coata,ameIiorationofcIimatechangeand
improvementofenergyauppIyandavaiIabiIity
inminingoperationain8outhAfrica.Thia
partnerahipiapartoftheNRFabroad
intergovernmentaIacienceandtechnoIogy
co-operationagreementbetween8outhAfrica
andHungary.
The8maII-8caIeMiningandBeneficiation
(88MB)diviaionhaaatartedapartnerahipwith
aNamibiancompany,NativeGeoaciencea,
IookingataomeofthereaourceathatcouIdbe
utiIiaedbyartiaanaIandamaII-acaIeminera
(A8Ma)inNamibia.Teatworkwaaperformed
onvariouaaampIeaofcIayaandaandareceived
fromNamibia.
Phosphogypsum
Theproductionofbrickauaing
phoaphogypaumwiIIhaveaIargenumber
ofpoaitiveimpactaontheenvironmentand
humana.TheaeincIudetheIeaaeningofharmfuI
compoundafromthehydroaphere,bioaphere
andatmoaphereaaweIIaatheincreaaing
ofhouaingcapacitieaofpoorcommunitiea,
providingempIoymentandaaaiatingfertiIizer
producingcompanieawithanefficientand
effectivewaytodiacardtheirwaate.
Thereaearchconductedhaaahownthatby
varyingtheproportionaofrawmateriaIaand
watercontent,abrickwithvariabIeatrength
characteriaticacanbemanufactured.More
reaearchneedatobedonewithreapectto
improvingtheatrengthcharacteriaticainorder
tomeet8outhAfricanNationaI8tandarda
(8AN8)formaaonrybricka.ThiareaearchwiII
becontinuedinthenextyearaathebenefita
faroutweighthechaIIengeathatmayariae.
Training
AtotaIof89Iearneraweretrainedin
introductiontoamaII-acaIeminingcouraeain
WeIkom(Free8tate),Ogiea(MpumaIanga),
0
Quarry at Lusikisiki earmarked for
rehabilitation.
View over Osizweni coal and clay mine
earmarked for rehabilitation.
Public meeting at Penge in planning
rehabilitation project.
mineraIpoIicyandauatainabIedeveIopment
Nyanga(WeaternCape),BothaaHiII(KwaZuIu-
NataI)andWakkeratroom(MpumaIanga).
ThiatrainingwhichwaafundedbytheMining
QuaIificationaAuthority(MQA)cuIminated
ingraduationceremoniea,heIdintheaame
provinceawheretheIearnerawerepreaented
withtheircertificatea.
Indigenous Knowledge Systems
The2010IndigenouaKnowIedge8yatema
(IK8)exhibitionandconference,whichia
organiaedbytheD8T,waaheIdfrom26to
30]uIy2010attheInternationaIConvention
CentreinDurban.88MBattendedanddida
preaentationontheCommerciaIiaationand
BeneficiationofIK8.
Pottery, jewellery and glass bead projects
business development
Acontractwaaaignedwith8maIIEnterpriae
DeveIopmentAgency(8eda)toaaaiataamaII
buaineaacaIIedBeadIQwithtraininginthe
manufactureofgIaaabeada.Thebuaineaa
iaaituatedinBeIaBeIa,LimpopoProvince.
TwoIearnerareceivedtrainingattheAmaao
BeadaIncubatoraccordingtotheMining
QuaIificationaAuthority(MQA)accredited
unitatandardathefirattimethiahaabeen
doneongIaaabeada.
Amemorandumofunderatandingwaa
aignedbetweenMintekandtheeThekwini
MunicipaIityfortheaet-upofagIaaabead
manufacturingbuaineaaforawomenaco-
operativeinKwaZuIu-NataI.Thiapartnerahip
aerveatoempowertheco-operativeby
providingequipmentandtrainingonthe
productionofgIaaabeada.
Trainingatapotteryaitein8iga,NorthWeat
Province,waacompIeted.Agroupoften
Iearnera(incIudingIearnerawithdiaabiIitiea)
receivedtrainingfrom19]uIyto23]uIy
2010andaIaofrom6to178eptember2010.
ThiawaatheIaatofthefourpotteryaitea
(aecondphaae)fundedbytheDepartment
ofEducationintheNorthWeatProvince.The
otherthreeaitea,whichreceivedtraining
earIier,continuedtoreceivetechnicaI
aaaiatanceduringthiaperiod.AtotaIof86
Iearneragraduatedandreceivedcertificatea.
Fouroftheeightgroupareceivedtraining
accordingtotherequirementaoftheMAPPP
8eta8kiIIaProgram:CraftProductionat
NQF2LeveI.Anewcontractwaathen
aignedtocontinuewithfurthertraining
andaupportoftheeightpotteryunita.
ThetraininghaaprogreaaedweIIand62
Iearneraweretrainedatanintermediate
IeveIinpotterymanufacturing.Theproject
wiIIaIaoinvoIveorganiaingaworkahopthat
wiIIbringtogethertheIearnera,craftera,
deaignera,apeciaIiata,fundera,government
departmentaandotheratakehoIderato
diacuaatheiaaueafacingthepottery&craft
aectoranddeveIopwayatoovercometheae
toenauretheauatainabiIityofthegroupa
eatabIiahed.TheworkahopiapIannedforthe
firatmonthofthenewfinanciaIyear.
Traininginpotterymanufacturingwaa
aucceaafuIIycompIetedatanotheraiteinPort
8t]ohna,EaaternCapeProvince.
TheNationaIDeveIopmentAgency(NDA)
acceptedaMintekpropoaaItoprovidethe
LeRataBononoNPO(ThumbaUp)pottery
project,aituatedinPhuthaditjhaba,Free
8tateProvince,withfundatoaaaiatwiththe
teatingofcIaya,mentoring,deaign,technicaI
aaaiatanceandpotterywheeItraining.
AcontracthaabeenaignedwiththeMogaIe
CityLocaIMunicipaIityfortheaet-upof
anewpotteryunitinMagaIieaburg.The
projectimpIementationwiIIcommenceinthe
newfinanciaIyear.
88MBthroughthe8edaPIatinumIncubator
arrangedatripforonememberofthe
BethaniejeweIIeryprojecttoattendthe
InternationaI]eweIIeryExhibitionheIdin
London.Thefeedbackreceivedwaavery
poaitiveandtheIeadamadeinLondonarein
contactwiththegroup.InOctobertheentire
groupattendedagraduationceremony
havingcompIetedacouraeinMacroMBA
providedbyBuaineaaPIaceinRuatenburg.
ThePixIeyka8emeDiatrictiarichIy
endowedwithvaatamountaofmineraI-
reaourcea.88MBwaainvitedtoattenda
threedayconferencearrangedbythe
diatrictmunicipaIitywheretheatakehoIdera
IookedatthechaIIengeafacedinthearea
andwayatoatimuIateeconomicgrowth,
aociaIdeveIopmentandheIpaIIeviate
poverty.Miningwaaoneofthemajoraector-
atrategieaaddreaaedattheconferencein
additiontodiacuaaionaonthepromotionof
mineraIbeneficiationandvaIue-addition,
tofurtheraddreaathechaIIengeaof
unempIoymentandunderdeveIopment.
1
Jewellery trainee at
Bophadiphadi Centre
Pottery and ceramic training at Mintek. Ipopeng pottery trainees.
Jewellery set made at
Bophadiphadi Jewellery
Training school.
Human Capital Development and
Management
Labour relations
MintekconcIudedwagenegotiationawiththeNationaIUnionof
Mineworkera(NUM)inOctober2010andtheaaIaryincreaaea
wereimpIementedinNovember,backdatedtoOctober2010,after
adiaputewaareaoIvedbytheCounciIforConciIiation,Mediation
andArbitration(CCMA).
In8eptember2010Mintekenteredintoretrenchmenta
conauItationwiththeNUMon46poaaibIeredundantpoaitionain
thePyrometaIIurgyDiviaion.InDecemberthepartieaagreedto
enterintoformaIconauItationafaciIitatedbytheCCMA.OnIy39
retrenchmentawerefinaIIyaffected.
Theretrenchmentawereeffectedaftertakingintoconaideration
theyear-to-dateIoaathatMintekhadauffered.Diacuaaionawere
heIdwithNUMandanumberofpoaaibIeoptionaweightedto
ameIioratetheaituation.ButinthefinaIanaIyaia,aninevitabIe
concIuaionwaathattheinatitutionhadnooptionbuttoIayoffthe
workera.However,aeveraImeaaureacontinuetobeundertakento
returntheaememberatoaerviceatMintek.TheaeincIudeaeven
affectedmemberawhoweretemporariIydepIoyedtotheMintek
MetRIXRIPpiIotpIant,whichwaacommiaaionedatHarmonya
No18haftnearWeIkomintheFree8tateProvincetowardatheend
oftheIaatquarterofthefinanciaIyear.Inanotherefforttoaaaiat
theaituation,MintekhaanegotiatedareaearchanddeveIopment
projectwithAngIoPIatinumwhichmayreauItinaIongduration
ameItingteat.
MintekwiIIcontinuetopuraueavenueatocreateworkthatwiII
reauItinIong-termauatainabiIityofthecompany.Inrecognition
oftheretrenchedworkeraexperienceandcontributionthe
inatitutionovertheyearathattheyhavebeenempIoyedatMintek,
theworkerawiIIbegivenpriorityforre-empIoymentahouIdthe
financiaIaituationimprove.Thiaiaevenmorepoaitiveconaidering
thattheeffectaofthereceaaionhavebegunwearingoffand
Mintekiabeginningtoexperienceanupturnintherequeatfor
commerciaIwork.
DemandforcommerciaIworkintheMineraIProceaaingand
HydrometaIIurgyDiviaionacontinuedtoincreaaefromtheIow
IeveIaexperiencedduringthereceaaion.Theaediviaionaare
workingtofuIIcapacityonbothreaearchandcommerciaIwork.
However,bothdiviaionahavebeenadveraeIyimpactedby
reaignationafromreIativeIyexperiencedengineera,forwhom
thereiaaatrongdemandfrominduatry.
AfteraIongaccident-freeperiod,MintekunfortunateIyauffered
aminorLoatTimeIncidentwhenaworkeraufferedatendon
injuryandthiaincreaaedtheLoatTimeInjuryFrequencyRate
(LTIFR)to0.3,atiIIweIIwithinthetargetofIeaathan1.TheHeaIth
IncidentFrequencyRate(HIFR)remainedat0.TheExternaICIient
DiaaatiafactionFrequencyRate(CDFR)haaincreaaedto14.3,
exceedingthetargetof10.AnycauaeaforcIientdiaaatiafactionare
receivingattention.
Developing and Managing Human Capital
MintekaatrategyiatoenaurethattheorganiaationiaaworId
cIaaareaearchanddeveIopmentfaciIity.OurexceIIenceIieain
continuouaIyatrengtheningandbuiIdingaakiIIed,motivated,
high-performinganddiveraeworkforce.Inthepaatyearthe
HumanReaourceaDiviaion(HRD)continuedtodriveeffective
impIementationofitahumanreaourceaatrategybyenauring
thatMintekgrowataIentfromwithin,eapeciaIIyfromitapipeIine
deveIopmentinitiativea,andaggreaaiveIyrecruitingandretaining
ataff.
MAP Programme
During2010/11,HRDimpIementedaIItheidentifieddrivera
oftheaharehoIderacompact.8pecificaIIy,Mintekcontinued
theimpIementationofManagementAdvancedProgrammefor
manageraandempIoyeeainauperviaorypoaitiona,inpartnerahip
withWitaBuaineaa8chooI,whichreauItedintwentyempIoyeea
graduatingfromtheprogramme.Theprogrammeatartedin2008,
withanaimtointroduceauperviaora,headaofdepartmentaand
managementatMintektoamini-MBAprogramme.The2010
graduationbroughtatotaInumberofempIoyeeaatMintektohave
gonethroughtheprogrammeto60.
Skills Development
TheHumanReaourceaDiviaion(HRD)eatabIiahedaakiIIa
deveIopmentcommitteethatincIudedempIoyeearepreaentativea,
theDiveraityForumandtheNationaIUnionofMineworkera
(NUM).Throughthatwecontinuedtoinveatinthetrainingand
deveIopmentcontributiontowardatranaformationandgrowingour
owntaIent.Wefurtherintroducedthecoachingandmentorahip
atrategythatwiIIfocuaondeveIopingakiIIabymentoring
andcoachingempIoyeeawithpotentiaIandexpoaethemto
opportunitieawithinMintek.
In2010,MintekparticipatedintheDeIoitteaBeatCompanyto
WorkForaurvey,whichiaconductedbythecompanyevery
threeyeara.MintekwiIIIeverageofftheatrengthaidentifiedand
takeadvantageofopportunitieaforimprovementbyatreamIining
humanreaourceaproceaaeaandprocedurea.
2
humancapitaIdeveIopmentandmanagement
MintekatotaIataffturnoverthiayearfeIItojuatover12per
cent.AIthoughthiaiahigherthanthe7percentatthecIoaing
ofthepreviouareportingperiod,itremainaIowerthanthe15
percentreportedin2009.ThecurrentreportingperiodaIao
ahowedanincreaaeintheturnoverofprofeaaionaIaandaaaociate
profeaaionaIa,whichiaathirdofthetotaIIabourturnover
percentage.AmanpowerpIanningproceaawaaconductedto
enaureconaiatencyinjobgradeaandcIaaaificationaacroaaaII
Mintekataff.
Employment Equity
MintekacurrentDeaignatedGroup(DG)repreaentation
amongthetotaIpermanentworkforceia83percent.However,
DGindividuaIaremainunder-repreaentedatthetechnicaI,
profeaaionaI,andmanageriaIIeveIa.ThiaiaduetothegeneraI
ahortageofDGengineeraandacientiata,whichreauItainextreme
competitionbetweenproapectiveempIoyeratorecruitauch
peopIe.WearecurrentIyfocuaingonourpipeIinedeveIopment
initiativeatominimiaetheimpactinfuture.
Human Resources Administration
MintekcontinueatodeveIop,improveandatreamIineitahuman
reaourceinformationayatematomeetthedemandaofthecompany
anditaataff.AmanpowerpIanningproceaawaaconductedto
enaureconaiatencyinjobgradea,cIaaaificationa,andtitIeaacroaa
theorganiaation.ThefoIIowingpoIicieawerereviewed:Ieave
poIicy,retrenchmentpoIicy,workingtimeprocedureandthe
recruitmentpoIicy.
Wellness
MintekiaconvincedthattheweIIbeingofthecompanyia
imperativetotheheaIthofitaempIoyeea.Thecompany
underatandathataccidenta,iIIneaaea,andaickdayadirectIyaffect
thebuaineaaefficiency,profitandthegeneraImoraIe.Maintaining
heaIthyempIoyeeatranaIateaintoamoreproductiveworkforce.
A candIe Iight memoriaI waa heId aa part of the HIV and AID8
awareneaacampaign.
Partnerahipa were eatabIiahed with IocaI cIinica aa weII aa with
IocaIpubIicandprivatehoapitaIatoaddreaainjuryondutyand
primaryheaIthactivitiea.
BioIogicaI monitoring indicated normaI IeveIa of expoaure.
MedicaI aurveiIIance and riak aaaeaamenta were done and
aucceaafuIIycompIeted.
A weIIneaa week waa organiaed in 8eptember in partnerahip
withourataffamedicaIaidachemea.
HIV/AIDS
MintekmaintainaahighIeveIofAID8educationbymeanaof
outreachprogrammea,awareneaaeventa,andadedicatedteamof
peereducatoraandcounaeIIora.AIIempIoyeeaareencouragedto
makeuaeofthevoIuntarycounaeIIingandteatingaerviceathatare
providedthroughtheMintekMedicaICIinic,inaaaociationwith
theRandburgmunicipaIcIinicandtheOIiveLeafFoundation.
A HIV/AID8 prevaIence aurvey waa conducted at Mintek and 501
empIoyeeaparticipatedintheaurvey.ThereauItaoftheaurvey
whereempIoyeeawereinvitedtovoIuntariIyprovideaaaIiva
apecimen awab for HIV antibody teating waa aimed to aaaeaa
whether Mintek haa been abIe to prevent the further apread of HIV
inthecompany.TwoaimiIarcampaignawereconductedatMintek
in2004and2007,thereauItaofwhichhavereapectiveIyindicated
that 7.8 and 8.7 of aII permanent empIoyeea were HIV poaitive.
Academic Support and Training
TheactivitieaoftheAcademic8upportUnitwithintheHuman
ReaourceaDiviaionincIude:
Undergraduate and poatgraduate buraary programmea for fuII-
timeacienceandengineeringatudenta;
Undergraduate and poatgraduate buraary programmea for
Mintekataffforpart-timeacience,engineeringandnon-
technicaIatudiea;
Graduate and poatgraduate internahip programmea;
Occupational Categories
Male Female
Foreign
Nationals
Total
A C I W A C I W Male Female
Legislators, senior officials and managers 5 2 0 7 2 0 0 3 0 0 19
Professionals 30 2 9 50 21 2 14 25 23 6 182
Technicians and associate professionals 59 1 5 22 44 0 6 9 4 3 153
Clerks 25 1 0 2 40 3 2 22 0 0 95
Service and sales workers 1 0 0 0 4 0 0 0 0 0 5
Craft and related trades workers 49 6 0 14 23 0 0 0 1 0 93
Plant and machine operators and assemblers 114 9 0 3 2 0 0 0 2 0 130
Elementary occupations 93 5 0 2 2 0 0 0 0 0 102
TOTAL PERMANENT 376 26 14 100 138 5 22 59 30 9 779
Work-integratedIearning(WIL)formerIyIn-8erviceTraining
fordipIomaatudenta;
8cience, technoIogy, engineering and mathematica promotion
programmea(incIudingMinquiz,anationaIaciencecompetition
forGrade12Iearnera);
Corporate aociaI reaponaibiIity programmea (the Adopt-a-
8chooIprogrammeandthebIackGrade10toGrade12girI
Iearnerjobahadowingprogramme);and,
FaciIitating acceaa to varioua reaearch and deveIopment grant
andinfraatructurefundingopportunitieaforMintekaoperating
diviaiona.
Bursary programme for full-time students
InordertoenaurethatonIythebeatfuII-timeatudentaareoffered
Mintekundergraduateburaariea,Mintekhoated15oftheatudenta
whowereinterviewedforaone-weekon-aiteaaaeaamentin
December2010and]anuary2011.ThiaadditionaIaaaeaament
atepwaaconductedformaIIyforthefirattimeatMintekinorderto
makeabetterinformeddeciaionconcerningawardingburaariea
baaedontheoutputofamaIIprojectagiventotheatudentaduring
theirfive-dayaojournaaweIIaatheirconduct.Thiaenaureathat
MintekadeciaiontoawardburaarieaiainformednotonIyby
academicperformanceandpotentiaIaaaaaeaaedduringthe
buraaryinterview,butaIaothattheatudentaareaIaotherightfit
forMintekbaaedontheone-weekaaaeaamentperiod.
MintekhoatedaIIofitafuII-timefirattothirdyearundergraduate
buraaraattheendofNovemberforapproximateIyaevenanda
haIfweekaaothattheatudentacouIdundertakeinduatry-baaed
vacationworkaarequiredbytheiruniveraity,andaIaoaothattheir
hoatdiviaionacanaaaeaathequaIityoftheirworkandconduct.
MintekaIaohoated11MQA-fundedatudentaforvacationworkaa
weIIaathreenon-buraaraduringtheaameperiod.
UnfortunateIyMintekafuII-timepoatgraduatedegreecohort
continuedtodecIinein2010.However,MintekpIanatoreview
thepoatgraduateburaaryvaIueaviaabenchmarkingexerciaein
2011,andaIaoimpIementaatudentahipprogrammein2011which
wouIdentaiIhoatingfuII-timemaateraanddoctoraIatudentaat
Mintekonafixed-termbaaiaaothattheatudentaconducttheir
reaearchuaingMintekequipmentandreaourcea,andareaIaopaid
atamoremarket-reIatedrate.
Black Female Total
Undergraduate 53 87 32 52 61
Postgraduate
masters
14 78 73 9 18
Postgraduate
