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E&T Minerals - Madiba's dream is no longer deferred
Pictured (clockwise): Daniel Eyre (General Manager), Fuzile Nondumo (Chief Operations Officer), Joshua Ngulube (Junior Analyst), Moeketsi Mahlaku CA(SA) (Chief Financial Officer), Louis Modau Nkuna (Site Manager), Teddy Weru (Head Strategist), Rolihlahla Sikiti (Head Of Business Development), Michael Ngulube (Head Of HR), Emmanuel Ngulube (Commercial Director), Reshma Moopanar (Chief Compliance Officer) and Mnweba Gobodo (Head Of Legal).
Madiba’s dream
is no longer deferred
A new youth movement is emerging in South Africa’s mining industry. The future is right here, right now and the youth are at the front line, exploring new approaches, new encounters and new challenges as a mark to the continuation of Nelson Mandela’s Rainbow Nation.
In an address to the Chamber of Mines shortly after his election in 1994, Nelson Mandela said this about the South African mining industry: “The mining industry, by virtue of the place it occupies in our economy, is in a position to make a special contribution to the transformation of our society, which should have as its central objective, improving the quality of life of all its citizens.”.
In his speech 27 years ago, former President Nelson Mandela envisioned a new South African identity that is based on the principles of democracy and equality for all. Critics contend that our country's progress has been overshadowed by the challenges of living in a democracy. Madiba’s legacy was set on addressing inequality, job creation and poverty. The coming together of the nation that Nelson Mandela worked so hard for seems to be materialising. The voices are loud and while projecting an inclusive economy, they are demanding change.
E&T Minerals is a South African based commodity brokerage and trading company. The company trades a variety of commodities but has a particular focus on the origination and placement of coal. E&T can be described as a fast-growing company as they always look to combine the resources and support of larger companies, coupled with their innovation, opportunism, and dynamic approach to succeed.
CFO Moeketsi Mahlaku noted: “As recent figures show, E&T Minerals moved more than 500 000 metric tons of coal at a gross revenue in 2020 that broke our corporate records by exceeding all previous years”.
There is still work to be done and with E&T Minerals consisting of a 90% Black and under-35 team, what they have achieved is remarkable, more so in the era of COVID-19.
Founding partners Emmanuel Ngulube and Daniel Eyre bring a deep knowledge of African commodities, logistics and business practices to the firm. Both partners also have a wide network of long-established contacts with key players in the region. The passion to build a strong and sustainable global business is backed by a number of key fundamentals that drive E&T’s competitive advantage.
“E&T is deeply embedded in Southern Africa’s mining investment arena and has an in-depth knowledge of where new opportunities will come from”, said Joshua Ngulube, Junior Analyst. The larger sector of the commodities community particularly appreciates this depth of knowledge as it allows them to plan better for future resources.
E&T Minerals’ portfolio includes a number of listed and non-listed blue-chip companies such as Lengau Group, KPMM, Liviero, Bassani, Mikano Resources and Barberry Group. These blue-chip clients, along with the other companies in E&T’s portfolio, have been very eager to sign medium- to long-term contracts. “E&T is fast-paced, exciting, and collaborative; plus, they give their partners the chance to shape a product, and even the industry,” said General Manager, Daniel Eyre.
Unlike many traders, E&T Minerals is willing to get involved in mineral beneficiation. The team has experience with commodities such as chrome, iron ore, manganese, niobium and antimony, among other valuable commodities. Traders who do not deal directly with this kind of work can only offer limited services. E&T, however, creates greater value for their clients by providing beneficiation solutions.
Head of Legal, Mnweba Gobodo says that E&T Minerals’ key differentiator is that “we create value for our shareholders, our employees, our business and social partners through safe and responsible exploration, mining and marketing of our products. Our primary focus is the origination and placement of coal, and we will pursue value-creating opportunities in other minerals where we can leverage our existing assets, skills and experience to enhance the delivery of value.”
Building sustainable and stable mining operations
E&T believe that to confront the challenges that our country faces, it must identify the issues and develop strategies for action.
“We do so by building sustainable and stable
mining operations through commodity trading, sampling, contract management, management of performance risk, logistics management and infrastructure,” says Head of New Business, Rolihlahla Sikiti.
“E&T Minerals not only raised money from offshore private entities for junior miners in South Africa and back into their business, but it also invested in fashion, art, entertainment and media, agriculture, education and the construction sector, to name but a few”, said Head of HR, Michael Ngulube.
