Nolitha Fakude first woman mining industry president in 131 years

JOHANNESBURG ( – The board members of Minerals Council South Africa on Wednesday elected the first feminine president in 131 years.

New president Nolitha Fakude, a former Minerals Council VP who’s the chairperson of Anglo American South Africa, mentioned she could be specializing in making certain that mining contributes positively to the financial system by being a catalyst for financial progress.

The new VPs are Paul Dunne, CEO of Northam Platinum, Themba Mkhwanazi, CEO of Kumba Iron Ore, and Peter Steenkamp, CEO of Harmony Gold.

In response to Mining Weekly on the difficulty of there being solely 41 mining firms listed on the Johannesburg Stock Exchange (JSE) out of 400 mines owned by 100 teams, Fakude mentioned that itemizing was what “all of us wish to see occur” on an ongoing foundation as a result of it demonstrates a sturdy financial system.

“We do consider, from a mining perspective, that there are buyers who nonetheless have plenty of urge for food for mining funding. Therefore, we do hope that we’ll see extra listings on the JSE coming from the mining sector,” she mentioned.

Mining Weekly had identified that South Africa, which has 80% of world manganese reserves, has solely oblique manganese itemizing on the JSE, and in addition emphasised the help that itemizing offers in highlighting essential environmental, social and governance (ESG) ideas.

“The ESG matter is a vital one,” Fakude added.

Minerals Council CEO Roger Baxter mentioned that one space the place there weren’t numerous listings on the JSE is in the junior mining house.

“That’s as a result of South Africa has principally lagged rather a lot on encouraging listings, notably enterprise capital listings associated to enterprise capital funded exploration, whereas in Canada you’ve acquired over 1 000 listings, in Australia you’ve acquired over 600 listings and we’ve acquired one thing like 12 juniors on the JSE.

“That’s one thing that we hope this exploration plan, which must be revealed pretty quickly, will deal with and be encouraging authorities that they need to take a look at areas like what the Canadians have gotten in place, the flow-through shares dialogue and others, to see how we will get extra enterprise capital funded firms itemizing in the exploration drive, in conjunction with the massive established firms additionally spending extra on exploration,” Baxter added.

The new Minerals Council workplace bearers exchange outgoing president Mxolisi Mgojo, Steve Phiri, Neal Froneman and Zanele Matlala.


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