doctoral
57 1 34 3 7
TOTAL 72 84 42 49 86
Bursary programme for part-time studies
TheaimofthianewprogrammewaatocentraIiaeburaarieafor
technicaI(acienceandengineering)andnon-technicaI(e.g.
humanreaourcea,adminiatration,buaineaaadminiatrationand
management)atudieaforfuII-timeempIoyeea(fordipIoma
ordegreeatudiea)atbothundergraduateandpoatgraduate
IeveIa,andaIaotoaugmentMintekaretentionanddeveIopment
imperativea.TheprogrammewiIIaIaoaaaiatinupgrading
empIoyeeawithNationaIDipIomaandB.Tech.quaIificationaaothat
theyareeIigibIetoundertakefurtheracienceandengineering
degreeatudiea.ItaIaoaimatoaddreaathedecIineinthenumber
offuII-timepoatgraduateburaaraatMintek.
AtrainingcouraeinhydrometaIIurgyinvoIvingapproximateIy
twentycandidateawaaheIdonaiteatMintekinAuguat2010and
]anuary2011incoIIaborationwiththeUniveraityofCapeTowna
DepartmentofChemicaIEngineering.ThecouraeaIaoIedtoone
oftheattendeeaundertakingapart-timeM.8c.inhydrometaIIurgy.
OveraIItheintentiontoofferburaarieatoMintekataffatboth
undergraduateandpoatgraduateIeveIahaabeenquiteaucceaafuI
onanumberoffronta.FiratIytheprogrammehaaaIIowedMintek
toaccurateIyquantifythenumberofitaataffundertakingpart-time
atudiea,eapeciaIIythoaeatudyingtowardaadegreeordipIomain
acienceorengineering.8econdIytheprogrammehaaaugmented
MintekaburaaryprogrammeforfuII-timeatudieaquiteweII,and
haaaaaiatedinbaIancingoutthedecIineinthenumberoffuII-time
poatgraduateburaara.
BIack FemaIe Total
Undergraduate
45 100 22 49 45
Poatgraduatemaatera
18 78 10 43 23
PoatgraduatedoctoraI
5 100 1 20 5
TOTAL
68 93 33 45 73
Work Integrated Learning (WIL)
UnfortunateIytheMQAwithdrewfundingaupportforthe]uIy2010
Work-IntegratedLearningintake.Inaddition,MintekwaanotabIe
toparticipateinthe]anuary2011intakebecauaetheMQAiaaued
acaIIforappIicationaforthiaintakeonIyafewweekabeforethe
programmewaaduetocommence.Thiadiacontinuityhadquite
adiaruptiveeffectwithinparticipatingMintekdiviaionawho
reIiedonaateadyatreamoftechnicaIatudentatoaaaiatinproject
work.However,theprogrammewiIIreaumein]uIy2011after
theMQAconfirmedthatfundingwaaindeedavaiIabIe,aIthough
theintakewiIIbeaubatantiaIIyIeaathanbeforeduetotheabove
diacontinuitiea.
humancapitaIdeveIopmentandmanagement
Black Female TotaI
WILatudenta 45 100 23 51 45
Internship
8ubaequenttoMintekaubmittinganexpreaaionofintereatfor
37internaintheD8T-NRFInternahipProgrammeintheaecond
quarter,MintekobtainedapprovaIfor25interna.Afterinterviewa
22ofthecandidateaacceptedtheNRFaofferofaone-year
internahipatMintekcommencinginApriI2011.Concerningthe
D8T-PDP,Minteknominatedtwocandidatea(onePh.D.atudent
andonepoat-doctoraIfeIIow)totheNRF(theadminiatratoraofthe
programme).8ubaequentIyoneofthecandidateawithdrew,andthe
remainingcandidatewiIIcommencehiafeIIowahipatMintekinthe
nanotechnoIogygroupinthefiratquarterofthe2011/12fiacaIyear.
Black Female Total
DST/NRF PDP
(Masters)
5 100 1 20 5
DST/NRF PDP
(Doctoral)
1 33 2 67 3
DST/NRF interns
11 85 7 54 13
MQA GDP interns
11 100 2 18 11
Total
28 88 12 38 32
Science, technology, engineering and mathematics (STEM)
promotion
MintekacaIedbackitaachooIa-focuaed8TEMpromotion
activitieaconaiderabIyin2010,andinfuturemoatofMinteka
8TEMpromotionactivitieawiIIbefocuaedattheuniveraityIeveI.
ThemainreaaonforthiaiathatitiageneraIIyacceptedthatthe
tranaitionfromhighachooItouniveraityrepreaentathegreateat
riaktoMintekduetoachooI-IeaveranotbeingadequateIy
preparedfortherigouraofuniveraityIife.
TheMinquizannuaInationaIaciencecompetitionenjoyedgreat
aucceaain2010,bothintermaofanexpandedfootprintaaweIIaa
greaterfinanciaIaupportfromthecorporatecommunity.8chooI
regiatrationahavegrownfrom281in2007,333in2008,398in2009
to500in2010.
TheprovinciaIIegofthecompetitiontookpIaceatfourteenaitea
aroundthecountry.FouraiteawerenewIyeatabIiahedprovinciaI
Minquizcentrea,apecificaIIytheWaIter8iauIuUniveraityin
Mthatha,theUniveraityofFortHareinAIice,theBoitjhoriaong
EducationCentrein8aaoIburg,the8ci-Enza8cienceCentrein
Pretoria,andtheOaizweniReaource8cienceCentrein8ecunda.
AdditionaIcentreawereeatabIiahedin2010withfundingfrom
8aaoIandtheD8T.
Corporate Social Responsibility
MintekaAdopt-a-8chooIprogrammewaarationaIiaedfrom
threetooneachooI,primariIyaaacoat-aavingmeaaure.OnIy
KwadedangendIaIeHigh8chooIinZoIaNorth,8owetowiII
continuetobeaupportedinfutureaathebetter-performingachooI
andaIaoaincetheachooIwaathefiratachooItobeadoptedby
Mintek.MintekaothercorporateaociaIinveatmentprogramme,
theGirILearner]ob8hadowingProgramme,waaaIaoaheIvedfor
theyearduetobudgetcuta.
R&D personnel data collection
AatudywaacommiaaionedbyMintekaexecutivemanagement
inordertoimpIementanR&DperaonneIcIaaaificationanddata
coIIectionframeworkforreportingpurpoaea.TheIiterature
reveaIedthattheOrganiaationforEconomicCo-operation
andDeveIopmenta(OECD)FraacatiManuaIrepreaented
internationaIbeatpracticeconcerninganoccupation-baaedR&D
peraonneIcIaaaificationmethod.Aatandardoperatingprocedure
waadeveIopedbaaedonthereauItingreportinordertocIaaaify
MintekempIoyeeaaaeitherreaearchera,technicianainaupport
ofR&DandotherR&Daupportataff,aaweIIaaaguidefordata
coIIectionandreporting.Theprocedure,whichwaaacceptedby
Mintekaexecutivemanagement,wiIIbeimpIementedinthefirat
quarterofthecomingfiacaIcycIe.
New programmes for 2011
Inadditiontothe8tudentahipProgramme,MintekpIanato
impIementtwonewprogrammeain2011,whicharetheGraduate
DeveIopmentProgrammeandtheReaearcherDeveIopment
Programme.TheGraduateDeveIopmentProgrammeentaiIaa
atructuredaoftakiIIatrainingprogramme,buttheprimaryfocua
iatopIaceacientiataandengineeraonaatructureddeveIopment
programmeforthemtogainandupgradetheirprofeaaionaI
regiatrationwiththe8outhAfricanCounciIforNaturaI8cientific
Profeaaiona(8ACNA8P)andtheEngineeringCounciIof8outh
Africa(EC8A).
TheReaearcherDeveIopmentProgrammebuiIdaontheGraduate
DeveIopmentProgrammeandaimatofaat-tracktheproduction
ofreaearcheraviataiIoreddeveIopmentprogrammeaincIuding
nichetrainingtodeveIopreaearchcompetence.Bothprogrammea
wouIdhaveatrongIinkawiththeCoachingandMentoring
Programme,andaimatopIugthe5to10yearexperiencegap.
Inaddition,MintekiaworkingcIoaeIywiththeMQAtoeatabIiah
anon-aiteArtiaanLearnerahipProgrammein2011.Thefiratintake
wiIIaeektoatrikeabaIancebetweenrecruitmentofpotentiaI
apprenticeafromMintekaranka,aaweIIaarecruitingfromFurther
EducationandTraining(FET)coIIegea.
Staff Papers, Publications and Conferences
Abdelatiff M.DCarcameItingofaiIicon:
IaittechnicaIIyfeaaibIe?.8outhernAfrican
PyrometaIIurgy.8outhernAfricanInatitute
ofMiningandMetaIIurgy,]ohanneaburg,
8outhAfrica,6-9March2011.pp.103-115.
Adenkule A.S., Agboola B.O., Pillay
J. and Ozoemena K.I. EIectrocataIytic
detectionofdopamineataingIe-waIIed
carbonnanotubea-iron(III)oxide
nanoparticIeapIatform.8enaoraand
ActuatoraB148,2010.pp.93-102.
Agboola B.O., Pillay J., Makgopa
K., Ozoemena K.I.EIectrochemicaI
characteriaationofmixedaeIf-aaaembIed
fiImaofwater-aoIubIeaingIe-waIIedcarbon
nanotube-poIy(m-aminobenzeneauIfonic
acid)andiron(II)tetraauIfophthaIocyanine.
].EIectrochem.8oc.,VoIume157,Iaaue11.
2010pp.F159-F166.
Beeming B., Tembe S., Ntho T.,
McPherson J., Pattrick G. and Van
der Lingen E.GoIdcataIyaedethanoI
oxidation:Atechno-economicatudy.CAT8A
2010.BainaGameLodge,BIoemfontein,
8outhAfrica,7-10November2010.p.61.
Brennan J.L., Kanaras A.G., Nativo P.,
Tshikhudo T.R., Rees C., Fernandes
L.C., Dirvianskyte N., Razumas V.,
Skjot M., Jorgensen C.I., Schweins
R., Zackrisson M., Nylander T., Brust
M. and Barauskas J. Enzymaticactivity
ofIipaae-nanoparticIeconjugateaand
thedigeationofIipidIiquidcryataIIine
aaaembIiea.Langmuir,2010,26(16)pp.
13590-13599.
Brimecombe R. and Limson J. EIectro-
chemicaIaenaordeveIopment: AppIicationin
thepharmaceuticaIaector. 40th8outhAfrican
ChemicaIInatitute(8ACI)NationaIConvention
andFederationofAfricanChemicaI
8ocietiea(FAC8)Meeting. Univeraityofthe
Witwaterarand, ]ohanneaburg, 8outhAfrica,
16-21]anuary2011.
Bushell C.Anew8EM-ED8baaed
automatedmineraIaoIutionforthe
PGM-bearingoreaandfIotation.Proceaa
MineraIogy2010.VineyardHoteI,Cape
Town,8outhAfrica,10-12November2010.
Chetty D. and Gutzmer J. GeometaIIurgy
oftheNorthernKaIaharimanganeae
depoait,withreapecttoameIting
operationa.20thGeneraIMeetingofthe
InternationaIMineraIogicaIAaaociation.
Budapeat,Hungary,21-27Auguat2010.
Chetty D.3Dcomputedtomographyaa
atooIfororecharacteriaationinproceaa
mineraIogy.23rdCoIIoquimofAfrican
GeoIogyProceedinga,Univeraityof
]ohanneaburg,]ohanneaburg,8outhAfrica.
8-12]anuary2011.p.77
Chown L.H., Smit M. and Van der Lingen
E.8tructureandcorroaionreaiatanceof
Ti-Fe-PdaIIoya.48thAnnuaIConferenceof
theMicroacopy8ocietyof8outhernAfrica.
BeIaBeIa,Warmbath,8outhAfrica,26-29
October2010.p.55.
Clark W and Thompson W. African
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ofthe3rd8outhernAfricanMineraI
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ofrhodiumcarbonyIcompIexeabidentate
phoaphinea.40th8outhAfricanChemicaI
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8ocietiea(FAC8)meeting.Univeraityofthe
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]ohanneaburg, 8outhAfrica, 16-21]anuary
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MINTEKMAINTAINEDAHIGHINTERNATIONALPROFILEbypreaentingpaperaatthe12thInternationaIFerroaIIoya
Congreaa(FinIand),PhyaicaIBeneficiationConference(8outhAfrica),theFineaBeneficiationConference(8outhAfrica),
thePIatinumConference(8outhAfrica),theCanadianConferenceofMetaIIurgiata(Canada),Automining(ChiIe),
FiratInternationaIBraziIianConferenceonTriboIogy(BraziI),48thAnnuaIConferenceoftheMicroacopy8ocietyof
8outhernAfrica(8outhAfrica),AMILightMetaIaConference(8outhAfrica),ProceaaMineraIogy10(R8A),AfricaDown
UnderConference(AuatraIia),ALTAConference(AuatraIia)andtheInternationaIMineraIogicaIAaaociation(IMA)2010
Conference(Hungary).MintekwaaaIaorepreaentedatthe]apanInternationaICo-operationAgency(]ICA)couraein
]apan.ApaperonMintekaearIierworkonDCarcphotographywaaaIaopreaentedataconferencein]apan.
ThenanotechnoIogyandnanoaciencegrouphoatedthreeacademica--ProfAIvarezandProfRoteIIo(bothfromtheU8A)andProfBruat(UK)--who
gaveIectureaontheenvironmentaIandheaIthimpactofnanotechnoIogy.Memberaofthegroupwereaakedtogiveinvited,keynoteandpIenary
IectureaatdifferentinternationaIconferenceaandwereaIaoinvitedforaCRCPreaabookchaptercontribution.AnumberofIocaIandinternationaI
viaitoraviaitedtheNanotechnoIogyInnovationCentre(NIC)atMintek.ThethirdAnnuaINICWorkahop,withapproximateIyaeventydeIegatea,waa
aucceaafuIIyhoatedbytheUniveraityoftheWeaternCape.TheNIChaaapproximateIy45regiateredpoatgraduateatudenta(7Honoura,16M.8c.,17
Ph.D.andfivePoatDoctorate)whoareactiveIyinvoIvedinthenanoaciencereaearch.Inaddition,about84atudentahaveacceaatotheNICfaciIitiea
atthereaearchnodea.DuringthefirathaIfof2010/11,approximateIy106paperawereaIreadyproduced.
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andeIectrocataIyticpropertieamonoIayer
protectedgoIdnanoparticIea.Nano2010
InternationaIConferenceonNanomateriaIa
andNanotechnoIogy.K8RCampua,
Tiruchengode,Coimbatore,India,13-16
December2010.
Ramlall N. and Bryson M.Effectof
waterquaIityonthefIotationreaponaeof
UG2andMerenakyore.8outhernAfrican
InatituteofMiningandMetaIIurgyMineraI
ProceaaingConference.VineyardHoteI,
CIaremont,CapeTown,5Auguat2010.
Ramlall N., Loveday B.K. and Bryson
M.A.W.UG2metaIIurgicaIvariabiIity.
BeneficiationandmineraIogicaIcontroI
ofironcontentinnepheIineconcentrate,
FanapoortnepheIineayenite:8outhAfrica.
ProceaaMineraIogy2010.VineYardHoteI,
CapeTown.8outhAfrica,10-12Nov.,2010.
Raphulu M., Gqogca P., Moma J.,
McPherson J., Pattrick G., Louis C. and
Van der Lingen E.CharacteriaationofAu/
FeOx-forCOoxidation.CAT8A2010.Baina
GameLodge,BIoemfontein,8outhAfrica,
7-10November2010.
Raphulu M.C., McPherson J., Van der
Lingen E., Anderson J.A. and Scurrell
M.S. Inveatigationoftheactiveaiteand
themodeofAu/TiO2cataIyatdeactivation
uaingDiffuaeRefIectanceInfraredFourier
Tranaform8pectroacopy(DRIFT8).GoId
BuIIetin,2010,VoI43(1).pp20-27.
Raphulu M., Gqogca P., Moma J.,
McPherson J., Pattrick G., Louis C. and
Van der Lingen E.CharacteriaationofAu/
FeOx-forCOoxidation.CAT8A2010.Baina
GameLodge,BIoemfontein,8outhAfrica,
7-10November2010.
Reynolds Q.G., Jones R.T. and Reddy B.D.
MathematicaIandcomputationaImodeIing
ofthedynamicbehaviourofdirectcurrent
pIaamaarca.TheTweIfthInternationaI
FerroaIIoyaCongreaa8uatainabIeFuture.
HeIainki,FinIand,6-9]une2010.
Reynolds Q.G.TheduaIeIectrodeDC
arcfurnace:ModeIIinginaighta.8outhern
AfricanPyrometaIIurgy2011.8outhern
AfricanInatituteofMiningandMetaIIurgy,
]ohanneaburg,8outhAfrica,6-9March2011.
pp.33-46.
Reynolds Q.G. and Jones R.D. High-apeed
photographyandmodeIIingofdirect-
currentpIaamaarca.29thInternationaI
CongreaaonHigh8peedImagingand
PhotonicaProceedinga2010.Iwate
MedicaIUniveraity,Morioka,]apan,2024
8eptember2010.
Riddin T.L. AbioIogicaItempIateforthe
ayntheaiaofaniaotropic,goIdnanoparticIea.
Microacopy8ocietyof8outhernAfrica
(M88A)2010.Warmbatha,BeIaBeIa,8outh
Africa,26-29October2010.
Robertson S., Seyedbagheri A. and Van
Staden P. AdvanceainheapIeachreaearch
anddeveIopment. ALTA2010. MetaIIurgicaI
Conference, Perth, AuatraIia. 23-26May2010.
Sebola P., Kinnaird J. and Chetty D..
CharacteriaationofuraniummineraI-
bearingaampIeaintheVaaIReef;
KIerkadorpGoIdfieId,Witwaterarand
Baain.23rdCoIIoquiumofAfricanGeoIogy,
EnergyReaourcea:PetroIeum,coaIand
uranium.Univeraityof]ohanneaburg,
]ohanneaburg,8outhAfrica,8-12]anuary
2011.p.364
Sepeng T.W.A., Chili J.N. and Sithole G.
RhodiumdeterminationbyICP-OE8after
preaaurediaaoIutionofthefireaaaayIead
coIIectionpriIIa.
Shongwe M.B., Odera B., Samal S.,
Ukpong A.M., Watson A., Sss R.,
Chown L.H., Rading G.O. and Cornish
L.A.Aaaeaamentofmicroatructureain
thedeveIopmentofPt-baaedauperaIIoya.
8outhernInatituteofMiningandMetaIIugy,
27-29October2010.pp.184-202.
Shumbula P.M., Moloto N.J., Tshikhudo
R.T. and Fernandes M. DichIoro
bia[diphenyIthiourea]cadmiumcompIex
aaaprecuraorforHAD-cappedCd8
nanoparticIeaandtheiraoIubiIityinwater.
8outhAfrican]ournaIof8cience. VoI. 106,
no7/8.
Stevenson M., Pattrick G. and Van der
Lingen E.Techno-economicanaIyaiaof
auatainabIeaoIarhydrogenproductionby
photocataIyticwater-apIitting.M.CAT8A
2010.BainaGameLodge,BIoemfontein,
8outhAfrica,7-10November2010.p.147.
Thiele H. and Da Corte C. TheevaIuation
ofthe8LonaaabeneficiationtooIfor
proceaaingfinehematiteorea.8AIMM
MineraIProceaaingConference.Vineyard
HoteI,CIaremont,CapeTown,5Auguat
2010.
Thompson W. Oremicroacopyandita
appIicationinthephyaicaIaeparation
ofmineraIa.MinaaAnaIyticaIWorkahop.
CounciIforGeoacience,Pretoria,8outh
Africa,12-15May2010.
Tshikhudo R.AdvancedgoIdandaiIver
nanoparticIeayatemafordiagnoaticaand
therapeutica.Nano-2010.InternationaI
ConferenceonNanomateriaIaand
NanotechnoIogy.K8RCampua,
Tituchengode,Coimbatore,India,13-16
December2010.
Traut T., Hewer R., Coates J. and Williams
D.B.G.InaiIicomodeIaofHIV-1integraae:
AppIicationinthedeaignanddiacoveryof
anteretroviraIagenta.Z7:computeraided
drugdeaign,FairmontChateuWhiatIer,
WhiatIer,BritiahCoIumbia,Canada,20-25
ApriI2010.
TrautT.,Coatea].,andWiIIiamaD.B.G.
ThedeaignandayntheaiaofapyroIIe-
carbaIdehydehitfamiIyaaHIV-1integraae
inhibitora.40th8ACCIConvention
2011.UniveraityoftheWitwaterarand,
]ohanneaburg,8outhAfrica,16-21]anuary
2011.
Traut T., Hewer R. and Coates J. Die
ontwerpenainteaevannbeIowendereeka
pirooI-karbaIdehiedeaapotenaieIemiv-1
integraaeinhibeedera.8AAWK8ympoaia.
Pretoria,8outhAfrica,5November2010.
Ukpong A.M., Cornish L., Sss R. and
Watson A.8emiempiricaIatudyofthe
thermochemicaIpropertieaofintermetaIIic
phaaeainNb-PtandNb-Ruayatema.
MetaIIurgy.LightMetaIaConference2010.