The Orange Economy also known as the Creative Economy, can be defined as the sector that includes the value generated by offering goods and services based on intellectual property (crafts, film, design, publishing, fashion, TV or video games for example). The business advisor John Howkins, developed the concept in 2001
Mnweba Gobodo (Head Of Legal) and Reshma Moopanar (Chief Compli ance Officer).
to explain the impact in the economy that these activities can have.
E&T Minerals wanted to diversify and focus primarily on the youth of South Africa and invested R1.2 million into six small businesses in 2020 through the implementation of bridging finance for companies such as Scout Studios (media company), Pick’d Produce (agricultural delivery service), MCHL (menswear fashion brand), DIPSTREET (street fashion brand) and Blank Space Records (music recording label). With small businesses and entrepreneurs being unable to raise funds from big banks and Government, they sought to bridge the gap for those with a vision to achieve but without the means. The concept of social exclusion was first used in 1974 by René Lenoir, the former Secretary of State of Social Action in France. It was seen as a way to improve the living conditions of people with special needs.
The concept of social exclusion has become more prevalent in modern society. It has also taken on a more elaborate meaning outside France. The challenge of exclusion has become one of the most important issues in African contemporary social debate. Unlike poverty and unemployment, social exclusion is not focused on individuals or households. Instead, it concerns the inability to participate effectively in society.
“E&T Minerals aims to be an example for African and international companies by providing responsible and ethical services while adhering to international best practices”, says Head of Compliance, Reshma Moopanar.
Each transaction is underpinned and strengthened by four key ethical values: reliability, efficiency, excellence and transparency.
The current opportunities that E&T Minerals are involved in are La Brie, Utikomst and LB Mining.
“We are currently identifying growth opportunities and moving into various commodities such as chrome, the ownership
of four mines and marketing for three large commodity mines as the next important items on E&T’s goal list over the next 10 years,” states COO, Fuzile Nondumo.
Community initiatives
The CSR programmes that E&T Minerals focus on are community initiatives as their impact in economic, social and environmental terms is felt greatest at the local level. There is some risk that in undertaking CSR, a dependency on the company will develop. Whether intentional or unintentional, this can have serious consequences for the dependent community, particularly after the mine closes. E&T aims to address its social and environmental responsibilities. Numerous factors have contributed to this, and the extractive industry is key in debates about social and environmental sustainability.
E&T are committed to preserving the planet’s natural resources and ensuring the health and safety of its employees, families and mining communities in which they operate. Over time, E&T Minerals have demonstrated its dedication by practicing sustainability, advocating for volunteerism and promoting philanthropy to make South Africa a better place.
E&T Minerals community upliftment strategy is closely aligned with its business objectives and with its stakeholders’ concerns and interests, aiming to protect and encourage more sustainable and resilient communities.
“Our programme is focused around four principal areas: social inclusion, financial education and life skills, infrastructure refurbishment, and employee engagement,” explains Head Strategist, Teddy Weru.
The company is proud to support organisations and the critical work they are doing that will help our society move forward. E&T, together with AFM Sandton (Church) have partnered to create the Barnabus Foundation, a non-profit organisation which will engage in various social enterprise development initiatives primarily focused on disadvantaged communities. The first initiative kicked off in June 2019, where food parcels and blankets were donated to a local orphanage in Diepsloot. They also continually assist in tuition funding for university students and students at Allen Glen High School, to name but a few of their several educational projects.
Bridging the digital divide
E&T Minerals believe that no one should go without their essential needs being served. The company believe that the 4th Industrial Revolution (4IR) will fundamentally change society, much in the same way that electricity, digital technology and a range of technological developments did during previous industrial revolutions. There is a deep concern about the inequality gap widening as the result of technological advances. The availability of universal high-speed broadband is undoubtedly critical to rural development, and this is especially important to maintain the long-term stability of underserved mining communities. This gave birth to a partnership with Software AG to build a 4IR computer lab and library at Tsiki Naledi Secondary School in Hendrina. The main objective of the project is to provide computers for training to enhance the teaching and learning environment for both instructors and students and provide an opportunity for better performance in examinations and to enhance the students’ skills in computers.
The training will enable youth to become productively engaged and better qualified to excel in their curriculum. There is an urgent need for this form of training, which is usually very expensive. E&R Minerals’ assistance will thus assist underprivileged schools to bridge the digital divide and level the playing field. The computer laboratory will provide a learning environment with access to computer equipment, office applications and the Internet where the youth and young adults can gain the computer skills needed to be successful and to secure better jobs in the future. It will offer new opportunities for mining communities to become computer literate, viable and competitive in the marketplace, develop careers, rise above poverty and contribute to national development.
Young people should not only be educated to live in a democracy, but they should also be given a chance to shape the future of South Africa.