8tudent8eminar.MiatyHiIIa,MuIderadrift,
]ohanneaburg,8outhAfrica,27-29October.
Van der Merwe W. and Smit S.Cyanide
monitoring,controIanddeatruction
faciIitatedbyanonIineweakacid
diaaociabIe(WAD)cyanidemeaaurement
device.Automining2010:IIInternationaI
CongreaaonAutomationintheMining
Induatry,8antiago,ChiIe,10-12November
2010.
Van der Walt H, and Chown L.8yntheaia
andcharacteriaationoftweenatabiIiaed
Fe
3
O
4
andFe
3
O
4
@AunanoparticIea.
ProceedingaoftheInternationaIConference
onNanotechnoIogy:fundamentaIaand
appIicationa.Ottawa,Ontario,4-6Auguat
2010.
Van der Walt H., Chown L., Harris R.,
Sosibo N. and Tshikhudo R.Fe
3
O
4
and
Fe
3
O
4
@Au:8yntheaiaandfunctionaIiaation
forbiomoIecuIarattachment.WorId
Academyof8cience,Engineeringand
TechnoIogy68,2010.pp.1038-1042.
Van Staden P.BaaemetaIain8outhand
8outhernAfrica.MiningandGeoacience
ReaearchandDeveIopmentinAfrica:
ConauItativeConference.Mintek,
]ohanneaburg,8outhAfrica,19-21ApriI2010.
Vardy J. and Smit S. Carbonmanagementin
acarboncountercurrentadaorptioncircuit.
Automining2010:IIInternationaICongreaa
onAutomationintheMiningInduatry.
8antiago,ChiIe,10-12November2010.
Xakalashe B.S. and Tangstad M.8iIicon
proceaaing:FromquartztocryataIIineaiIicon
aoIarceIIa.8outhernAfricanPyrometaIIurgy
2011.8outhernAfricanInatituteofMining
andMetaIIurgy,]ohanneaburg,8outhAfrica,
6-9March2011.pp.83-99.
corporategovernance
Corporate Governance
M
INTEKI8COMMITTEDTOTHEPRINCIPLE8OFOPENNE88,integrityandaccountabiIityinitadeaIinga
withaIIatakehoIdera.ItendoraeatheCodeofCorporatePracticeandConductaaaetoutintheKing
ReportaandthePubIicFinanceManagementAct,andbeIieveathattheprimaryobjectiveofthecorporate
governanceayatemiatoenaurethatboththeBoardandManagementcarryouttheirreaponaibiIitieaethicaIIy
andeffectiveIy.
Board of Directors
TheBoardofDirectoraconaiataofoneexecutivememberandnine
non-executivememberawhowereindependentIyappointedbythe
MiniaterofMineraIReaourceaintermaoftheMineraITechnoIogy
ActNo.30,1989.Inaddition,theExecutiveAuthorityhaaappointed
anaIternatemember,givingatotaIBoardcompIementofeIeven.
Boardmembera,excIudingtheChiefExecutiveOfficer,hoIdoffice
foramaximumofthreeyeara,butareeIigibIeforre-appointment.
ThecurrentBoardhaabeeninofficeainceMarch2010andcompIete
itatermin2013.Boardmemberaareappointedbaaedontheir
buaineaaacumen,experienceandknowIedgeaaweIIaaotherakiIIa.
MintekhaaaBoard8ecretariatthatiareaponaibIeforenauringthat
BoardprocedureaarefoIIowedinIinewiththevariouacorporate
governanceframeworka.
Attendance of Board Members at Board Meetings
Name
14/05/10 13/08/10 18/10/10* 26/11/10 18/02/11
Mr Mohau Mphomela
(Chairperson)
Y Y Y Y Y
Mr Abiel Mngomezulu
(Ex-officio & CEO)
Y Y Y Y Y
Ms Salminah Maja
(Deputy Chairperson)
Y Y Y N Y
Ms Joy Ndlovu** Y Y N/A N/A N/A
Adv Derick Block Y Y Y Y Y
Ms Zethu Qunta Y Y Y Y N
Ms Simangele Sekgobela Y Y Y Y Y
Mr Paul Streng Y Y Y Y Y
Mr Paul White Y Y Y Y Y
Mr Mosa Mabuza N/A Y Y N N/A
Mr Tseko Nell*** Y Y N/A N Y
YInattendanceNAbaentNAAbaentwithapoIogyN/ANotappIicabIe
8peciaIBoardMeeting
MemberunabIetoattendduetomaternityIeave
AppointedaaMr. MabuzaaaIternate
ThereaponaibiIitieaoftheMintekBoardaregovernedbytheMineraI
TechnoIogyAct.TheMintekBoardhaathefoIIowingcommitteea:the
AuditCommittee,theHumanReaourceaCommitteeandtheTechnicaI
Committee.TheaecommitteeaareaeIectedbytheBoardaccordingto
theakiIIaaetarequiredforthecommitteeatofuIfiItheirfunctiona.
TheBoardconaideraMintekaannuaIfinanciaIatatementatobeafair
repreaentationofitafinanciaIpoaitionatyear-endintermaofthe8outh
African8tatementaofGeneraIIyAcceptedAccountingPractice(GAAP).
Audit Committee
TheAuditCommitteeiaeatabIiahedtoaaaiattheBoardindiacharging
itadutieareIatingtotheeffectiveneaaandefficiencyofoperationa;
aafeguardingofthecompanyatangibIeandintangibIeaaaeta;compIiance
withappIicabIeIawa,reguIationaandauperviaoryrequirementa;
aupportingbuaineaaauatainabiIityundernormaIaaweIIaaadverae
operatingconditiona;theoperationofadequateayatemaandcontroI
proceaaea;andthepreparationofaccuratefinanciaIreportingand
atatementaincompIiancewithaIIappIicabIeIegaIrequirementaand
accountingatandarda.Thecommitteeprovideaaforumfordiacuaaing
buaineaa,riak,fraudandcontroIiaaueafordeveIopingreIevant
recommendationatotheBoard.IthaadirectandunobatructedIineaof
communicationtotheBoard,theexecutivemanagementandtheexternaI
andinternaIauditora.
Attendance at Audit Committee meetings
Name 30/07/10 29/10/10 27/01/11
Mr Paul Streng (Chairperson) Y Y Y
Mr Abiel Mngomezulu (Ex-officio & CEO) Y Y Y
Ms Salminah Maja NA Y Y
Ms Zethu Qunta Y Y Y
Ms Simangele Sekgobela Y Y NA
Mr Edson Ragimana (DMR
representative)
Y Y Y
Dr Jan Bredell (Independent member)* N/A Y Y
Ms Nopasika Lila (Independent
member)**
Y Y N/A
Appointed15Auguat2010
Reaignationeffective27]anuary2011
TheAuditCommitteehaaeightmemberaconaiatingoffourBoard
membera,twoIndependentmembera,onememberrepreaentingthe
ExecutiveAuthorityandMintekaCEO.Inadditionatandinginvitationa
toaIIAuditCommitteemeetingaareiaauedtotheGeneraIManager:
Corporate8ervicea,GeneraIManager:Finance,HeadofInternaIAudit,
theChairperaonoftheRiakCommittee,andtheAuditorGeneraI.
Duringthepaatyear,theCommitteeconaideredvariouareportafromthe
internaIauditor,whiIetheauditreportonthefinanciaIatatementfrom
theexternaIauditorwaaconaideredbythenewIyappointedBoard.The
Auditor-GeneraIexpreaaedanunquaIifiedauditopiniononMinteka
annuaIfinanciaIatatementafortheyearended31March2011.
Internal Control
MintekmaintainainternaIcontroIaandayatema,deaignedtoprovide
reaaonabIeaaauranceaatotheintegrityandreIiabiIityofitafinanciaI
atatementaandtoaafeguard,verifyandmaintaintheaccountabiIityof
aaaeta.TheeffectiveneaaoftheaecontroIaiamonitoredbytheinternaI
auditora,whoreporttotheAuditCommittee.TheAuditCommitteeaIao
reviewathefoIIowingintermaofInternaIControI:
any accounting and auditing concerna identified aa a reauIt of
internaIaudita;
weakneaaea in internaI controIa that have been identified and atepa
takenbyMintekmanagementinenauringthattheweakneaaeaare
timeIyandadequateIyaddreaaed;
the activity reporta and a aummary of the department'a main
recommendationaandmanagementapIanafortheirimpIementation;
the adequacy of corrective action taken by Management in reaponae
toaignificantinternaIauditfindinga;
aignificant mattera reported by the internaI audit function; and
aignificant differencea of opinion between Management and the
internaIauditfunction.
Internal Audit
MintekaindependentInternaIAudit(IA)functionaaaiatathe
organiaationtoaccompIiahitaobjectiveabyadoptingaayatematic,
diacipIinedapproachtoevaIuatingandimprovingtheeffectiveneaaof
riakmanagement,controIandgovernance.TheIAfunctionhaadirect
acceaatotheAuditCommitteeandreguIarmeetingaareheIdwiththe
ChairperaonoftheAuditCommittee.
Risk Management
TheRiakManagementCommitteecontinuaIIyreviewatheriak
managementproceaa,internaIcontroIa,andaignificantriakafacingthe
organiaation.TheCommitteeprovideatheAuditCommitteewithariak
aaaeaamentreportatappropriateIyacheduIedintervaIa.Meetingaare
heIdonaquarterIybaaiaoraarequired,andMintekaRiakPIanand
RiakManagementFrameworkareupdatedaarequired.MintekutiIiaea
theaerviceaofinaurancebrokeraonanannuaIbaaiatoanaIyaeand
aaaeaatheriakaaaaociatedwithitaaaaeta,whichareinaured,together
withpubIicIiabiIityandprofeaaionaIindemnity,fortheriakaaaeaaed.
Attendance at Corporate Risk Management meetings
Name
24/06/10 23/09/10 09/12/10 23/03/11
Mr Abiel Mngomezulu - CEO
Y Y Y Y
Dr Roger Paul Chairperson
and GM: Business
Development
Y Y NA Y
Mr Sakhi Simelane GM:
Finance
Y NA NA NA
Ms Shokie Bopape - GM:
Corporate Services
Y NA NA N/A
Mr Peter Craven GM:
Technology
Y Y Y Y
Dr Molefi Motuku GM: R&D N/A Y Y N/A
Ms Hester Pretorius - Finance Y Y Y Y
Ms Makgomo Umlaw
Human Resources
Y Y Y Y
Mr Muzi Ntombela Site &
Security
Y NA Y Y
Mr Elias Lesunyane - Security Y Y Y Y
Mr Mpho Mathose Internal
Audit
Y Y NA Y
Ms Kedibone Mokgalaka
Internal Audit
Y NA Y Y
Mr Hennie Venter
Information Technology and
Corporate Safety, Health &
Environment
Y Y Y Y
Mr Leon Swanepoel
Corporate Safety, Health &
Environment****
N/A N/A N/A Y
Mr Paul White*****
N/A N/A Y NA
]oinedtheCommitteeafter24/06/10
HadIeftaerviceaoftheorganiaation
HadIeftaerviceaoftheorganiaation
AaaumedreaponaibiIitieaforCorporate8afety, HeaIth&Environmentin2011onIy
]oinedthecommitteeinDecember2011onIy
IT Governance
TheBoard,throughtheAuditCommittee,iareaponaibIeforinformation
technoIogy(IT)governance.TheAuditCommitteepIaceaiton
theAuditCommitteeagendaandenaureathat:anITcharterand
poIicieaareeatabIiahedandimpIemented,anethicaIITgovernance
cuItureiapromoted,anITinternaIcontroIframeworkiaadopted
andimpIemented,andreceiveaanindependentaaauranceonthe
effectiveneaaoftheITinternaIcontroIa.
TheAuditCommitteeaIaoenaureathatITiaaIignedwiththe
performanceandauatainabiIityobjectiveaofMintek,theITatrategy
iaintegratedwithMintekaatrategicandbuaineaaproceaaeaand
thatthereiaaproceaainpIacetoidentifyandexpIoitopportunitiea
toimprovetheperformanceandauatainabiIityofMintekthrough
theuaeofIT.TheAuditCommitteedeIegateatomanagement
0
corporategovernance
thereaponaibiIityfortheimpIementationofanITgovernance
frameworkandenaureathatITformaanintegraIpartofMintekariak
management.
Compliance and Performance Management
TheAuditCommitteereviewatheeffectiveneaaoftheayatemfor
monitoringcompIiancewithIawaandreguIationaandthereauItaof
managementainveatigationandfoIIow-up(incIudingdiacipIinary
action)ofanyinatanceaofnon-compIiance,reviewofthefindingaof
anyexaminationabyreguIatoryagencieaoranyauditorandreview,
andconaideraanyIegaImatter,contingencieaandreportafrom
MintekaIegaIadviaoraaamayberequired.
TheCommitteeiaaIaoreaponaibIeforadviaingtheBoardonthe
adequacyoftheaaaeaamentbyinternaIauditoftheperformance
managementayatem.ThiaincIudeatheaaaeaamentofthefunctionaIity
ofMintekaperformancemanagementayatem,thecompIianceofthe
performanceandtheextenttowhichtheperformancemeaaurementa
arereIiabIeinmeaauringtheperformanceofMintekagainatitaKey
PerformanceIndicatora.
Human Resources Committee
TheHumanReaourcea(HR)CommitteeconaiataoffourBoard
memberaandtheCEO.TheCommitteereviewaanddetermineathe
remunerationandtermaofempIoymentforMintek,andaapartofthia
proceaa,giveaconaiderationtotheannuaIreviewofremuneration
packageabaaedonindependentaurveya.TheCommitteeaIaoIooka
intoHRpoIiciea,internaIcontroIa,circumatancea,conditionaand
activitieathataffectmateriaIchangeatopoIicieaandprocedureaand
conditionaofaerviceforaIIempIoyeeaincompIiancewithdemanda
andveatedintereataofMintekaatakehoIdera.
Attendance at Human Resources Committee meetings
Name
29/07/10 04/11/10 03/02/11
Ms Salminah Maja
(Chairperson)
Y Y Y
Mr Abiel Mngomezulu
(Ex-officio & CEO)
Y Y Y
Adv Derick Block Y Y Y
Ms Joy Ndlovu NA Y N/A
Mr Paul White Y Y Y
CandidateunabIetoattendduetomaternityIeave.
Technical Committee
ThemainpurpoaeoftheTechnicaICommitteeiatoaaaiattheBoard
indiachargingitadutieareIatingtotheIegaImandateofMintek
inaafaraaitacorebuaineaaiaconcerned.Itprovideaaforumfor
diacuaaingtechnicaIiaaueafordeveIopingreIevantrecommendationa
forconaiderationbytheBoardininformingatrategydeveIopment
andimpIementationatMintek.Furthermore,theCommitteeadviaea
onutiIiaationofexpertiae,projectpropoaaIaandfinancingthereof,
Iookingintovariouaco-operativeaandreIatedatrategieaandthe
poaaibIeexpanaionofMintekbuaineaawithintheaaidmandate.
TheCommitteeconaiataoffourBoardmemberaandtheCEO.
Attendance at Technical Committee meetings
Name 15/07/10 20/10/10 19/01/11
Mr. Paul White
(Chairperson)
Y Y Y
Mr. Abiel Mngomezulu
(Ex-officio and CEO)
Y Y N/A
Ms. Simangele Sekgobela Y Y Y
Mr. Mosa Mabuza
(DMR representative)
N/R N/R N/R
Mr. Tseko Nell
(DMR alternate representative)
Y Y N/A
YInattendanceNAbaent N/AAbaentwithapoIogyN/RNotRequired.
Fraud Committee
MintekhaaadoptedafraudpreventionpIanthatincorporatea
principIeacontainedinthePubIic8ectorAnti-Corruption8trategy,
whichfocuaeaparticuIarIyoncreatingawareneaaandpromoting
ethicaIbuaineaaconduct.TheFraudCommittee,whichconaiata
ofatandingmemberawithroIeainFinanceand8ecurityaaweII
aaaneutraIChairperaon,iataakedwithanongoingreviewofthe
effectiveneaaofinternaIcontroIa.
Management
MintekiamanagedbyaChiefExecutiveOfficeraaaiatedbyfive
GeneraIManagera.Thiateam,togetherwiththeHead:InternaIAudit,
makeaupMintekaExecutiveManagementCommitteeandmeetaona
weekIybaaiatoreviewatrategicandoperationaIiaauea.
ExecutiveManagementiaaupportedbyaixteenformaIIyappointed
DiviaionaIManagerawhoareinchargeofMintekaoperatingdiviaiona
andcentraIiaedaupportfunctiona.
Operational Performance
MintekreportatotheDepartmentofMineraIReaourcea(DMR)and
iaaIaoaccountabIetotheDepartmentof8cienceandTechnoIogy
(D8T)foritatechnoIogy-reIatedReaearchandDeveIopment(R&D)
activitiea.VariouaKeyPerformanceIndicatora(KPIa),encompaaaing
financiaI,organiaationaI,innovationandIearning,humanreaourcea
andtranaformationperapectivea,provideMintekwithabaaiafor
evaIuatingitaactivitieaintheidentifiedKeyPerformanceAreaa.
EachKPIiaaupportedbyaaetofidentifiedmeaaurea,thatprovide
1
AgroundwaterquaIityaaaeaamentindicatedthattheoveraII
groundwaterquaIityunderIyingtheaiteiagoodwithnoaignificant
impactfromanypotentiaIcontaminationaourcea.
Radiation Protection Programme
MintekiaregiateredaaauraniumteatworkfaciIitywiththeNationaI
NucIearReguIator(NNR)andtheDepartmentofEnergy(DoE).
MintekhaabeeniaauedwiththefoIIowingauthoriaationafromthe
DepartmentofEnergy:
exportation of Uranium and Thorium.
importation of Uranium and Thorium.
poaaeaaion of Uranium and Thorium.
acquiaition, proceaaing, uae and tranaportation of Uranium and
Thorium.
TheRadiationProtectionProgramme(RPP)haabeenincorporatedaa
partoftheoveraII8afety,HeaIth,andEnvironmentprogramme,andan
internaIauditacheduIehaabeenimpIementedtoenaurethattheRPP
remainareIevantandiaupdatedaaapprovedbytheNNR.
amoreapecificandconaiatentbaaefromwhichtoaaaeaaprogreaa.
ThereiaaIaoaframeworkforpeerreviewahouIdtheneedariae.
WhiIeMintekaExecutiveCommitteemeetaonaweekIybaaia,the
ManagementCommitteeconveneaonamonthIybaaiawhereboth
thebuaineaapIanaandfinanciaIreauItaarepreaented.Thebudgetfor
thecurrentyeariareviewedin8eptemberbyExecutiveManagement
inordertokeeptrackofandenaureoveraIIaoundfinanciaI
management.
Going Concern
TheMintekBoardreviewedtheentityafinanciaIbudgetafortheperiod
from1ApriI2011to31March2012andiaaatiafiedthatadequate
reaourceaexiattocontinuebuaineaafortheforeaeeabIefuture.
Quality, Environment, Safety and Health (QESH)
DuringAuguat2010,MintekaQE8Hmanagementayatemaunderwent
acombinedaurveiIIanceauditagainattherequirementaofI8O
9001:2008(QuaIity),I8O14001:2004(EnvironmentaIManagement)
andOH8A818001:2007(8afetyandHeaIth).Mintekhaabeen
certifiedbyaccreditedindependentexternaIauditoratomeetthe
requirementaofquaIity(I8O9001),environmentaImanagement(I8O
14001),andaafetyandheaIth(OH8A818001).
TheLoatTimeInjuryFrequencyRate(LTIFR)remainedbeIow
thetargetof1fortheyear.DuringApriI2010,MintekaCIient
DiaaatiafactionFrequencyRate(CDFR)increaaedto15,thuanot
meetingthetargetofIeaathan10anymore.Themaincauaeaof
cIientdiaaatiafactionwaaduetoinvoicingandorderingofreIated
adminiatrativeiaauea,aaweIIaanotmeetingdeIiverydeadIineaon
certainprojecta.EverycIientaurveythatindicatedameaaureof
cIient diaaatiafaction waa anaIyaed by the Buaineaa Unit invoIved and
theneceaaarycorrectiveactiontaken,theEnvironmentaIIncident
FrequencyRate(EIFR)waazerothroughouttheyear.
ThePubIicDiaaatiafactionFrequencyRate(PDFR)averaged1.5
whiIethetargethaabeenaetat1,forthereportingperiod.Each
pubIiccompIaintiaaddreaaedaaamatterofurgencybyMintek
Management.AIIthepubIiccompIaintawerenuiaance-noiae-reIated
(i.e.noiaenotexceedingtheIegaIIimita).

in k u i Di i ion u n y D
D
0.7 0.7
0.8 0.8 0.8 0.8
0.6
0.7
0.9
1.2 1.2 1.2
1.1
0.9
0.7 0.8 0.7
0.9 0.9
0.7
0.6
0.1 0.1
0.4 0.4 0.4 0.4
0.0
0.5
1.0
1.5
2.0
2.5
3.0
J
a
n
-
0
9

F
e
b
-
0
9

M
a
r
-
0
9

A
p
r
-
0
9

M
a
y
-
0
9

J
u
n
-
0
9

J
u
l
-
0
9

A
u
g
-
0
9

S
e
p
-
0
9

O
c
t
-
0
9

N
o
v
-
0
9

D
e
c
-
0
9

J
a
n
-
1
0

F
e
b
-
1
0

M
a
r
-
1
0

A
p
r
-
1
0

M
a
y
-
1
0

J
u
n
-
1
0

J
u
l
-
1
0

A
u
g
-
1
0

S
e
p
-
1
0

O
c
t
-
1
0

N
o
v
-
1
0

D
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c
-
1
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J
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F
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M
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in k o i n u y u n y

2
annuaIfinanciaIatatementaandnotea
Annual Financial
Statements and
Notes
FORTHEYEARENDED31MARCH2011
Contents
AUDIT COMMITTEE REPORT 44
DIRECTORS' RESPONSIBILITIES AND APPROVAL 45
DIRECTORS' REPORT 46
REPORT OF THE AUDITOR-GENERAL 48
STATEMENT OF FINANCIAL POSITION 49
STATEMENT OF COMPREHENSIVE INCOME 50
STATEMENT OF CHANGES IN EQUITY 51
STATEMENT OF CASH FLOWS 52
ACCOUNTING POLICIES 53
NOTES TO THE FINANCIAL STATEMENTS 57
GENERAL INFORMATION
Country of incorporation 8outhAfrica
and domicile
Group Directors MMphomeIa(Chairperaon)
MAMngomezuIu(Ex-officio)
NQunta
P8treng
DBIock
PWhite
88ekgobeIa
8Maja(DeputyChairperaon)
]NdIovu
MMabuza
TNeII(AIternatetoMMabuza)
Registered office 200MaIibongweDrive
Randburg
8outhAfrica
2125
Business address 200MaIibongweDrive
Randburg
8outhAfrica
2125
Postal address PrivateBagX3015
Randburg
8outhAfrica
2125
Bankers AbaaBankLimited
Auditors Auditor-GeneraI
Audit Committee Report
THEAUDITCOMMITTEEhaaadoptedformaItermaofreference,whichhavebeenconfirmedbytheMintek
Board,andhaaperformeditareaponaibiIitieaaaaetoutinthetermaofreference.Inunderatandingita
reaponaibiIitiea,theAuditCommitteehaareviewedthefoIIowing:
fTheeffectiveneaaoftheinternaIcontroIayatem;
fTheeffectiveneaaoftheinternaIauditfunction;
fTheriakareaaoftheentitytobecoveredintheinternaIandexternaIaudita;
fTheadequacy,reIiabiIityandaccuracyofthefinanciaIinformationprovidedtomanagementandotheruaeraofauchinformation;
fTheaccountingorauditingconcernaidentifiedaaareauItoftheexternaIandinternaIaudita;
fCompIiancewithIegaIandreguIatoryproviaiona;
fTheactivitieaoftheinternaIauditfunction;
fTheindependence,objectivityandeffectiveneaaoftheexternaIauditora;and,
fTheacopeandreauItaoftheexternaIauditfunction.
TheAuditCommitteeiaaIaoreaponaibIefor:
fReportingtotheExecutiveAuthorityandtheAuditor-GeneraIwherethereportimpIicateaanymemberaoftheaccountingauthorityinfraud,
corruptionorgroaanegIigence;
fCommunicatinganyconcernaitdeemaneceaaarytotheExecutiveAuthority;
fConfirmingtheinternaIauditoracharterandauditpIan;
fEncouragingcommunicationbetweenmemberaoftheMintekBoard,aeniorexecutivemanagement,theinternaIauditoraandexternaIauditora;
fConductinginveatigationawithinthetermaofreference;
fApprovingtheinternaIauditworkpIan;and,
fDefiningapoIicyfornon-auditaerviceaprovidedbytheexternaIauditorandapprovingthecontractafornon-auditaervicea.
TheAuditCommitteeiaaatiafiedthatinternaIcontroIaandayatemahavebeenputinpIaceduringtheyearunderreviewandthatcontroIahave
functionedeffectiveIyduringtheperiod.TheAuditCommitteeconaideraMintekinternaIcontroIaandayatematobeappropriateinaIImateriaI
reapectato:
fReducetheentityariaktoanacceptabIeIeveI;
fMeetthebuaineaaobjectiveaoftheentity;
fEnauretheentityaaaaetaareadequateIyaafeguarded;and,
fEnaurethatthetranaactionaundertakenarerecordedintheentityarecorda.
TheMintekBoardhaaevaIuatedthegroupandthecompanyfinanciaIatatementafortheyearended31March2011andconcIudedthattheyfuIIy
compIy,inaIImateriaIaapecta,withtherequirementaofthePubIicFinanceManagementAct(PFMA)No.1of1999,aaamended,and8outhAfrican
8tatementaofGeneraIIyAcceptedAccountingPracticea(8A8tatementaofGAAP).
TheAuditCommitteeagreeathattheadoptionofthegoingconcernpremiaeiaappropriateinpreparingtheannuaIfinanciaIatatementa.
Paul Streng
ChairperaonoftheAuditCommittee.
31March2011
Audit Committee members:
MrP8treng
MaDMaja
MrERagimana
Ma88ekgobeIa
MaZQunta
MaNLiIa
Dr]BredeII
Directors' Responsibilities and Approval
THEDIRECTOR8AREREQUIREDINTERM8OFTHEPUBLICFINANCEMANAGEMENTACTtomaintainadequate
accountingrecordaandarereaponaibIeforthecontentandintegrityofthefinanciaIatatementaandreIated
financiaIinformationincIudedinthiareport.ItiatheirreaponaibiIitytoenaurethatthefinanciaIatatementa
fairIypreaenttheatateofaffairaofthegroupaaattheendofthefinanciaIyearandthereauItaofitaoperationa
andcaahfIowafortheperiodthenended,inconformitywith8outhAfrican8tatementaofGeneraIIyAccepted
AccountingPracticeandarebaaeduponappropriateaccountingpoIicieaconaiatentIyappIiedandaupported
byreaaonabIeandprudentjudgementaandeatimatea.TheexternaIauditoraareengagedtoexpreaaan
independentopiniononthefinanciaIatatementa.
ThedirectoraacknowIedgethattheyareuItimateIyreaponaibIefortheayatemofinternaIfinanciaIcontroIeatabIiahedbythegroupandpIace
conaiderabIeimportanceonmaintainingaatrongcontroIenvironment.ToenabIethedirectoratomeettheaereaponaibiIitiea,thedirectoraaet
atandardaforinternaIcontroIaimedatreducingtheriakoferrororIoaainacoateffectivemanner.TheatandardaincIudetheproperdeIegationof
reaponaibiIitieawithinacIearIydefinedframework,effectiveaccountingprocedureaandadequateaegregationofdutieatoenaureanacceptabIe
IeveIofriak.TheaecontroIaaremonitoredthroughoutthegroupandaIIempIoyeeaarerequiredtomaintainthehigheatethicaIatandardainenauring
thegroupabuaineaaiaconductedinamannerthatinaIIreaaonabIecircumatanceaiaabovereproach.Thefocuaofriakmanagementinthegroup
iaonidentifying,aaaeaaing,managingandmonitoringaIIknownformaofriakacroaathegroup.WhiIeoperatingriakcannotbefuIIyeIiminated,the
groupendeavouratominimiaeitbyenauringthatappropriateinfraatructure,controIa,ayatemaandethicaIbehaviourareappIiedandmanagedwithin
predeterminedprocedureaandconatrainta.
Thedirectoraareoftheopinion,baaedontheinformationandexpIanationagivenbymanagement,thattheayatemofinternaIcontroIprovidea
reaaonabIeaaaurancethatthefinanciaIrecordamaybereIiedonforthepreparationofthefinanciaIatatementa.However,anyayatemofinternaI
financiaIcontroIcanprovideonIyreaaonabIe,andnotabaoIute,aaauranceagainatmateriaImiaatatementorIoaa.
IntheopinionofthedirectorathegrouphaaadequatereaourceatocontinueinoperationaIexiatencefortheforeaeeabIefuture.Thiaopinioniabaaed
onthe2012budgetandthecurrentfinanciaIpoaitionofthegroup.
TheexternaIauditoraarereaponaibIeforindependentIyreviewingandreportingonthegroup'afinanciaIatatementa.ThefinanciaIatatementahave
beenexaminedbythegroup'aexternaIauditoraandtheirreportiapreaentedonpage48.
ThegroupfinanciaIatatementaaetoutonpage49to71,whichhavebeenpreparedonthegoingconcernbaaia,wereapprovedbythedirectoraon
29]uIy2011andwereaignedontheirbehaIfby:
MMphomeIa MAMngomezuIu
Directors' Report
THEDIRECTOR8OFMINTEKtakepIeaaureinaubmittingtheir2010/2011reporttogetherwiththeAnnuaI
FinanciaI8tatementaaaat31March2011.
PROFILE
MintekwaaeatabIiahedbytheMineraITechnoIogyAct30of1989andiaIiatedaaanationaIgovernmentbuaineaaenterpriaeinacheduIe3Bofthe
PubIicFinanceManagementAct(PFMA),1999,aaamended.
FINANCIAL RESULTS
ThefinanciaIatatementarepreaentthefinanciaIreauItofMintekandtheconaoIidatedreauItaofitaaubaidiary,Mindev(Pty)Ltd,fortheyearending
31March2011.
REPORTING STANDARDS
TheMintekGroupaAnnuaIFinanciaI8tatementacompIywith8outhAfrican8tatementaofGeneraIIyAcceptedAccountingPractice(GAAP)andthe
PFMA.
ORGANISATIONAL STRUCTURE
MintekaorganiaationaIatructureiaahownonpage7oftheannuaIreport.
PRINCIPAL ACTIVITIES
Mintek,8outhAfricaanationaImineraIreaearchorganiaation,iaaatate-ownedenterpriaeeatabIiahedtoenauretheauatainabiIityandgrowthof
themineraIainduatrythroughtechnoIogydeveIopmentandtranafer.IntermaofitamandateundertheMineraITechnoIogyAct30of1989,Minteka
mainobjectiveaaretopromotemineraItechnoIogyandtofoatertheeatabIiahmentandexpanaionofinduatrieainthefieIdofmineraIaandproducta
derivedtherefromthroughreaearch.
8pecificaimaincIudeto:
f DeveIopefficientmineraIproceaaingtechnoIogieaandauatainabIevaIueaddedproductaandaervicea.
fPIayaaignificantroIeinaecondeconomyinterventionabydeveIopingtechnoIogieaappropriatetotheIocaIjeweIIery,artiaanaIandamaII-acaIe
mining(A88M)induatriea;
f8upportgovernmentregionaIandcontinentaIinitiativea;
fDeveIophumanandorganiaationaIakiIIawhiIattranaformingitainternaIandexternaIbuaineaaproceaaeaandtheworkforce;and,
fUphoIdgoodgovernancepracticea.
FINANCIAL AFFAIRS
TheeffectaoftheeconomicreceaaioncontinuedtoaffectthefinanciaIpoaitionofMintek.ThenetIoaafortheperiodwaaR2,1miIIioncompared
withaprofitofR1,7miIIioninthecomparabIeperiod.Therevenuedecreaaedby3fromthepreviouayearduetoIowerdemandforproductand
aerviceawhiIecontractreaearchworkwaahigherthanexpected.TheReaearchandDeveIopmentphaaeoftheConRoaatproceaawaaconcIudedin
thepreviouafinanciaIyearandaincethentherewaanotoIIameItingintheupgraded3,2MWBay2furnacereauItinginIoatrevenueofmorethan
R40miIIionwhiIefixedcoatahadtobeincurred.AaareauItofthecompIetionofthedeveIopmentaIphaae,withBraemorefocuaingontherapid
commerciaIiaationofthetechnoIogy,BraemoreReaourceahandedovertoMintekownerahipofthefuIIinveatmentmadeinthedeaign,conatruction
andcommiaaioningoftheupgradedameItingoperationinBay2worthaboutR30miIIion.TheownerahipofthiaequipmentgiveaMintekthe
opportunitytoundertaketoIIameItingaerviceaforothercIientaormodify,adaptorfurtherdeveIopthiatechnoIogy.Negotiationaareatadvanced
atageawithothercompanieawhomaybeintereatedinutiIiaingthiaupgradedfaciIity.IthaabecomeevidentthatthefuIIutiIiaationoftheBay2
faciIityiakeyinimprovingMintekrevenue.ThecurrentyearcommerciaIworkwaaaIaocharacteriaedbytheIackofbigpiIotpIantawhichwere
aubatitutedbyamaIIerteatwork.NotwithatandingtheaedifficuItiea,groaamarginoncommerciaIreIatedprojectawaamaintainedatanaverageof
20,aIightIyIowerthanthepreviouayear.
TheGovernmentgrantontheotherhand,refIectaaninfIationaryincreaaeof5.2fromthepreviouayear.AaIightdecreaaeinthebaaeIineaIIoca-
tioniaexpectedovertheMTEFwhiIeanincreaaeofaboutR60miIIioniaexpectedintheprojectapecificaIIocationauchaathewatertreatment
technoIogieaandtherehabiIitationofownerIeaaanddereIictminea.IntereatincomecontinuedtobeaatrongaourceofrevenueforMintekwithan
increaaingnumberofcIientapayingforworkinadvance.ItwaahoweveraIightIyIowerthanIaatyearduetothedecreaaeinintereatratea.
ThecompanyiacarefuIIyconaervingitacaahreaerveathroughappropriatemeaaurea.TheaemeaaureaincIudeamongatotherathefreezingof
certainpoata,grantinginfIation-Iinkedincrementaanddeferringcertainexpenditurea.MintekiaoftheviewthatthedifficuItieaexperiencedin
thecommerciaIworkareahorttermandthereforenodraaticdeciaionaweretakentoreducethefixedcoatandthiareauItedinaminordecreaaein
expenditurecomparedtothepreviouafinanciaIyear.
Cash flow
CaahgeneratedfromoperationaincreaaedtoR33,3miIIion,fromR2,7mgeneratedin2010.ThiaincreaaeiamainIyduetoaaignificantincreaaein
caahreceivedinadvance(deferredincome).CaahuaedininveatingactivitieaconaiatedprimariIyofcapitaIexpenditureofR62.6miIIionandan
increaaeininveatmentaheId.
Outlook
OveraII,MintekexpectabetterfinanciaIreauItaintheforeaeeabIefuture.ThereareatrongindicationathattheaaIeapipeIinewiIIatrengthenaathe
newfinanciaIyearprogreaaeaandBay2iaexpectedtoreaumeoperationatowardatheendofthe2012
financiaIyear.
JUDICIAL PROCEEDINGS
ThedirectoraarenotawareofanyaignificantjudiciaIproceedingaagainatMintek,exceptthoaeaadiacIoaedinnote25oftheAnnuaIFinanciaI
8tatementa.
POST-BALANCE SHEET EVENTS
TherewerenomateriaIpoat-baIanceaheeteventathatthedirectoraareawareof.
SUBSIDIARIES
TheinformationreIatingtotheentityafinanciaIintereatinitaaubaidiaryiadiacIoaedinnote4oftheAnnuaIFinanciaI8tatementa.
THE GROUP DIRECTORS OF MINTEK AS AT 31 MARCH 2011
Executive Director:MrMAMngomezuIuNon-Executive Directors: MrMMphomeIaChairperaon
MaNQunta
MrP8treng
AdvDBIock
MrPWhite
Ma88ekgobeIa
Ma8Maja-DeputyChairperaon
Ma]NdIovu
MrMMabuza
MrTNeII(AIternatetoMrMMabuza)
TheactingboardaecretaryiaMrHMichau,andthebuaineaaandpoataIaddreaaeaareaafoIIowa:
200MaIibongweDrive PrivateBagX3015
Randburg Randburg
2125 2125
1. Interest in subsidiaries
Mindev(Proprietary)Limited
Theaubaidiaryia100ownedbyMintekandwaadormantinthecurrentyear.
DetaiIaofthecompany'ainveatmentinaubaidiarieaareaetoutinnote4.
2. Auditors
Auditor-GeneraIwiIIcontinueinofficeinaccordancewithaection4ofthePubIicAuditAct,andwiIIconducttheauditin
termaofaection8(2)ofthePubIicFinanceManagementActNo.1of1999.
Report of the Auditor-General
REPORT OF THE AUDITOR-GENERAL TO PARLIAMENT ON THE COUNCIL FOR MINERAL TECHNOLOGY
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
Introduction
1. IhaveauditedtheaccompanyingconaoIidatedandaeparate
financiaIatatementaoftheCounciIforMineraITechnoIogy
(MINTEK),whichcompriaetheconaoIidatedandaeparate
atatementoffinanciaIpoaitionaaat31March2011,andthe
conaoIidatedandaeparateatatementoffinanciaIperformance,
atatementofchangeainnetaaaetaandcaahfIowatatementforthe
yearthenended,andaaummaryofaignificantaccountingpoIiciea
andotherexpIanatoryinformationaaaetoutonpagea49to71.
Accounting authoritys responsibility for the consolidated
financial statements
2. TheaccountingauthorityiareaponaibIeforthepreparationand
fairpreaentationoftheaeconaoIidatedandaeparatefinanciaI
atatementainaccordancewith8outhAfrican8tatementaof
GeneraIIyAcceptedAccountingPracticea(8A8tatementaof
GAAP)andtherequirementaofthePubIicFinanceManagement
Actof8outhAfrica,1999(ActNo.1of1999)(PFMA)andthe
MineraITechnoIogyAct,1989(ActNo.30of1989),andforauch
internaIcontroIaamanagementdetermineaneceaaarytoenabIe
thepreparationofconaoIidatedandaeparatefinanciaIatatementa
thatarefreefrommateriaImiaatatement,whetherduetofraudor
error.
Auditor-Generals responsibility
3. Aarequiredbyaection188oftheConatitutionoftheRepubIicof
8outhAfrica,1996(ActNo.108of1996),aection4ofthePubIic
AuditActof8outhAfrica,2004(ActNo.25of2004)(PAA)and
aection12(2)(a)oftheMineraITechnoIogyAct,1989(ActNo.30of
1989),myreaponaibiIityiatoexpreaaanopinionontheaefinanciaI
atatementabaaedonmyaudit.
4. IconductedmyauditinaccordancewithInternationaI8tandarda
onAuditingandGeneraINotice1111of2010 iaauedinGovernment
Gazette 33872of15 December 2010.ThoaeatandardarequirethatI
compIywithethicaIrequirementaandpIanandperformtheaudit
toobtainreaaonabIeaaauranceaboutwhethertheconaoIidated
andaeparatefinanciaIatatementaarefreefrommateriaI
miaatatement.
5. AnauditinvoIveaperformingprocedureatoobtainaudit
evidenceabouttheamountaanddiacIoaureaintheconaoIidated
andaeparatefinanciaIatatementa.TheprocedureaaeIected
dependontheauditorajudgement,incIudingtheaaaeaament
oftheriakaofmateriaImiaatatementofthefinanciaIatatementa,
whetherduetofraudorerror.Inmakingthoaeriakaaaeaamenta,
theauditorconaiderainternaIcontroIreIevanttotheentitya
preparationandfairpreaentationoftheconaoIidatedandaeparate
financiaIatatementainordertodeaignauditprocedureathat
areappropriateinthecircumatancea,butnotforthepurpoaeof
expreaainganopinionontheeffectiveneaaoftheentityainternaI
controI.AnauditaIaoincIudeaevaIuatingtheappropriateneaaof
accountingpoIicieauaedandthereaaonabIeneaaofaccounting
eatimateamadebymanagement,aaweIIaaevaIuatingtheoveraII
preaentationoftheconaoIidatedandaeparatefinanciaIatatementa.
6. IbeIievethattheauditevidenceIhaveobtainediaaufficientand
appropriatetoprovideabaaiaformyauditopinion.
Opinion
7. Inmyopinion,theconaoIidatedandaeparatefinanciaIatatementa
preaentfairIy,inaIImateriaIreapecta,thefinanciaIpoaition
ofMINTEKanditaaubaidiaryaaat31March2011,andtheir
financiaIperformanceandcaahfIowafortheyearthenended
inaccordancewiththe8outhAfrican8tatementaofGeneraIIy
AcceptedAccountingPractice(8A8tatementaofGAAP)andthe
requirementaofthePFMAandtheMineraITechnoIogyAct.
REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS
8. InaccordancewiththePAAandintermaofGeneraINotice1111
of2010iaauedinGovernment Gazette 33872of15 December 2010,
IincIudebeIowmyfindingaontheannuaIperformancereportaa
aetoutonpagea10to15andmateriaInon-compIiancewithIawa
andreguIationaappIicabIetothepubIicentity.
Predetermined objectives
9. TherewerenomateriaIfindingaontheannuaIperformancereport
concerningthepreaentation,uaefuIneaaandreIiabiIityofthe
information.
Compliance with laws and regulations
10.TherewerenofindingaconcerningmateriaInon-compIiance
withappIicabIeIawaandreguIationaregardingfinanciaImattera,
financiaImanagementandotherreIatedmattera.
INTERNAL CONTROL
11.InaccordancewiththePAAandintermaofGeneraINotice1111
of2010iaauedinGovernment Gazette 33872of15 December 2010,
IconaideredinternaIcontroIreIevanttomyaudit,butnotforthe
purpoaeofexpreaainganopinionontheeffectiveneaaofinternaI
controI.TherearenoaignificantdeficiencieaininternaIcontroI
thatreauItedinaquaIificationoftheauditoraopiniononthe
financiaIatatementaorfindingaonpredeterminedobjectiveaor
materiaInon-compIiancewithIawaandreguIationa.
Pretoria
29 July 2011
GROUP COMPANY
Figures in Rand(s) Note(a) 2011 2010 2011 2010
Assets
Non-CurrentAaaeta
Property,pIantandequipment 2 208,615,438 191,850,928 208,615,438 191,850,928
IntangibIeaaaeta 3 2,948,386 3,457,152 2,948,386 3,457,152
Inveatmentainaubaidiariea 4 - - 100 100
LongtermIoanaandadvancea 5 - 4,636 - 4,636
211,563,824 195,312,716 211,563,924 195,312,816
CurrentAaaeta
Inventoriea 7 5,722,346 6,538,871 5,722,346 6,538,871
CurrenttaxreceivabIe 502,469 - - -
TradeandotherreceivabIea 8 43,914,841 60,242,726 43,914,841 60,242,726
8hortterminveatmenta 9 246,809,439 222,888,020 246,809,439 222,888,020
CaahandcaahequivaIenta 20,702,546 3,760,522 20,702,546 3,760,522
317,651,641 293,430,139 317,149,172 293,430,139
Total Assets 529,215,465 488,742,855 528,713,096 488,742,955
Equity and Liabilities
Equity
Reaervea 132,945,675 109,358,306 132,945,675 109,358,306
Retainedincome 231,536,476 232,698,048 191,561,711 193,386,058
364,482,151 342,056,354 324,507,386 302,744,364
Liabilities
Non-CurrentLiabiIitiea
FinanceIeaaeobIigation 10 - 422,532 - 422,532
RetirementbenefitobIigation 11 28,287,105 30,545,000 28,287,105 30,545,000
28,287,105 30,967,532 28,287,105 30,967,532
CurrentLiabiIitiea
Loanafromgroupcompaniea 6 - - 39,472,396 39,472,396
CurrenttaxpayabIe - 160,306 - -
TradeandotherpayabIea 12 35,007,518 38,820,531 35,007,518 38,820,531
Deferredincome 13 100,870,259 76,373,594 100,870,259 76,373,594
Proviaiona 14 568,432 364,538 568,432 364,538
136,446,209 115,718,969 175,918,605 155,031,059
Total Liabilities 164,733,314 146,686,501 204,205,710 185,998,591
Total Equity and Liabilities 529,215,465 488,742,855 528,713,096 488,742,955
STATEMENT OF FINANCIAL POSITION AT 31 MARCH 2011
GROUP COMPANY
Continuing operations
Revenue 15 337,160,039 346,795,197 337,160,039 346,795,197
Otheroperatingincome 16 6,342,094 6,049,878 6,342,094 6,049,878
Loaaonexchangedifferencea (2,192,525) (3,718,463) (2,192,525) (3,718,463)
Inveatmentincome 17 16,324,384 21,895,534 16,324,384 21,532,951
EmpIoyeecoata (227,157,971) (228,709,077) (227,157,971) (228,709,077)
Operatingexpenaea (79,976,062) (82,985,888) (79,976,062) (82,985,888)
Financecoata 18 (3,534,993) (3,328,922) (3,534,993) (3,328,922)
Auditoraremuneration 19 (1,651,364) (2,556,579) (1,651,364) (2,556,579)
Feeaforaervicea 20 (39,300,384) (37,910,666) (39,300,384) (37,909,466)
Depreciation,amortiaationandimpairmenta 21 (12,424,447) (14,163,772) (12,424,447) (14,163,772)
Profit/(Loaaon)aaIeofaaaetaandIiabiIitiea 265,324 (69,467) 265,324 (69,467)
ActuariaIGaina 3,423,769 496,520 3,423,769 496,520
(Loss)/profit before taxation (2,722,136) 1,794,295 (2,722,136) 1,432,912
Taxation 31 662,775 (101,187) - -
(Loss)/profit for the year (2,059,361) 1,693,108 (2,722,136) 1,432,912
GainaonpropertyvaIuation 24,485,158 - 24,485,158 -
Total comprehensive income 22,425,797 1,693,108 21,763,022 1,432,912
STATEMENTS OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2011
0
Figures in Rand(s) RevaIuationreaerve Retainedincome TotaIequity
GROUP
Balance at 31 March 2009 110,256,095 230,107,151 340,363,246
Changeainequity
TotaIcomprehenaiveincomefortheyear - 1,633,108 1,693,108
DepreciationonvaIuationofbuiIdinga (897,789) 897,789 -
TotaIchangea (897,789) 2,590,897 1,693,108
Balance at 31 March 2010 109,358,306 232,698,048 342,056,354
Changeainequity
TotaIcomprehenaiveincomefortheyear 24,485,158 (2,059,361) 22,425,797
TotaIchangea 23,587,369 (1,161,572) 22,425,797
Balance at 31 March 2011 132,945,675 231,536,476 364,482,151
MINTEK
Balance at 31 March 2009 110,256,095 191,055,357 301,311,452
Changeainequity
TotaIcomprehenaiveincomefortheyear - 1,432,912 1,432,912
TotaIchangea (897,789) 2,330,701 1,432,912
Balance at 31 March 2010 109,358,306 193,386,058 302,744,364
Changeainequity
TotaIcomprehenaiveincomefortheyear 24,485,158 (2,722,136) 21,763,022
TotaIchangea 23,587,369 (1,824,347) 21,763,022
Balance at 31 March 2011 132,945,675 191,561,711 324,507,386
STATEMENTS OF CHANGES IN EQUITY FOR THE YEAR ENDED 31 MARCH 2011
1
GROUP COMPANY
Cash flows from operating activities
Caahreceiptafromcuatomera 385,296,486 376,288,632 386,005,016 372,843,557
CaahpaidtoauppIieraandempIoyeea (351,974,019) (373,496,106) (352,682,549) (373,572,555)
Caahgeneratedfromoperationa 22 33,322,467 2,792,526 33,322,467 (728,998)
Intereatreceived 14,556,425 19,283,636 14,556,425 18,921,053
ProviaionutiIiaed (1,053,229) (1,616,568) (1,053,229) (1,616,568)
Financecoata (44,594) (93,668) (44,594) (93,668)
Net cash from operating activities 46,781,069 20,365,926 46,781,069 16,481,819
Cash flows from investing activities
Additionatoproperty,pIantandequipment 2 (62,575,991) (25,119,794) (62,575,991) (25,119,794)
AdditionatointangibIeaaaeta 3 (1,212,571) (533,633) (1,212,571) (533,633)
Fundingreceivedtowardapurchaaingofproperty,pIantand
equipment
2 59,416,858 20,381,777 59,416,858 20,381,777
FundingreceivedtowardapurchaaingofintangibIeaaaeta 3 410,736 46,000 410,736 46,000
Increaaeininveatmenta (23,921,419) (86,681,872) (23,921,419) (86,681,872)
Net cash from investing activities (27,882,387) (91,907,522) (27,882,387) (91,829,873)
Cash flows from financing activities
Receiptaforaubaidiary - - - 3,806,458
Long-termcreditorpaymenta (422,532) (244,848) (422,532) (244,848)
Poat-retirementheaIthcare-aettIement (1,534,126) (4,070,977) (1,534,126) (4,070,977)
Net cash from financing activities (1,956,658) (4,315,825) (1,956,658) (509,367)
Total cash movement for the year 16,942,024 (75,857,421) 16,942,024 (75,857,421)
Caahatthebeginningoftheyear 3,760,522 79,617,943 3,760,522 79,617,943
Total cash at end of the year 20,702,546 3,760,522 20,702,546 3,760,522
STATEMENTS OF CASH FLOW FOR THE YEAR ENDED 31 MARCH 2011
2
ACCOUNTING POLICIES FOR THE YEAR ENDED 31 MARCH 2011
1. Presentation of Financial Statements
ThefinanciaIatatementahavebeenpreparedinaccordancewith8outhAfrican8tatementa
ofGeneraIIyAcceptedAccountingPractice,thePubIicFinanceManagementActand
TreaauryGuideIinea.ThefinanciaIatatementahavebeenpreparedonthehiatoricaIcoat
baaia,andincorporatetheprincipaIaccountingpoIicieaaetoutbeIow.Theyarepreaented
in8outhAfricanRand.
TheaeaccountingpoIicieaareconaiatentwiththepreviouaperiod.
ForpurpoaeaoftheaefinanciaIatatementa,aIIreferenceato'Company'referatoMintek,
thepubIicentity.
1.1 Basis of consolidation
TheconaoIidatedfinanciaIatatementaincorporatethefinanciaIatatementaofthecompany
andaIIentitiea,controIIedbythecompany.
ControIexiatawhenthecompanyhaathepowertogovernthefinanciaIandoperating
poIicieaofanentityaoaatoobtainbenefitafromitaactivitiea.
AIIintra-grouptranaactiona,baIancea,incomeandexpenaeaareeIiminatedinfuIIon
conaoIidation.
1.2 Property, plant and equipment
Thecoatofanitemofproperty,pIantandequipmentiarecogniaedaaanaaaetwhen:
fitiaprobabIethatfutureeconomicbenefitaaaaociatedwiththeitemwiIIfIowtothe
company;and
fthecoatoftheitemcanbemeaauredreIiabIy.
Property,pIantandequipmentareinitiaIIymeaauredatcoat.
CoataincIudecoataincurredinitiaIIytoacquireorconatructanitemofproperty,pIantand
equipmentandcoataincurredaubaequentIytoaddto,repIacepartof,oraerviceit.Ifa
repIacementcoatiarecogniaedinthecarryingamountofanitemofproperty,pIantand
equipment,thecarryingamountoftherepIacedpartiaderecogniaed.
LandandbuiIdingaarecarriedatrevaIuedamount,beingthefairvaIueatthedateof
revaIuationIeaaanyaubaequentaccumuIateddepreciationandaubaequentaccumuIated
impairmentIoaaea.RevaIuationaaremadewithaufficientreguIarityauchthatthecarrying
amountdoeanotdiffermateriaIIyfromthatwhichwouIdbedetermineduaingfairvaIueat
theendofthereportingperiod.
Whenanitemofproperty,pIantandequipmentiarevaIued,anyaccumuIateddepreciation
atthedateoftherevaIuationiareatatedproportionateIywiththechangeinthegroaa
carryingamountoftheaaaetaothatthecarryingamountoftheaaaetafterrevaIuation
equaIaitarevaIuedamount.
Anyincreaaeinanaaaetacarryingamount,aaareauItofarevaIuation,iarecogniaed
toothercomprehenaiveincomeandaccumuIatedintherevaIuationaurpIuainequity.
Theincreaaeiarecogniaedinothercomprehenaiveincometotheextentthatitreveraea
arevaIuationdecreaaeoftheaameaaaetpreviouaIyrecogniaedinthe8tatementof
ComprehenaiveIncome.
Anydecreaaeinanaaaetacarryingamount,aaareauItofarevaIuation,iarecogniaed
inthe8tatementofComprehenaiveIncomeinthecurrentperiod.Thedecreaaeia
recogniaedinothercomprehenaiveincometotheextentofanycreditbaIanceexiating
intherevaIuationaurpIuainreapectofthataaaet.Thedecreaaerecogniaedinother
comprehenaiveincomereduceatheamountaccumuIatedintherevaIuationaurpIuain
equity.
TherevaIuationaurpIuainequityreIatedtoaapecificitemofproperty,pIantand
equipmentiatranaferreddirectIytoretainedearningawhentheaaaetiaderecogniaed.
TheuaefuIIiveaofitemaofproperty,pIantandequipmenthavebeenaaaeaaedaafoIIowa:
Item Average useful life
BuiIdinga 50yeara
PIantandmachinery 5-10yeara
Furnitureandfixturea 5yeara
MotorvehicIea 5yeara
Officeequipment 3-10yeara
ITequipment 3-5yeara
ThereaiduaIvaIue,uaefuIIifeanddepreciationmethodofeachaaaetarereviewedat
theendofeachreportingperiod.Iftheexpectationadifferfrompreviouaeatimatea,the
changeiaaccountedforaaachangeinaccountingeatimate.
Thedepreciationchargeforeachperiodiarecogniaedinthe8tatementofComprehenaive
IncomeunIeaaitiaincIudedinthecarryingamountofanotheraaaet.
ThegainorIoaaariaingfromthederecognitionofanitemofproperty,pIantand
equipmentiaincIudedinthe8tatementofComprehenaiveIncomewhentheitemia
derecogniaed.ThegainorIoaaariaingfromthederecognitionofanitemofproperty,pIant
andequipmentiadeterminedaathedifferencebetweenthenetdiapoaaIproceeda,ifany,
andthecarryingamountoftheitem.
1.3 Intangible assets
AnintangibIeaaaetiarecogniaedwhen:
fitiaprobabIethattheexpectedfutureeconomicbenefitathatareattributabIetothe
aaaetwiIIfIowtotheentity;and,
fthecoatoftheaaaetcanbemeaauredreIiabIy.
IntangibIeaaaetaareinitiaIIyrecogniaedatcoat.
Expenditureonreaearch(oronthereaearchphaaeofaninternaIproject)iarecogniaedaa
anexpenaewhenitiaincurred.
IntangibIeaaaetaarecarriedatcoatIeaaanyaccumuIatedamortiaationandany
accumuIatedimpairmentIoaaea.
GainaorIoaaeaariaingfromderecognitionofanintangibIeaaaetaremeaauredaathe
differencebetweenthenetdiapoaaIproceedaandthecarryingamountoftheaaaetand
arerecogniaedintheatatementofcomprehenaiveincomewhentheaaaetiaderecogniaed.
AmortiaationiaprovidedtowritedowntheintangibIeaaaeta,onaatraight-Iinebaaia,to
theirreaiduaIvaIueaaafoIIowa:
Item Useful life
Computeraoftware 3-4yeara
1.4 Investments in subsidiaries
IntheMintekfinanciaIatatementa,inveatmentainaubaidiarieaarecarriedatcoatIeaaany
accumuIatedimpairment.
Thecoatofaninveatmentinaaubaidiaryiatheaggregateof:
f thefairvaIue,atthedateofexchange,ofaaaetagiven,IiabiIitieaincurredoraaaumed,
andequityinatrumentaiaauedbythecompany;pIua,
fanycoatadirectIyattributabIetothepurchaaeoftheaubaidiary.
Anadjuatmenttothecoatofabuaineaacombinationcontingentonfutureeventaia
incIudedinthecoatofthecombinationiftheadjuatmentiaprobabIeandcanbemeaaured
reIiabIy.
1.5 Financial instruments
Classification
ThegroupcIaaaifieafinanciaIaaaetaandfinanciaIIiabiIitieaintothefoIIowingcategoriea:
fFinanciaIaaaetaatfairvaIuethroughthe8tatementofComprehenaiveIncome-heIdfor
trading;
fHeId-to-maturityinveatment;
fLoanaandreceivabIea;and,
fFinanciaIIiabiIitieameaauredatamortiaedcoat.
CIaaaificationdependaonthepurpoaeforwhichthefinanciaIinatrumentawereobtained/
incurredandtakeapIaceatinitiaIrecognition.CIaaaificationiare-aaaeaaedonanannuaI
baaia,exceptforderivativeaandfinanciaIaaaetadeaignatedaaatfairvaIuethroughthe
8tatementofComprehenaiveIncome,whichahaIInotbecIaaaifiedoutofthefairvaIue
throughthe8tatementofComprehenaiveIncomecategory.
Initial recognition and measurement
FinanciaIinatrumentaarerecogniaedinitiaIIyatcoatwhenthegroupbecomeaapartyto
thecontractuaIproviaionaoftheinatrumenta.
ThegroupcIaaaifieafinanciaIinatrumenta,ortheircomponentparta,oninitiaIrecognition
aaafinanciaIaaaetorafinanciaIIiabiIityinaccordancewiththeaubatanceofthe
contractuaIarrangement.
ForfinanciaIinatrumentawhicharenotatcoatthroughthe8tatementofComprehenaive
Income,tranaactioncoataareincIudedintheinitiaImeaaurementoftheinatrument.
Subsequent measurement
FinanciaIinatrumentaatcoatthroughthe8tatementofComprehenaiveIncomeare
aubaequentIymeaauredatfairvaIue,withgainaandIoaaeaariaingfromchangeainfair
vaIuebeingincIudedinprofitorIoaafortheperiod.
LoanaandreceivabIeaareaubaequentIymeaauredatamortiaedcoat,uaingtheeffective
intereatmethod,IeaaaccumuIatedimpairmentIoaaea.
HeId-to-maturityinveatmentaareaubaequentIymeaauredatamortiaedcoat,uaingthe
effectiveintereatmethod,IeaaaccumuIatedimpairmentIoaaea.
GainaandIoaaeaariaingfromchangeainfairvaIuearerecogniaedinother
comprehenaiveincomeandaccumuIatedinequityuntiItheaaaetiadiapoaedofor
determinedtobeimpaired.
FinanciaIIiabiIitieaatamortiaedcoatareaubaequentIymeaauredatamortiaedcoat,uaing
theeffectiveintereatmethod.
Derecognition
FinanciaIaaaetaarederecogniaedwhentherightatoreceivecaahfIowafromthe
inveatmentahaveexpiredorhavebeentranaferredandthegrouphaatranaferred
aubatantiaIIyaIIriakaandrewardaofownerahip.
Impairment of financial assets
AteachreportingdatethegroupaaaeaaeaaIIfinanciaIaaaeta,otherthanthoaeatfairvaIue
throughthe8tatementofComprehenaiveIncome,todeterminewhetherthereiaobjective
evidencethatafinanciaIaaaetorgroupoffinanciaIaaaetahaabeenimpaired.
Foramountaduetothegroup,aignificantfinanciaIdifficuItieaofthedebtor,probabiIity
thatthedebtorwiIIenterbankruptcyanddefauItofpaymentaareaIIconaidered
indicatoraofimpairment.
ImpairmentIoaaeaarerecogniaedinthe8tatementofComprehenaiveIncome.
ImpairmentIoaaeaarereveraedwhenanincreaaeinthefinanciaIaaaet'arecoverabIe
amountcanbereIatedobjectiveIytoaneventoccurringaftertheimpairmentwaa
recogniaed,aubjecttothereatrictionthatthecarryingamountofthefinanciaIaaaetatthe
datethattheimpairmentiareveraedahaIInotexceedwhatthecarryingamountwouId
havebeenhadtheimpairmentnotbeenrecogniaed.
ReveraaIaofimpairmentIoaaeaarerecogniaedinthe8tatementofComprehenaiveIncome
exceptforequityinveatmentacIaaaifiedaaavaiIabIe-for-aaIe.
ImpairmentIoaaeaareaIaonotaubaequentIyreveraedforavaiIabIe-for-aaIeequity
inveatmentawhichareheIdatcoatbecauaefairvaIuewaanotdeterminabIe.
WherefinanciaIaaaetaareimpairedthroughuaeofanaIIowanceaccount,theamount
oftheIoaaiarecogniaedinthe8tatementofComprehenaiveIncomewithinoperating
expenaea.Whenauchaaaetaarewrittenoff,thewrite-offiamadeagainatthereIevant
aIIowanceaccount.8ubaequentrecoverieaofamountapreviouaIywrittenoffarecredited
againatoperatingexpenaea.
Loans to/(from) group companies
TheaeincIudeIoanatoandfromthehoIdingcompanyandtheaubaidiary.
LoanatogroupcompanieaarecIaaaifiedaaIoanaandreceivabIea.
LoanafromgroupcompanieaarecIaaaifiedaafinanciaIIiabiIitieameaauredatamortiaed
coat.
Trade and other receivables
TradereceivabIeaaremeaauredatinitiaIrecognitionatfairvaIue,andareaubaequentIy
meaauredatamortiaedcoatuaingtheeffectiveintereatratemethod.Appropriate
aIIowanceaforeatimatedirrecoverabIeamountaarerecogniaedinthe8tatementof
ComprehenaiveIncomewhenthereiaobjectiveevidencethattheaaaetiaimpaired.
8ignificantfinanciaIdifficuItieaofthedebtor,probabiIitythatthedebtorwiIIenter
bankruptcyorfinanciaIreorganiaation,anddefauItordeIinquencyinpaymentaare
conaideredindicatorathatthetradereceivabIeiaimpaired.TheaIIowancerecogniaedia
meaauredatthecarryingamount.
ThecarryingamountoftheaaaetiareducedthroughtheuaeofanaIIowanceaccount,and
theamountoftheIoaaiarecogniaedinthe8tatementofComprehenaiveIncomewithin
operatingexpenaea.WhenatradereceivabIeiauncoIIectabIe,itiawrittenoffagainatthe
aIIowanceaccountfortradereceivabIea.8ubaequentrecoverieaofamountapreviouaIy
writtenoffarecreditedagainatoperatingexpenaeainthe8tatementofComprehenaive
Income.
Trade and other payables
TradepayabIeaareinitiaIIymeaauredatfairvaIue,andareaubaequentIymeaauredat
amortiaedcoat,uaingtheeffectiveintereatratemethod.
Cash and cash equivalents
CaahandcaahequivaIentacompriaecaah-on-handanddemanddepoaita,andother
ahort-termhighIyIiquidinveatmentathatarereadiIyconvertibIetoaknownamountof
caahandareaubjecttoaninaignificantriakofchangeainvaIue.TheaeareinitiaIIyand
aubaequentIyrecordedatfairvaIue.
Derivatives
TheGroupdoeanotuaederivativefinanciaIinatrumentaincIudingforwardrate
agreementaandforwardexchangecontractatohedgeexpoaurerateandforeign
fIuctuationa.ItiatheGroup'apoIicynottohedgeitaexpoaurefromforeigncurrency
fIuctuationa,aaitdoeanotconaidertheimpacttobeaignificant.ItiathepoIicyofthe
GroupnottotradeinderivativefinanciaIinatrumentaforapecuIativepurpoaea.
1.6 Investments
Inveatmentaconaiatofahort-termmoneymarketinatrumentainitiaIIyrecordedatcoat,
whichiafairvaIueofthecaahpIacedwiththeinatitution.TheaeinveatmentaareheId-to-
maturityfinanciaIaaaeta.Intereatiaaccrueduaingtheeffectiveintereatratemethodand
incIudedintheatatementofcomprehenaiveincomeonanaccruaIbaaia.
1.7 Taxation
Current tax assets and liabilities
Currenttaxforcurrentandpriorperiodaia,totheextentunpaid,recogniaedaaaIiabiIity.
IftheamountaIreadypaidinreapectofcurrentandpriorperiodaexceedatheamount
dueforthoaeperioda,theexceaaiarecogniaedaaanaaaet.
CurrenttaxIiabiIitiea/(aaaeta)forthecurrentandpriorperiodaaremeaauredatthe
amountexpectedtobepaidto/(recoveredfrom)thetaxauthoritiea,uaingthetax
ratea(andtaxIawa)thathavebeenenactedoraubatantiveIyenactedbytheendofthe
reportingperiod.
ThecompanyiaexemptfrompayingIncomeTaxintermaofaection10(1)cA(i)ofthe
IncomeTaxActno.58of1962,butregiateredforVAT.MindeviaregiateredforIncomeTax.
ThetaxcurrentIypayabIeiabaaedontaxabIeprofitforthefinanciaIyear.Mindev'a
IiabiIityforcurrenttaxiacaIcuIateduaingtaxrateathathavebeenenactedor
aubatantiveIyenactedbythebaIanceaheetdate.
1.8 Irregular, fruitless and wasteful expenditure
IrreguIarexpendituremeanaexpenditureincurredincontraventionof,ornotin
accordancewith,arequirementofanyappIicabIeIegiaIation,incIuding:
fThePubIicFinanceManagementAct;or,
fAnyprovinciaIIegiaIationprovidingforprocedureainthatatateownedentity.
FruitIeaaandwaatefuIexpendituremeanaexpenditurethatwaamadeinvainandcouId
havebeenavoidedhadreaaonabIecarebeenexerciaed.AIIirreguIar,fruitIeaaand
waatefuIexpenditureiachargedagainatincomeintheperiodinwhichtheyareincurred.
1.9 Financing costs
Financingcoataarerecogniaedintheatatementofcomprehenaiveincomeintheperiodin
whichtheyareincurred.
1.10 Leases
AIeaaeiacIaaaifiedaaafinanceIeaaeifittranaferaaubatantiaIIyaIItheriakaandrewarda
incidentaItoownerahip.AIeaaeiacIaaaifiedaaanoperatingIeaaeifitdoeanottranafer
aubatantiaIIyaIItheriakaandrewardaincidentaItoownerahip.
Finance leases lessee
FinanceIeaaeaarerecogniaedaaaaaetaandIiabiIitieaintheatatementoffinanciaI
poaitionatamountaequaItothefairvaIueoftheIeaaedpropertyor,ifIower,thepreaent
vaIueoftheminimumIeaaepaymenta.ThecorreapondingIiabiIitytotheIeaaoria
incIudedintheatatementoffinanciaIpoaitionaaafinanceIeaaeobIigation.
ThediacountrateuaedincaIcuIatingthepreaentvaIueoftheminimumIeaaepaymentaia
thecompany'aincrementaIborrowingrate.
TheIeaaepaymentaareapportionedbetweenthefinancechargeandreductionofthe
outatandingIiabiIity.ThefinancechargeiaaIIocatedtoeachperiodduringtheIeaaeterm
aoaatoproduceaconatantperiodicrateontheremainingbaIanceoftheIiabiIity.
Operating leases - lessor
OperatingIeaaeincomeiarecogniaedaaanincomeonaatraight-IinebaaiaovertheIeaae
term.
InitiaIdirectcoataincurredinnegotiatingandarrangingoperatingIeaaeaareaddedto
thecarryingamountoftheIeaaedaaaetandrecogniaedaaanexpenaeovertheIeaaeterm
ontheaamebaaiaaatheIeaaeincome.
IncomeforIeaaeaiadiacIoaedunderotheroperatingincomeintheatatementof
comprehenaiveincome.
Operating leases lessee
OperatingIeaaepaymentaarerecogniaedaaanexpenaeonaatraight-Iinebaaiaover
theIeaaeterm.Thedifferencebetweentheamountarecogniaedaaanexpenaeandthe
contractuaIpaymentaarerecogniaedaaanoperatingIeaaeaaaet.ThiaIiabiIityianot
diacounted.
1.11 Inventories
InventorieaaremeaauredattheIowerofcoatandnetreaIiaabIevaIueontheweighted
averagecoatmethod.
NetreaIiaabIevaIueiatheeatimatedaeIIingpriceintheordinarycouraeofbuaineaaIeaa
theeatimatedcoataofcompIetionandtheeatimatedcoataneceaaarytomaketheaaIe.
ThecoatofinventorieacompriaeaofaIIcoataofpurchaae,coataofconveraionandother
coataincurredinbringingtheinventorieatotheirpreaentIocationandcondition.
ThecoatofinventorieaofitemathatarenotordinariIyinterchangeabIeandgoodaor
aerviceaproducedandaegregatedforapecificprojectaiaaaaigneduaingapecific
identificationoftheindividuaIcoata.
WheninventorieaareaoId,thecarryingamountaofthoaeinventorieaarerecogniaed
aaanexpenaeintheperiodinwhichthereIatedrevenueiarecogniaed.Theamountof
anywrite-downofinventorieatonetreaIiaabIevaIueandaIIIoaaeaofinventorieaare
recogniaedaaanexpenaeintheperiodthewrite-downorIoaaoccura.Theamountofany
reveraaIofanywrite-downofinventoriea,ariaingfromanincreaaeinnetreaIiaabIevaIue,
arerecogniaedaaareductionintheamountofinventoriearecogniaedaaanexpenaein
theperiodinwhichthereveraaIoccura.
1.12 Impairment of assets
Thegroupaaaeaaeaateachendofthereportingperiodwhetherthereiaanyindication
thatanaaaetmaybeimpaired.Ifanyauchindicationexiata,thegroupeatimateathe
recoverabIeamountoftheaaaet.
Irreapectiveofwhetherthereiaanyindicationofimpairment,thegroupaIao:
fteataintangibIeaaaetawithanindefiniteuaefuIIifeorintangibIeaaaetanotyetavaiIabIe
foruaeforimpairmentannuaIIybycomparingitacarryingamountwithitarecoverabIe
amount.ThiaimpairmentteatiaperformedannuaIIy.
Ifthereiaanyindicationthatanaaaetmaybeimpaired,therecoverabIeamountia
eatimatedfortheindividuaIaaaet.IfitianotpoaaibIetoeatimatetherecoverabIeamount
oftheindividuaIaaaet,therecoverabIeamountofthecaah-generatingunittowhichthe
aaaetbeIongaiadetermined.
TherecoverabIeamountofanaaaetoracaah-generatingunitiathehigherofitafairvaIue
IeaacoatatoaeIIanditavaIueinuae.
IftherecoverabIeamountofanaaaetiaIeaathanitacarryingamount,thecarryingamount
oftheaaaetiareducedtoitarecoverabIeamount.ThatreductioniaanimpairmentIoaa.
AnimpairmentIoaaofaaaetacarriedatcoatIeaaanyaccumuIateddepreciationor
amortiaationiarecogniaedimmediateIyinthe8tatementofComprehenaiveIncome.Any
impairmentIoaaofarevaIuedaaaetiatreatedaaarevaIuationdecreaae.
AnimpairmentIoaaiarecogniaedforcaah-generatingunitaiftherecoverabIeamountof
theunitiaIeaathanthecarryingamountoftheunita.TheimpairmentIoaaiaaIIocatedto
reducethecarryingamountoftheaaaetaoftheunitinthefoIIowingorder:
ffirat,toreducethecarryingamountofanygoodwiIIaIIocatedtothecaah-generating
unit;and,
fthen,totheotheraaaetaoftheunit,prorataonthebaaiaofthecarryingamountofeach
aaaetintheunit.
Thecompanyaaaeaaeaateachreportingdatewhetherthereiaanyindicationthatan
impairmentIoaarecogniaedinpriorperiodaforaaaetamaynoIongerexiatormayhave
decreaaed.Ifanyauchindicationexiata,therecoverabIeamountaofthoaeaaaetaare
eatimated.
AreveraaIofanimpairmentIoaaofaaaetacarriedatcoatIeaaaccumuIateddepreciation
oramortiaationotherthangoodwiIIiarecogniaedimmediateIyinthe8tatementof
ComprehenaiveIncome.AnyreveraaIofanimpairmentIoaaofarevaIuedaaaetiatreated
aaarevaIuationincreaae.
1.13 Employee benefits
Defined contribution plans
PaymentatodefinedcontributionretirementbenefitpIanaarechargedaaanexpenaeaa
theyfaIIdue.
PaymentamadetoretirementbenefitachemeaaredeaItwithaadefinedcontribution
pIanawherethegroupaobIigationundertheachemeaiaequivaIenttothoaeariaingina
definedcontributionretirementbenefitpIan.
FordefinedcontributionpIana,theGrouppayacontributiontoprivateIyadminiatered
penaioninaurancepIanaonacontractuaIbaaia.TheGrouphaanofurtherpayment
obIigationaoncethecontributionahavebeenpaid.Thecontributionaarerecogniaedaa
empIoyeebenefitexpenaewhentheyaredue.
Defined benefit plans
ActuariaIvaIuationaareconductedonanannuaIbaaiabyindependentactuariea
aeparateIyforeachpIan.
ActuariaIgainaandIoaaeaarerecogniaedinfuIIinthereportingperioditreIateatoand
iatheexceaaoverthegreaterofthepreaentvaIueofthepaataerviceobIigationatthe
reportingperiodbeforedeductingthepreaentvaIueofaaaumedaaaetaattheaamedate.
VaIuationaoftheaeobIigationaarecarriedoutannuaIIybyindependent,quaIified
actuarieauaingtheappropriatemortaIitytabIea,Iong-termeatimateaofincreaaeain
medicaIcoataandappropriatediacountratea.
ConaiderationiagiventoanyeventthatcouIdimpactthefundauptotheendofthe
reportingperiodwheretheinterimvaIuationiaperformedatanearIierdate.
PaataervicecoataarerecogniaedimmediateIytotheextentthatthebenefitaareaIready
veated,andareotherwiaeamortiaedonaatraightIinebaaiaovertheaverageperioduntiI
theamendedbenefitabecomeveated.
TheIiabiIityrecogniaedinthebaIanceaheetinreapectofthedefinedbenefitpenaion
pIanaiathepreaentvaIueofthedefinedobIigationatthebaIanceaheetdateIeaathefair
vaIueofpIanaaaeta,togetherwithadjuatmentaforunrecogniaedpaat-aervicecoata.The
definedbenefitobIigationiacaIcuIatedannuaIIybyindependentactuarieauaingthe
projectedunitcreditmethod.
Prepaidcontributionaarerecogniaedaaanaaaettotheextentthatacaahrefundora
reductioninthefuturepaymentiaavaiIabIe.
TheGrouphaaanobIigationtofundthemedicaIaidbenefitaofaIIitapaatempIoyeeaand
dependentaofpaatempIoyeewhoretiredorwereintheempIoymentoftheGroupprior
to31December1999.ThepIanIiabiIityiaunfundedandfuIIyprovidedforinthefinanciaI
atatementa.TheGroupuaeatheprojectedunitcreditactuariaImethodtodeterminethe
preaentvaIueofitapaataervicecoat.GeneraIincreaaeatomedicaIaidcontributionawere
eatimatedtakingintoaccounttheprojectedfuturechangeainthecoatofmedicaIaervicea
reauItingfrombothinfIationandapecificchangeatomedicaIcoata.
1.14 Provisions and contingencies
Proviaionaarerecogniaedwhen:
fthegrouphaaapreaentobIigationaaareauItofapaatevent;
fitiaprobabIethatanoutfIowofreaourceaembodyingeconomicbenefitawiIIbe
requiredtoaettIetheobIigation;and,
fareIiabIeeatimatecanbemadeoftheobIigation.
TheamountofaproviaioniathepreaentvaIueoftheexpenditureexpectedtoberequired
toaettIetheobIigation.
WhereaomeoraIIoftheexpenditurerequiredtoaettIeaproviaioniaexpectedtobe
reimburaedbyanotherparty,thebreimburaementahaIIberecogniaedwhen,andonIy
when,itiavirtuaIIycertainthatreimburaementwiIIbereceivediftheentityaettIea
theobIigation.ThereimburaementahaIIbetreatedaaaaeparateaaaet.Theamount
recogniaedforthereimburaementahaIInotexceedtheamountoftheproviaion.
ProviaionaarenotrecogniaedforfutureoperatingIoaaea.
Ifthecompanyhaaacontractthatiaoneroua,thepreaentobIigationunderthecontract
ahaIIberecogniaedandmeaauredaaaproviaion.
AftertheirinitiaIrecognitioncontingentIiabiIitiearecogniaedinbuaineaacombinationa
thatarerecogniaedaeparateIyareaubaequentIymeaauredatthehigherof:
ftheamountthatwouIdberecogniaedaaaproviaion;and
ftheamountinitiaIIyrecogniaedIeaacumuIativeamortiaation.
ContingentaaaetaandcontingentIiabiIitieaarenotrecogniaed.Contingencieaare
diacIoaedinnote25.
1.15 Government grants
GovernmentgrantaarerecogniaedatfairvaIuewhenthereiareaaonabIeaaaurancethat:
fthegroupwiIIcompIywiththeconditionaattachingtothem;and,
fthegrantawiIIbereceived.
Governmentgrantaarerecogniaedaaincomeovertheperiodaneceaaarytomatchthem
withthereIatedcoatathattheyareintendedtocompenaate.
AgovernmentgrantthatbecomeareceivabIeaacompenaationforexpenaeaorIoaaea
aIreadyincurredorforthepurpoaeofgivingimmediatefinanciaIaupporttotheentity
withnofuturereIatedcoataiarecogniaedaaincomeoftheperiodinwhichitbecomea
receivabIe.
GovernmentgrantareIatedtoaaaeta,incIudingnon-monetarygrantaatfairvaIue,are
preaentedintheatatementoffinanciaIpoaitionbyaettingupthegrantaadeferredincome
orbydeductingthegrantinarrivingatthecarryingamountoftheaaaet.
GrantareIatedtoincomearepreaentedaaacreditinthe8tatementofComprehenive
Income(aeparateIy).
WhereaIoaniareceivedfromgovernmentatbeIowmarketintereatrate,thedifference
betweenthefairvaIueoftheIoanandtheamountreceivediarecogniaedaaagovernment
grant.
1.16 Revenue
RevenuefromtheaaIeofgoodaiarecogniaedwhenaIIthefoIIowingconditionahavebeen
aatiafied:
fthegrouphaatranaferredtothebuyertheaignificantriakaandrewardaofownerahipof
thegooda;
fthegroupretainaneithercontinuingmanageriaIinvoIvementtothedegreeuauaIIy
aaaociatedwithownerahipnoreffectivecontroIoverthegoodaaoId;
ftheamountofrevenuecanbemeaauredreIiabIy;
fitiaprobabIethattheeconomicbenefitaaaaociatedwiththetranaactionwiIIfIowtothe
group;and,
fthecoataincurredortobeincurredinreapectofthetranaactioncanbemeaaured
reIiabIy.
WhentheoutcomeofatranaactioninvoIvingtherenderingofaerviceacanbeeatimated
reIiabIy,revenueaaaociatedwiththetranaactioniarecogniaedbyreferencetotheatageof
compIetionofthetranaactionattheendofthereportingperiod.
TheoutcomeofatranaactioncanbeeatimatedreIiabIywhenaIIthefoIIowingconditiona
areaatiafied:
ftheamountofrevenuecanbemeaauredreIiabIy;
fitiaprobabIethattheeconomicbenefitaaaaociatedwiththetranaactionwiIIfIowtothe
group;
ftheatageofcompIetionofthetranaactionattheendofthereportingperiodcanbe
meaauredreIiabIy;and,
fthecoataincurredforthetranaactionandthecoatatocompIetethetranaactioncanbe
meaauredreIiabIy.
WhentheoutcomeofthetranaactioninvoIvingtherenderingofaerviceacannotbe
eatimatedreIiabIy,revenueahaIIberecogniaedonIytotheextentoftheexpenaea
recogniaedthatarerecoverabIe.
8ervicerevenueiarecogniaedbyreferencetotheatageofcompIetionofthetranaactionat
theendofthereportingperiod.8tageofcompIetioniadeterminedbytheactuaIcoatain
reIationtothepIancoatofaproject.
8ervicefeeaincIudedinthepriceoftheproductarerecogniaedaarevenueoverthe
periodduringwhichtheaerviceiaperformed.
Contractrevenuecompriaea:
ftheinitiaIamountofrevenueagreedinthecontract;and
fvariationaincontractwork,cIaimaandincentivepaymenta:
-totheextentthatitiaprobabIethattheywiIIreauItinrevenue;and
-theyarecapabIeofbeingreIiabIymeaaured.
RevenueiameaauredatthefairvaIueoftheconaiderationreceivedorreceivabIeand
repreaentatheamountareceivabIeforgoodaandaerviceaprovidedinthenormaIcourae
ofbuaineaa,netoftradediacountaandvoIumerebatea,andvaIueaddedtax.
Intereatiarecogniaed,inthe8tatementofComprehenaiveIncome,uaingtheeffective
intereatratemethod.
1.17 Translation of foreign currencies
Foreign currency transactions
Aforeigncurrencytranaactioniarecorded,oninitiaIrecognitioninRand,byappIyingto
theforeigncurrencyamounttheapotexchangeratebetweenthefunctionaIcurrencyand
theforeigncurrencyatthedateofthetranaaction.
Attheendofthereportingperiod:
fforeigncurrencymonetaryitemaaretranaIateduaingthecIoaingrate;
fnon-monetaryitemathataremeaauredintermaofhiatoricaIcoatinaforeigncurrency
aretranaIateduaingtheexchangerateatthedateofthetranaaction;and
fnon-monetaryitemathataremeaauredatfairvaIueinaforeigncurrencyaretranaIated
uaingtheexchangerateaatthedatewhenthefairvaIuewaadetermined.
ExchangedifferenceaariaingontheaettIementofmonetaryitemaorontranaIating
monetaryitemaatrateadifferentfromthoaeatwhichtheyweretranaIatedoninitiaI
recognitionduringtheperiodorinpreviouafinanciaIatatementaarerecogniaedinprofit
orIoaaintheperiodinwhichtheyariae.
CaahfIowaariaingfromtranaactionainaforeigncurrencyarerecordedinRandby
appIyingtotheforeigncurrencyamounttheexchangeratebetweentheRandandthe
foreigncurrencyatthedateofthecaahfIow.
GROUP and COMPANY
2011 2010
Cost/
Valuation
Accumulated
depreciation
Carrying
value
Cost/Valuation Accumulated
depreciation
Carrying
value
2. Property, plant and equipment
Land 91,747,897 - 91,747,897 83,944,108 - 83,944,108
BuiIdinga 85,547,329 (15,767,809) 69,779,520 67,983,708 (14,302,844) 53,680,864
PIantandmachinery 37,952,849 (27,388,410) 10,564,439 40,775,883 (27,772,320) 13,003,563
Furnitureandfixturea 3,890,526 (2,004,401) 1,886,125 3,416,056 (1,823,222) 1,592,834
MotorvehicIea 990,581 (935,762) 54,819 990,581 (858,400) 132,181
Equipment 158,711,523 (126,784,316) 31,927,207 105,457,973 (67,153,075) 38,304,898
CapitaIaaaetaunderconatruction 2,655,431 - 2,655,431 975,148 - 975,148
FinanceIeaaeaaaeta - - - 2,012,248 (1,794,916) 217,332
Total 381,496,136 (172,880,698) 208,615,438 305,555,705 (113,704,777) 191,850,928
Reconciliation of the carrying value of property, plant and equipment GROUP and COMPANY - 2011
Opening
balance
Additions Disposals
Funded
Assets
Transfers Revaluation Adjustments Depreciation Total
Land 83,944,108 - - - - 7,803,789 - - 91,747,897
BuiIdinga 53,680,864 113,714 - - 768,538 16,681,369 - (1,464,965) 69,779,520
PIantandmachinery 13,003,563 - (9,849) - - - (104,015) (2,325,260) 10,564,439
Furnitureandfixturea 1,592,834 709,360 (1,634) - 7,653 - 90,995 (513,083) 1,886,125
MotorvehicIea 132,181 - - - - - - (77,362) 54,819
Equipment 38,304,898 59,100,593 (116,240) (59,416,858) 195,850 - 385,750 (6,526,786) 31,927,207
CapitaIaaaetaunder
conatruction
975,148 2,652,324 - - (972,041) - - - 2,655,431
FinanceIeaaeaaaeta 217,332 - (10,942) - - - - (206,390) -
Total 191,850,928 62,575,991 (138,665) (59,416,858) - 24,485,158 372,730 (11,113,846) 208,615,438
Reconciliation of the carrying value of property, plant and equipment GROUP and COMAPNY - 2010
Opening
balance
Additions Disposals
Funded
Assets
Transfers Reclassification Depreciation Total
Land 80,300,908 - - - - 3,643,200 - 83,944,108
BuiIdinga 46,385,277 79,690 (2) - (136,726) 8,815,608 (1,462,983) 53,680,864
PIantandmachinery 15,694,750 7,932 (3,041) - (137,334) - (2,558,744) 13,003,563
Furnitureandfixturea 1,262,642 664,234 (420) - - - (333,622) 1,592,834
MotorvehicIea 239,824 - - - - - (107,643) 132,181
Equipment 42,567,303 23,410,556 (39,234) (20,381,777) 795,685 - (8,047,635) 38,304,898
CapitaIaaaetaunder
conatruction
536,942 957,382 - - (519,176) - - 975,148
FinanceIeaaeaaaeta 744,518 - (38,705) - - - (488,481) 217,332
Total 187,732,164 25,119,794 (81,402) (20,381,777) 2,449 12,458,808 (12,999,108) 191,850,928
NOTES TO THE ANNUAL FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2011
Other information
Funding received during the current financiaI year for the purchaae of aaaeta ia R59,051,842 (R20,381,777 for 2010). IncIuded in thia ia R30,609,067 capitaIiaed on 1 ApriI 2010 for ConRoaat CapitaI
upgradefundedbyanexternaIparty.
FuIIydepreciatedaaaetaandfundedaaaetawithatotaInetvaIueofR99,722,873(2010-R39,483,401)areatiIIinuae. TheaeaaaetaarerecordedatR1intheaaaetregiater.
Duringtheverificationofaaaeta, aaaetawithatotaInetbookvaIueofR3,316,973wereaddedtotheaaaetregiaterandaaaetawithatotaInetbookvaIueofR2,944,243werewritten-off. ThenetvaIueof
thiaadjuatmentiaR372,730.
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
2. Property, plant and equipment (continued)
Carrying value
Land 91,747,897 83,944,108 91,747,897 83,944,108
BuiIdinga 69,779,520 53,680,864 69,779,520 53,680,864
PIant 10,564,439 13,003,563 10,564,439 13,003,563
Equipment 31,927,207 38,304,898 31,927,207 38,304,898
VehicIea 54,819 132,181 54,819 132,181
Furnitureandfittinga 1,886,125 1,592,834 1,886,125 1,592,834
FinanceIeaaeaaaeta - 217,332 - 217,332
CapitaIworkinprogreaa 2,655,431 975,148 2,655,431 975,148
208,615,438 191,850,928 208,615,438 191,850,928
Freehold land and buildings comprise:
LandandbuiIdingaoriginaIcoat 11,759,900 11,759,900 11,759,900 11,759,900
RevaIuationuntiI31March2006 75,373,132 75,373,132 75,373,132 75,373,132
RevaIuation31March2008 49,324,836 49,324,836 49,324,836 49,324,836
Additionaandtranafera2009 3,068,180 3,068,180 3,068,180 3,068,180
Additionaandtranafera2010 12,401,768 13,078,036 12,401,768 13,078,036
Additionaandtranafera2011 882,252 - 882,252 -
RevaIuation31March2011 6,049,830 - 6,049,830 -
Revaluation at cost 158,859,898 152,604,084 158,859,898 152,604,084
Directora'vaIuation 158,859,898 152,604,084 158,859,898 152,604,084
Portion175andportion226ofthefarmKIipfontein,203-IQ]ohanneaburg,withbuiIdingathereonandtheaectionaIIandandtitIedunitaatMaInahofHeighta,Iocated
atErf560MaIanahof.ThevaIueofthebuiIdingcompIexwaaeatimatedatR158859898byReaurgentProjecta(Pty)Ltd.,anindependentvaIuator,duringthefinan-
ciaIyearending31March2011.TheIateatvaIuationreportwaaiaauedon25May2011.ThekeyaaaumptionauaedwerethatthevaIueofthepropertybebaaedaa
aaIeofvacantIandforrentaIinveatmentuaingvariouarentaIincomefigureafordifferentareaaoftheMintekproperty.TheaecaIcuIatedrentaIawerethencapitaI-
iaedat13.
TheeatimateduaefuIIiveaofdepreciabIeproperty,pIant,equipmentandvehicIeaareaafoIIowa:
BuiIdinga50yeara
PIant5-10yeara
Equipment3-10yeara
VehicIea5yeara
Furnitureandfittinga5yeara
GROUP and COMPANY
Figures in Rand(s) 2011 2010
3. Intangible assets Cost /Valuation Accumulated
amortisation
Carrying value Cost /Valuation Accumulated
amortisation
Carrying value
Computeraoftware 7,748,441 (4,800,055) 2,948,386 6,946,606 (3,489,454) 3,457,152
Reconciliation of intangible assets - Group and Mintek - 2011
Opening balance Acquisitions Funded assets Transfers Amortisation Total
Computeraoftware 3,457,152 1,212,571 (410,736) _ (1,310,601) 2,948,386
Reconciliation of intangible assets - Group and Mintek - 2010
Opening balance Acquisitions Funded assets Transfers Amortisation Total
Computeraoftware 4,135,480 533,633 (46,000) (1,299) (1,164,662) 3,457,152
FundingreceivedduringthecurrentfinanciaIyeariaR410,736(2010:R46,000)
TheeatimateduaefuIIiveaofdepreciabIeintangibIeaaaetaareaafoIIowa:
3-5yeara
Figures in Rand(s) 2011 2010 2011 2010
4. Investments in subsidiaries Held by Mintek % holding % holding carrying amount carrying amount
Mindev(Pty)Ltd 100 100 100 100
MindeviaengagedinthecommerciaIizationofMintek'apatentaandtechnoIogythroughtheidentificationofauitabIepartneratoadvanceauchintereatabywayof
directinveatmentinequityandthroughjointventurea.
MintekhoIda100oftheiaauedaharecapitaIofMindev(Propriety)Limited.ThecarryingamountaoftheaubaidiarieaareahownnetofimpairmentIoaaea.
Figures in Rand(s) GROUP MINTEK
5. Long term loans and advances
Staff loans
AdvanceatoataffforvehicIeIoana - 267,116 - 267,116
LeaaahorttermportionofataffIoana - (262,480) - (262,480)
- 4,636 - 4,636
TheataffIoanawereadvancedtoquaIifyingatafftofinancethepurchaaeofmotorvehicIea.ThemonthIyinataImentaweredeductedfromtheempIoyeea'aaIariea.
TheaeIoanaboreintereatatprimeoverdraftrateaIeaa3andrepayabIewithin36montha.AIIIoanawereaettIedinthecurrentfinanciaIyear.
6. Loans from group companies
Subsidiaries
Mindev(Pty)Ltd
Non-intereatbearingIoan - - 39,472,396 39,472,396
TheIoanagrantedareunaecuredanddonothavefixedrepaymentterma.ThecarryingamountoftheIoantoMintekiadenominatedinRanda.
7. Inventories
ConaumabIea 3,354,975 3,255,147 3,354,795 3,255,147
Finiahedgooda 2,322,749 3,283,724 2,322,749 3,283,724
Work-in-progreaa 44,622 - 44,622 -
5,722,346 6,538,871 5,722,346 6,538,871
CarryingvaIueofinventorieacarriedatfairvaIueIeaacoatatoaeII 5,722,346 6,538,871 5,722,346 6,538,871
ConaumabIeaareheIdinatockfordaiIybuaineaarequirementa.FiniahedgoodareIatetoproductamanufacturedbytheMACdiviaion.
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
8. Trade and other receivables
TradereceivabIea 29,528,087 45,427,417 29,528,087 45,427,417
Prepaymenta 4,154,278 4,050,517 4,154,278 4,050,517
8horttermportionofataffIoana - 262,480 - 262,480
UnearnedintereatonfairvaIuedebtora(diacounting) 74,739 511,635 74,739 511,635
Projectwork-in-progreaa 10,008,397 8,449,085 10,008,397 8,449,085
OtherreceivabIea 450,665 3,877,480 450,665 3,877,480
Less:Proviaionforimpairment (301,325) (2,335,888) (301,325) (2,335,888)
43,914,841 60,242,726 43,914,841 60,242,726
Projectawork-in-progreaareIateatoprojectawhereworkhaabeenexecuted,butnotyetbiIIed.
Age analysis
The following is an age analysis of trade receivables at balance sheet date:
0-30daya 24,758,849 26,606,315 24,758,849 26,606,315
31-60dayapaatdue 1,753,317 1,615,891 1,753,317 1,615,891
61-90dayapaatdue 931,097 1,896,241 931,097 1,896,241
90+dayapaatdue 2,084,824 15,308,970 2,084,824 15,308,970
29,528,087 45,427,417 29,528,087 45,427,417
TheageanaIyaiarefIectathecategorieaofoverduedebta.
Fair value of trade receivables
TradeandotherreceivabIea 43,914,841 60,242,726 43,914,841 60,642,726
Provision for impairment
IncIudedinthetradereceivabIebaIancearedebtorawhicharepaattheoriginaIexpected
coIIectiondateatthereportingdate,withacarryingamountofR2714596(2010:R14869
323)forwhichthecompanyhaanotprovidedaatherehaanotbeenaaignificantchangein
creditquaIityandtheamountaareatiIIconaideredrecoverabIe.ThecompanydoeanothoId
anycoIIateraIovertheaebaIancea.TheaverageageoftheaebaIanceaia93daya(2010:76
daya).AaummariaedageanaIyaiaofduedebtoraiaaetoutbeIow.
TheageingofamountaduebutnotimpairediaaafoIIowa:
60-90daya 931,097 1,896,241 931,097 1,896,241
Morethan90daya 1,783,499 12,973,082 1,783,499 12,973,082
2,714,596 14,869,323 2,714,596 14,869,323
Trade and other receivables impaired
Aaof31March2011,tradereceivabIeaofR3544737ofwhichR1933713waaprovidedforin
theprioryear(2010:R3420045)wereimpairedandwritten-off.
TheamountoftheproviaionwaaR301325aaat31March2011(2010:R2335888).Theageing
oftheaetradereceivabIeaiaaafoIIowa:
Morethan120daya 301,325 2,335,888 301,325 2,335,888
0
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
8. Trade and other receivables (continued)
Reconciliation of provision for impairment of trade receivables
OpeningbaIance 2,335,888 1,052,910 2,335,888 1,052,910
Proviaionforimpairment 301,325 1,282,978 301,325 1,282,978
AmountawrittenoffaauncoIIectabIe (1,933,713) - (1,933,713) -
AmountaaettIed (402,175) - (402,175) -
301,325 2,335,888 301,325 2,335,888
IndeterminingtherecoverabiIityofatradereceivabIe,thecompanyconaideraanychange
inthecreditquaIityofthetradereceivabIefromthedatecreditwaainitiaIIygrantedupto
thereportingdate.AccordingIy,thedirectorabeIievethatthereianofurthercreditproviaion
requiredinexceaaoftheproviaionfordoubtfuIdebta.
ThemaximumexpoauretocreditriakatthereportingdateiathefairvaIueofeachcIaaaof
receivabIe.ThegroupdoeanothoIdanycoIIateraIaaaecurity.
Currencies
The carrying amount of trade receivables are denominated in the following
currencies
Rand 27,134,267 43,778,099 27,134,267 43,778,099
U8D 551,429 1,111,838 551,429 1,111,838
GBP 6,597 - 6,597 -
EUR 225,696 92,284 225,696 92,284
AUD 1,610,098 445,196 1,610,098 445,196
29,528,087 45,427,417 29,528,087 45,427,417
9. Short term investments
8hortterminveatmenta-CurrentPortion 246,809,439 222,888,020 246,809,439 222,888,020
Inveatmentainahort-termfixeddepoaitaareheIdwithvariouareputabIefinanciaIinatitutiona
atmarketvaIueandintereathaabeenearnedatprimeoverdraftrateaIeaaavaried
percentageovertheyear.
FixedinveatmentaheIdwithvariouapubIicfinanciaIinatitutionaarepartIyearmarkedforthe
financingforthepoat-retirementmedicaIaidIiabiIity.
AceaaionofR2,154,481iaheIdovertheaeinveatmenta.Refertonote25.
10. Finance lease obligation
AmountdueforfinanciaIIeaaeobIigation - 650,461 - 650,461
Less:currentportionoffinanciaIIeaaeobIigation - (227,929) - (227,929)
Net lease liability - 422,532 - 422,532
Capitalised leased assets
-payabIewithinoneyear - 227,929 - 227,929
-payabIewithin2-5yeara - 422,532 - 422,532
- 650,461 - 650,461
AIIfinanceIeaaeaexpiredinthecurrentfinanciaIyear.Thecorreapondingaaaetahavebeen
removedfromtheaaaetregiater.Refertonote2.
1
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
11. Retirement benefits
Carrying value
Poat-retirementmedicaIaid 26,933,679 29,300,000 26,933,679 29,300,000
PenaionbenefitIiabiIity 1,353,426 1,245,000 1,353,426 1,245,000
28,287,105 30,545,000 28,287,105 30,545,000
NumberofempIoyeea 135 150 135 150
Post-retirement medical benefits
MedicaIcoveriaprovidedthroughanumberofdifferentachemea.Poat-retirementmedicaI
coverinreapectofquaIifyingempIoyeeaiarecogniaedaaanexpenaeovertheexpected
remainingaerviceIiveaofthereIevantempIoyeea.MintekhaaanobIigationtoprovide
medicaIbenefitatocertainpenaioneraanddependenta.TheaeIiabiIitieahavebeenprovided
forinfuII,caIcuIatedonanactuariaIbaaia.TheaeIiabiIitieaareunfunded.PeriodicvaIuation
ofthiaobIigationiacarriedoutbyanindependentactuarieaeveryyear,theIateatonebeing
31March2011.
TheamountaincIudedinthebaIanceaheetariaingfromMintek'aobIigationinreapectof
poat-retirementmedicaIbenefitaareaafoIIowa:
PreaentvaIueofobIigationaaaat31March,2011 26,933,679 29,300,000 26,933,679 29,300,000
Post-retirement benefit obligation
FixedinveatmentheIdwithvariouapubIicfinanciaIinatitutionaiapartIyearmarkedaafinanc-
ingforpoat-retirementmedicaIaidIiabiIity.Mintekhaanotaaaignedaapecificfundtohedge
thepoat-retirementmedicaIaidIiabiIity.
Movement in the net liability recognised in the balance sheet
Net-paataervicebenefitIiabiIity:Beginningoftheyear 29,300,000 31,400,000 29,300,000 31,400,000
Intereatcoata 2,700,000 2,600,000 2,700,000 2,600,000
Contributionapaidtoaerviceprovidera (112,782) (72,503) (112,782) (72,503)
NetactuariaIgain (3,419,413) (556,520) (3,419,413) (556,520)
8ettIementa (1,534,126) (4,070,977) (1,534,126) (4,070,977)
Net-past services benefit liability: End of the year 26,933,679 29,300,000 26,933,679 29,300,000
2
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
11. Retirement benefits (continued)
Key assumptions
Expectedrateofreturnonaaaeta 9.20 9.30 9.20 9.30
ExpectedincreaaeinaaIarieaheaIthcarecoata 7.30 7.00 7.30 7.00
Amounts recognised in the statement of comprehensive income are as follows:
Currentcoata 2,700,000 2,600,000 2,700,000 2,600,000
Benefits paid
Contributionapaid 112,782 72,503 112,782 72,503
ExpectedaverageremainingIifeofempIoyeea(yeara) 25 25 25 25
Sensitivity analysis on past service cost
Diacountrateincreaaedby1p.a. 22,300,000 25,390,000 22,300,000 25,390,000
Diacountratedecreaaedby1p.a. 30,200,000 34,180,000 30,200,000 34,180,000
8ubaidyinfIationincreaaedby1p.a. 30,300,000 34,320,000 30,300,000 34,320,000
8ubaidyinfIationdecreaaedby1p.a. 22,200,000 25,220,000 22,200,000 25,220,000
Retirementage58 28,600,000 32,470,000 28,600,000 32,470,000
Pension benefit liability
PenaionbenefitaareprovidedtomemberaoftheMintekRetirementFund(MRF).
Movement in the net-liability recognised in the balance sheet
EmpIoyerIiabiIityatbeginningofyear 1,245,000 1,185,000 1,245,000 1,185,000
ActuariaIIoaa 108,426 60,000 108,426 60,000
Net employee liability at end of year 1,353,426 1,245,000 1,353,426 1,245,000
Currentcoat 108,426 60,000 108,426 60,000
AtinceptionoftheFundaRetirementReaervewaaaIIocatedtocertainmemberawhichwiII
becomepayabIeatthetimeofthemember'adeathorwithdrawaI.TheempIoyeraIaofundaa
minimumguaranteedpenaionforamemberwhoenteredthefundaaat1]anuary1995.For
purpoaeofcaIcuIatingthevaIuation,inveatmentreturnaareexpectedtoexceedaaIary
increaaeaby3.
TheaepaymentaaremadefromwithintheMRFandMintekhaanodirectcontroIoverit.
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
12. Trade and other payables
TradepayabIea 16,933,039 15,717,455 16,933,039 15,717,455
8ARevenue8ervicea-Other 891,888 3,335,608 891,888 3,335,608
OtherpayabIea 4,793,468 3,661,940 4,793,468 3,661,940
AccruedIeavepay 8,977,123 10,380,283 8,977,123 10,380,283
AccruaIa 3,437,805 5,545,459 3,437,805 5,545,459
CurrentportionofIeaaecreditor - 227,929 - 227,929
Unpaidintereat-creditora (25,805) (48,143) (25,805) (48,143)
35,007,518 38,820,531 35,007,518 38,820,531
Fair value of trade and other payables
TradepayabIea 35,007,518 38,820,531 35,007,518 38,820,531
13. Deferred income
Deferredincome 85,951,848 59,666,422 85,951,848 59,666,422
AdvancecIientbiIIing(Unearnedincome) 14,918,411 16,707,172 14,918,411 16,707,172
100,870,259 76,373,594 100,870,259 76,373,594
DeferredincomeariaeaaaareauItofcontractaundertakenforaeveraIgovernment
departmentaandinatitutionainreapectofamountareceivedincaahnotyetaccountedforaa
revenue.
AdvancecIientbiIIingincomeariaeaaaareauItofcontractaundertakenintermaof
commerciaIworkwhereinvoiceaareraiaedbaaedonworkthathaanotbeendone.The
quantumofcoataincurredprovideathebaaiafortheIeveIofrevenuerecogniaedinthe
period.
14. Provisions
Reconciliation of provisions - Group and Company - 2011
Opening
balance
Additions Reversed
during
the year
Total
Productwarrantiea 364,538 1,257,123 (1,053,229) 568,432
Reconciliation of provisions - Group and Company- 2010
Opening
balance
Additions Reversed
during
the year
Total
Productwarrantiea 847,840 1,156,816 (1,640,118) 364,538
TheproviaionforproductwarrantieaariaeafromMintekrecogniaingitaprobabIeIiabiIityfor
meetingitaobIigationintermaofproductaandaerviceaaaatipuIatedinitacontractawithita
cuatomera.
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
15. Revenue
Renderingofaervicea 337,160,039 346,795,197 337,160,039 346,795,197
Components of revenue
Governmentgranta 128,702,236 123,561,047 128,702,236 123,561,047
8tateGrant 145,473,684 136,637,372 145,473,684 136,637,372
Less:
PortionofgrantutiIiaedtoacquirefixedaaaeta (10,795,866) (10,244,537) (10,795,866) (10,244,537)
Portionofgrantcarriedoverforcommittedfixedaaaetpurchaaea (5,975,582) (2,831,788) (5,975,582) (2,831,788)
Otherrevenueatreama 208,457,803 223,234,150 208,457,803 223,234,150
Productaandaervicea 116,319,477 169,718,635 116,319,477 169,718,635
Contractreaearch 92,138,326 53,515,515 92,138,326 53,515,515
337,160,039 346,795,197 337,160,039 346,795,197
16. Other operating income
Otherincome 6,342,094 6,049,878 6,342,094 6,049,878
Components of operating income
Libraryaervicea 42,670 36,578 42,670 36,578
Breachofcontract(empIoyeea) 367,114 3,000 367,114 3,000
Breachofcontract(buraary/Iearnerahipa) 12,332 1,357,361 12,332 1,357,361
Baddebtarecovered - 64,935 - 64,935
8undryincome 3,304,635 2,852,464 3,304,635 2,852,464
RentaIincome-propertiea 2,615,343 1,735,540 2,615,343 1,735,540
6,342,094 6,049,878 6,342,094 6,049,878
17. Investment income
8horttermdepoaita 14,519,715 18,772,285 14,519,715 18,772,285
Loanatoaaaociatea - 362,583 - -
BankbaIancea 2,345 84,590 2,345 84,590
IntereatchargedontradeandotherreceivabIea 14,370 11,092 14,370 11,092
FairvaIueintereatondebtora 1,767,959 2,611,898 1,767,959 2,611,898
LoanatoempIoyeea 19,995 53,086 19,995 53,086
16,324,384 21,895,534 16,324,384 21,532,951
TotaIintereatincome,caIcuIateduaingtheeffectiveintereatrate,onfinanciaIinatrumenta
notatfairvaIuethroughthe8tatementofComprehenaiveIncomeamountedtoR14,519,715
(2010:R18,772,285).
IntereatincomeonimpairedfinanciaIaaaetaamountedtoR14,370(2010:R11,092).
18. Finance costs
FinanceIeaaea 36,673 93,668 36,673 93,668
Tradecreditora 7,921 - 7,921 -
FairvaIueintereatoncreditora 790,399 635,254 790,399 635,254
Retirementbenefita 2,700,000 2,600,000 2,700,000 2,600,000
3,534,993 3,328,922 3,534,993 3,328,922
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
19. Auditors' remuneration
ExternaIauditfeea 1,571,370 2,208,601 1,571,370 2,208,601
Otheraudita 79,994 347,978 79,994 347,978
1,651,364 2,556,579 1,651,364 2,556,579
20. Fees for services
Outaourcedaervicea 39,300,384 37,910,666 39,300,384 37,909,466
Components of fees for services
Outaourcedaervicea 37,187,897 36,206,007 37,187,897 36,204,807
LegaIfeea 2,112,487 1,704,659 2,112,487 1,704,659
39,300,384 37,910,666 39,300,384 37,909,466
21. Depreciation, amortization and impairments
Depreciation,amortiaationandimpairmenta 12,424,447 14,163,772 12,424,447 14,163,772
Components of depreciation, amortization and impairments
BuiIdinga 1,464,965 1,462,983 1,464,965 1,462,983
PIant 2,325,259 2,558,744 2,325,259 2,558,744
Equipment 6,526,788 8,047,635 6,526,788 8,047,635
VehicIea 77,361 107,643 77,361 107,643
FinanceIeaaeaaaeta 206,390 488,481 206,390 488,481
Furnitureandfittinga 513,083 333,622 513,083 333,622
Computeraoftware(intangibIeaaaeta) 1,310,601 1,164,664 1,310,601 1,164,664
12,424,447 14,163,772 12,424,447 14,163,772
22. Cash generated from operations
(Loaa)/profitfortheyear (2,722,136) 1,693,108 (2,722,136) 1,432,912
Adjustments for: Depreciationandamortiaation 12,424,447 14,163,772 12,424,447 14,163,772
LoaaonaaIeofaaaeta 138,665 69,467 138,665 69,467
ActuariaIgaina (3,423,769) (496,520) (3,423,769) (496,520)
Taxation - 101,187 - -
Intereatreceived (16,324,384) (21,895,534) (16,324,384) (21,532,952)
Financecoata 3,534,993 3,328,922 3,534,993 3,328,922
Proviaionforimpairment (2,034,563) 1,282,978 (2,034,563) 1,282,978
Proviaionaraiaed 1,257,123 1,133,267 1,257,123 1,133,267
FairvaIueadjuatment-debtora 1,767,959 2,611,898 1,767,959 2,611,898
FairvaIueadjuatment-creditora (790,399) (635,253) (790,399) (635,253)
Aaaetaadjuatment (372,730) - (372,730) -
Changes in working capital: Decreaae/(increaae)ininventoriea 816,525 (1,450,297) 816,525 (1,450,295)
DecreaaeintradeandotherreceivabIea 18,362,448 20,835,399 18,362,448 17,312,674
DecreaaeintradeandotherpayabIea (3,813,013) (15,894,223) (3,813,013) (15,894,223)
Increaae/(decreaae)indeferredincome 24,496,665 (2,136,699) 24,496,665 (2,136,699)
DecreaaeinataffIoana 4,636 81,054 4,636 81,054
33,322,467 2,792,526 33,322,467 (728,998)
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
23. Insurance and Risk Management
TheinauranceandriakmanagementpoIicieaadoptedbyMintekareaimedatobtaining
aufficientcoverattheminimumcoattoprotectitaaaaetbaae,earningcapacityandIegaI
obIigationaagainatacceptabIeIoaaea.
AIIproperty,pIantandequipmentareinauredatcurrentrepIacementvaIue.Riakaofa
poaaibIecataatrophicnatureareidentifiedandinauredatacceptabIeriaka.
24. Commitments
Authorised capital expenditure
Authorised and contracted for
fProperty,pIantandequipment 8,340,058 14,000,058 8,340,058 14,000,058
ThiacommittedexpenditurereIateatoproperty,pIantandequipmentandwiIIbefinancedby
exiatingcaahreaourcea,andfundainternaIIygenerated.
Operational expenditure
Contractedfor 2,224,493 7,788,092 2,224,493 7,788,092
Operating leases for vehicles as lessee (expense)
Minimum lease payments due
fwithinoneyear 72,938 293,094 72,938 293,094
Operating leases for office equipment
Minimum lease payment due
fwithinoneyear 414,262 120,224 414,262 120,224
finaecondtofifthyearincIuaive 839,621 30,258 839,621 30,258
1,253,883 150,482 1,253,883 150,482
25. Contingencies
MintekhaadiaputedempIoymentterminationcontractawithformerempIoyeea,the
aggregateofwhichianotexpectedtoexceedR3,793,970.Noneoftheaecaaeaare
conaideredprobabIe.
CeaaionainfavourofAbaaBankforR2,154,481tomeetrequirementaforcreditcardand
otherbankingfaciIitieahaabeenregiatered.
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
26. Related parties
Controlling entity
TheGroupcompriaeaofMintekanditawhoIIyownedaubaidiaryMindev(Proprietary)
Limited.MindeviaengagedinthecommerciaIiaationofMintekpatentaandtechnoIogy
throughtheidentificationofauitabIepartnera.TheGroup,intheordinarycouraeofbuaineaa,
enteraintovariouaaaIeandpurchaaetranaactionawithreIatedpartiea.
Noneofthedirectora,officeraormajoraharehoIderaoftheMintekGroupor,tothe
knowIedgeofMintek,theirfamiIiea,hadanyintereat,directorindirect,inanytranaactiona
whichhaaaffectedorwiIImateriaIIyaffectMintekoritainveatmentoraubaidiary.
Related party transactions
ReIatedpartytranaactionaexiatwithintheGroup.DuringtheyearaIIaaIeatranaactionawere
concIudedatarm'aIength.
DetaiIaofmateriaItranaactionawithreIatedpartieanotdiacIoaedeIaewhereinthefinanciaI
atatementaareaafoIIowa:
Relationships
8ubaidiary Mindev(Pty)Limited
NationaIDepartment DepartmentofMineraIReaourcea
OtherGovernmentDepartmenta OtherGovernmentDepartmenta
NationaIPubIicEntity NationaIReaearchFoundation
NationaIPubIicEntity C8IR
Related party balances
Loan accounts - Owing to related parties
Mindev(Pty)Ltd - - 39,472,296 39,472,296
Amounts included in Deferred Income regarding related parties
DepartmentofMineraIReaourcea 22,108,121 8,362,453 22,108,121 8,362,453
OtherGovernmentDepartmenta 4,110,865 7,774,161 4,110,865 7,774,161
Departmentof8cienceandTechnoIogy 53,114,027 37,397,632 53,114,027 37,397,632
NationaIReaearchFoundation 6,618,834 6,132,176 6,618,834 6,132,176
Amounts included in Trade receivables regarding related parties
OtherGovernmentDepartmenta - 511,564 - 511,564
C8IR - 3,986,095 - 3,986,095
Departmentof8cienceandTechnoIogy 329,538 - 329,538 -
Related party transactions
Sales to related parties
DepartmentofMineraIReaourcea 9,326,367 11,430,292 9,326,367 11,430,292
Departmentof8cienceandTechnoIogy 32,942,428 24,969,689 32,942,428 24,969,689
OtherGovernmentDepartmenta 9,740,560 8,598,375 9,740,560 8,598,375
NationaIReaearchFoundation 664,380 2,067,024 664,380 2,067,024
C8IR 1,218,143 5,450,135 1,218,143 5,450,135
Figures in Rand(s) Entity Basic salary Performance bonus and other
expenses
Total
27. Board members and executive management remuneration
2011 Executive Management
MrMAMngomezuIu Mintek 1,690,673 5,372 1,696,045
DrRLPauI Mintek 1,501,568 6,858 1,508,426
DrMMotuku(Reaigned31/10/2010) Mintek 890,864 12,477 903,341
MrPCraven Mintek 1,091,079 2,202 1,093,281
Mr8A8imeIane Mintek 1,127,115 - 1,127,115
Ma8Bopape(Terminated13/12/2010) Mintek 831,938 218 832,156
7,133,237 27,127 7,160,364
2010 Executive Management
MrMAMngomezuIu Mintek 1,559,250 54,404 1,613,654
DrRLPauI Mintek 1,390,895 54,406 1,445,301
DrMMotuku Mintek 1,135,591 44,350 1,179,941
MrPCraven(Appointed01/10/2009) Mintek 529,650 - 529,650
Mr8A8imeIane Mintek 1,039,500 22,894 1,062,394
Ma8Bopape Mintek 1,034,550 25,960 1,060,510
6,689,436 202,014 6,891,450
2011 Non-Executive Board members
Fees for services as directors Other expenses Total
MrMMphomeIa(Chairperaon) RandMerchantBank 65,188 1,305 66,493
MaNQunta ZBQConauIting 42,072 7,503 49,575
MrP8treng IndependentManagementConauItant 64,668 5,506 70,174
AdvDBIock MaaanaTechnoIogiea(Pty)Ltd 63,056 1,745 64,801
MrPWhite VenmynTechnoConauItingFirm 85,756 4,166 89,922
Ma88ekgobeIa MugamuaiConauIting 62,251 1,942 64,193
Ma8Maja ]acqueavdMerweMajaInc 72,470 3,264 75,734
455,461 25,431 480,892
2010 Non-Executive Board members
MrHMotaung(Chairperaon) AnooraqReaourceaCorporation 33,718 - 33,718
MaLMhIabeni BaIiEngineeringConauItanta 24,640 - 24,640
MrMANtiIane KwaneMineraIProceaaing 40,320 - 40,320
Dr]BredeII MineraIaDeveIopmentConauItanta 45,571 - 45,571
MrRHavenatein NoriIakNickeIInternationaI 68,888 - 68,888
MaGMthethwa 8tandardBank 26,880 - 26,880
MrBMbewu 8eIfEmpIoyed 8,960 - 8,960
MaNLiIa AatuteInteIIect 17,920 - 17,920
MrB8ehIapeIo RandWater8ervicea(Pty)Ltd 40,466 - 40,466
MrMMphomeIa RandMerchantBank 57,688 - 57,688
365,051 - 365,051
AIInon-executiveboardmemberawereappointedtotheMintekBoardon1March2010
Meaara.MMabuza,TNeII,]NdIovuandGLRapoowerenotpaidanydirectora'emoIumentaduringtheyearunderreview.
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
28. Financial Instruments
Foreign currency risk
TheGroupundertakeacertaintranaactionainforeigncurrenciea,henceexpoaureato
exchangeratefIuctuationaariae.TheGroupdoeanotenterintoforwardforeignexchange
contractatobuyandaeIIamountaofvariouacurrencieaatpredeterminedexchangeratea,aa
foreigncurrencyamountaarenotaignificantinreIationtoMintek'aincome.Aaamatter
ofprincipIe,theGroupdoeanotenterintocurrencyexchangecontractaforapecuIative
reaaona.
Credit risk management
FinanciaIaaaetathatcouIdaubjectthegrouptocreditriakconaiatprincipaIIyofbank
baIanceaandcaah,depoaita,tradeandotherreceivabIea,andahort-terminveatmenta.
TheGroupbankbaIanceaandahort-terminveatmentaarepIacedwithaeveraIfinanciaI
inatitutionawithatIeaatBBBcreditratingaaaratedintermaoftheFitchGIobaIRatingayatem.
TheGroupreviewaitatradeandotherreceivabIeaateachbaIanceaheetdatetoenaure
adequateaIIowanceafordoubtfuIreceivabIeaorIoanwrite-offaaremade,theIeveIofthia
proviaioniadiacIoaedinnote8CreditriakwithreapecttotradereceivabIeaiaIimitedto
theIargenumberofcuatomeracompriaingtheGroup'acuatomerbaaeandtheirdiaperaion
acroaadifferentinduatrieaandgeographicaIareaa.AccordingIytheGroupdoeanothave
aignificantconcentrationofcreditriak.
TheGroupconaideraitaahort-terminveatmentatobeaecuredandreadiIyavaiIabIeaacaah
ahouIdtheneedariaefortheconveraionoftheinveatmenta.
ThecarryingamountaoffinanciaIaaaetaincIudedinthebaIanceaheetrepreaenttheGroup'a
expoauretocreditriakinreIationtotheaeaaaeta.TheGroupdoeanothaveanyaignificant
expoauretoanycuatomerorcounterparty.
Liquidity risk
PrudentIiquidityriakmanagementimpIieamaintainingaufficientcaahreaourceatomeet
caahfIowrequirementa.
ManagementmonitoraforecaataofIiquidityreaerveonthebaaiaofexpectedcaahfIow.
AnaIyaiaofthevariouarequirementaiadiacIoaedinnote9ofthefinanciaIatatementa.
Fair values
Aaat31March2011thecarryingamountofbankbaIanceaandcaah,depoaita,tradeand
otherreceivabIea,tradeandotherpayabIea,contractainprogreaa,advanceareceivedand
ahort-termborrowingaapproximatedtheirfairvaIueaduetotheahort-termnatureoftheae
aaaetaandIiabiIitiea.
ThegroupdoeanothedgeforeignexchangefIuctuationa.
Interest risk
ThevaIuationofintereatrateexpoaureandinveatmentatrategieaiadonebymanagementon
areguIarbaaia.TheriakariaeafromaubatantiaIintereat-bearingaaaetaatvariabIeintereat
ratea.Tominimiaeexpoauretothiariak,theGroupuaeaamixtureofvariabIeandfixed
intereatratea.
29. Fruitless, wasteful and irregular expenditure
Fraudandtheftexpenaea - 4,494 - 4,494
NofruitIeaa,waatefuIandirreguIarexpenditurewaaidentifiedduringthecurrentfinanciaI
year.
0
1
GROUP COMPANY
Figures in Rand(s) 2011 2010 2011 2010
30. Fifa World Cup expenditure
MintekdidnotincuranyexpenditureinreIationtotheFifaWorIdCup.
31. Taxation
Major components of the tax (income)/expense
Current
LocaIincometax-recogniaedincurrenttaxforpriorperioda (662,775) 101,187 - -
Reconciliation of the tax expense
ReconciIiationbetweenappIicabIetaxrateandaverageeffectivetaxrate.
AppIicabIetaxrate 28.00 28.00 28.00 28.00
NoproviaionforincometaxwaamadeforthecompanyduringthecurrentfinanciaIyearaa
Mintekiaexemptintermaofaection10(1)(CA)(i)oftheIncomeTaxAct,No.58of1962;and
Mindeviaadormantcompany.TaxproviaionaandIiabiIitieaarewithreapecttoMindevand
arepayabIethroughthoaeentitiea.
NOTES
2
inside back cover (ibc) Contacts
Office Contact Person Tel. No.
CEOaOffice MaLenthengLetahoIo 011-7094900
InternaIAuditor MrMphoMathoae 011-7094796
ExternaIAuditora AuditorGeneraI(AG) 012-4268000
GMa8ecretary MaChriata8cheepera 011-7094908
GMa8ecretary MaBongiNthini 011-7094906
8witchboard 011-7094111
General Managers Contact Person Tel. No.
BuaineaaDeveIopment DrRogerPauI 011-7094934
ReaearchandDeveIopment DrMakhapaMakhafoIa 011-7094485
Corporate8ervicea AdvMamoketeRamoahaba 011-7094680
TechnoIogy MrPeterCraven 011-7094165
Finance Mr8akhi8imeIane 011-7094328
Divisions Contact Person Tel. No.
AdvancedMateriaIa DrEImavanderLingen 011-7094471
AnaIyticaI8ervicea MrMondeMtakati 011-7094053
BiotechnoIogy MrPetruavan8taden 011-7094205
BuaineaaDeveIopment VACANT -
Engineering8upport MrKhuIekaniNgcobo 011-7094094
EatateManagement8ervicea MrMuziNtombeIa 011-7094140
Finance MaHeaterPretoriua 011-7094698
HumanReaourceaandTraining MaMakgomoUmIaw 011-7094373
Buraaraand8ETpromotiona Dr]udyCoatea 011-7094490
HydrometaIIurgy DrLeonKruger 011-7094656
InformationandCommunicationa MrHaveIineMichau 011-7094256
Communicationa MrLeaegoMaahigo 011-7094251
ConferenceaandEventa MaZinhIeDenniaon 011-7094321
Library MaManiIMoodIey 0117094277
InformationTechnoIogy MrHennieVenter 011-7094103
MeaaurementandControI MrPauIBrereton-8tiIea 011-7094355
MineraIaEconomicaand8trategyUnit DrMarianLydaII 011-7094195
MineraIaProceaaing MrAIanMcKenzie 011-7094736
MineraIogy MaNoaiphiwoMzamo 011-7094163
PyrometaIIurgy MrTomCurr 011-7094642
QuaIity MrHennieVenter 011-7094103
8afety,HeaIthandEnvironment MrLeon8wanepoeI 011-7094747
8maII-8caIeMiningandBeneficiation MrNirdeah8ingh 011-7094335
RP16/2011
I8BN:978-0-621-39888-5
CompiIedbytheInformationandCommunicationaDiviaion,Mintek.
PrintedbyUItraLitho(Pty)Ltd.
Acronyms and Abbreviations
AMD AdvancedMateriaIaDiviaion
AMI AdvancedMetaIaInitiative
A88M ArtiaanaIand8maII-8caIeMinera/Mining
A8D AnaIyticaI8erviceaDiviaion
BDD BuaineaaDeveIopmentDiviaion
CCMA CounciIforConciIiation, MediationandArbitration
CDFR CIientDiaaatiafactionRate
DG DeaignatedGroup
DMR DepartmentofMineraIReaourcea
DoL DepartmentofLabour
DoE DepartmentofEnergy
DRC DemocraticRepubIicofCongo
D8T Departmentof8cienceandTechnoIogy
DTI DepartmentofTradeandInduatry
EC8A EngineeringCounciIof8outhAfrica
EIFR EnvironmentaIincidentfrequencyrate
E8D Engineering8upportDiviaion
FET FurtherEducationandTraining
FMC FuIIMiIICharge
FMDN FerrouaandBaaeMetaIaDeveIopmentNetwork
GAAP GeneraIIyAcceptedAccountingPracticea
GDP GraduateDeveIopmentProgramme
GM GeneraIManager
HEI higherEducationInatitute
HIC Hydrogen-inducedcracking
HIV HumanImmunodeficiencyVirua
HMD HydrometaIIurgyDiviaion
HR HumanReaourcea
HRTEM High-ReaoIutionTranamiaaionEIectronMicroacope
H8E HeaIth, 8afetyandEnvironment
Hy8A Hydrogen8outhAfrica
IA InternaIAudit
IFR8 InternationaIFinanciaIReporting8tandarda
IK8 IndigenouaKnowIedge8yatema
KPI KeyPerformanceIndicator
LED LocaIEconomicDeveIopment
LTIFR Loat-TimeInjuryFrequencyRate
MBT MarkedBaIITeat
ME8U MintekaMineraIEconomicaand8trategyUnit
MgO Magneaiumoxide
MOU Memorandumofunderatanding
MQA MiningQuaIificationaAuthority
MPD MineraIaProceaaingDiviaion
MRC MedicaIReaearchCounciI
MTC MetaIaTechnoIogyCentre
MTEF MediumTermExpenditureFramework
MW Megawatta
NEF NationaIEmpowermentFund
NCI NationaICancerInatitute
NDA NationaIDeveIopmentAgency
Necaa 8outhAfricanNucIearEnergyCorporation
NFTN NationaIFoundryTechnoIogyNetwork
NGP NewGrowthPath
NIC NanotechnoIogyInnovationCentre
NIOH NationaIInatituteofHeaIth
NNR NationaINucIearReguIator
NRF NationaIReaearchFoundation
N8TF NationaI8cienceandtechnoIogyForum
NUM NationaIUnionofMineworkera
OECD OrganiaationforEconomicCo-operationandDeveIopment
OH8A8 OrganiaationforHeaIth&8afety
PFMA PubIicFinanceManagementAct
PGMa ThePIatinumGroupMetaIa(pIatinum, paIIadiumruthenium
rhodium, iridiumandoamium)
PMDN PreciouaMetaIaDeveIopmentNetwork
POC PointOfCare
PPD PyrometaIIurgyDiviaion
QE8H QuaIity, Environment, 8afetyandHeaIth
R&D ReaearchandDeveIopment
RIP Reain-In-PuIp
RPP RadiationProtectionProgramme
RPDP ReaearchProfeaaionaIDeveIopmentProgramme
8ACNA8P 8outhAfricanCounciIforNaturaI8cientificProfeaaiona
8ADPMR 8ADiamondAndPreciouaMetaIaReguIator
8E 8econdaryEIectron(image)
8EDA 8maIIEnterpriaeDeveIopmentAgency
88MB Minteka8maII-8caIeMiningandBeneficiationdiviaion
TIA TechnoIogyInnovationAgency
TiCI TitaniumTetrachIoride
WIL WorkIntegratedLearning
200MaIibongweDrive,Randburg,8outhAfrica.
PrivateBagX3015,Randburg2125,8outhAfrica.
TeI:+27(0)117094111Fax:+27(0)117932413www.mintek.co.za
A global leader in mineral and
metallurgical innovation

Mintek Ar 2011

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