M.B.A. / The South African economy places great reliance on the gold mining sector, both for employment opportunities and revenue. Due to the increased price volatility of this precious metal in international markets, the economy has been placed under enormous pressure due to the loss of jobs and lower revenues generated, particularly from the country's marginal mines. Through discussions with representatives from the various facets of the mining industry, it has been noted that a large portion of the prospective and existing gold reserves are not being mined. This may be due to the high capital investment required to start-up such an operation and the resultant dividends are not appealing enough to attract the investment. Unrest amongst unionised labour has reduced productivity in the work force and this has further increased the cost of production, placing many South African gold mines in the "red". Historically, gold mines owned all of their own equipment and bore all of the risk. For all this investment, they took all of the profit, or loss from the operation, but this increased cost of capital and risk does not bring along an increased return on investment due to the volatility in both the gold price and the currency exchange rate. The aim of the research report is to establish a framework for conducting a technoeconomic due diligence in identifying a viable alternative to the traditional methods of mining gold in South Africa. The objectives of this dissertation are: To determine the viability of conducting an alternative approach to mining gold in South Africa; To determine if the proposed alternative approach would tolerate a lower gold selling price than the present methods and still remain profitable; To determine the barriers to entry and the pitfalls of mining gold in South Africa.

This research focuses on three elements i.e. employment equity, employee engagement and generation theory and specifically where these elements intersect. The literature found that there were different perceptions of employment equity legislation. In addition, the literature found generational differences with respect to some elements of employee engagement. Limited empirical evidence was found on whether employment equity legislation had an impact on employee engagement. Consequently, three research questions were drawn from the literature reviewed. The research is a quantitative study based on a sample drawn from South African individuals who have completed grade 12 and are currently employed or have an employment history. The sample included employees of a financial services company based in Gauteng and GIBS MBA students. The results showed that there were differing perceptions of employment equity legislation and that the majority of respondents perceived the legislation to be affirmative action. There were no differences in the perception of employment equity legislation between generations. Additional findings were that the perception of employment equity legislation did not enhance employee engagement neither did the perception of the organisations implementation of employment equity legislation enhance employee engagement. Limited generational differences were found in terms of these findings. / Dissertation (MBA)--University of Pretoria, 2014. / zkgibs2015 / Gordon Institute of Business Science (GIBS) / MBA / Unrestricted

M.Phil. (Mineral Economics) / This work is an attempt to discover whether or not South Africa's gold reserves have been properly exploited - has the wealth that has been removed been used to the best advantage. It became apparent to the author whilst conducting feasibility studies on both projected and operating mines that scant attention is paid to the determination of an optimal time path of depletion for a mineral deposit by the planners. The main, if not sole, criterion is the maximising of returns on the capital invested. The thesis proposes a methodology to describe the actual depletion paths achieved by a selection of South African gold mines. The work of mineral economists, especially Harold Hotelling, is used to provide a theoretical base for the. proposals. The mines were selected to cover as wide a range of the exploitation cycle as possible from the planning stage to final abandonment.

References appear at the end of each chapter / The importance of gold in the development of South Africa as an industrialised economy cannot be over - emphasised. Towards the end of the 19th century the economy depended almost entirely on the production of gold and diamonds which laid the foundation for a highly - developed national economy. With gold still continuing to play an important role coupled with the recent price increases, a need was felt to investigate the potential effect of higher prices on gold production in South Africa. For reasons set out in the study, it was decided to compare potential out put for five different gold prices. A gold price received by the mines of 050 per ounce was used as abase. Further calculations were made at 060, 070, 0100 and 0150 per ounce. The calculations for all the cases were done duri ng the period when the Rand was floating with the Pound Sterling and a Rand : Dollar parity of 1:1, 2 4 was used. Since then two parity changes occured : the Rand was pegged to the Dollar on the 25th October, 1972 to give a Rand : Dollar parity of 1:1,27732, and the Dollar was devalued on the 13th February, 1973 by 1 1,1 % to give the present Rand : Dollar parity of 1:1, 4192. The e ffect of the above two parity changes is that revenue in Dollar terms is overstated by 14,45 5%. It is suggested that for purposes of this study the Rand figures be accepted and wherever Dollars are used in future estimates these be increased by the afore-mentioned 14, 455%. In Dollar terms the five Cases analised will change as follows: Case A : 5350 becomes 057, 23 per ounce Case B : 260 becomes 068, 67 per ounce Case C : 270 becomes 080,12 per ounce Case D : 0100 becomes 0114 ,46 per ounce Case E : 0150 becomes 0171, 68 per ounce To do an in-depth investigation into the effects of higher gold prices on each individual mine, it was necessary to analyse the various parameters required in the determination of gold p r oduction, revenue, lease and tax payments , and dividends. For each mine the pay limits at the various gold prices and at estimated working cost levels, were determined . Graphs of the estimated tonnages at various pay limits as well as the average grade of ore mineable at these limits were determined. From these graphs it is possible to obtain the total tonnage mi neable at various pay limits. Once the foregoing parameters were obtained for each mine, it was possible to determine annual gold production, revenue, lease and tax payments and amounts available to share holders which are then summarised in tables and illustrated in graphs. For ease of reference the mines were divided up into geographica l areas. Gold production revenue, lease and tax payments to the State and the amounts available to shareholders are summarised and compared for the various gold prices. The summaries show bold production remaining fairly constant at or just below the present level of about 900 000 kilograms per year until 1978 for Case A, 1979 for Cases B and C, 1983 for Case D, and 1984 for Case E. before declining progressively thereafter. Revenue following the same pattern as gold production for Case A , as is to be expected, but increasing to a peak of R1 466 million in 1977 for Case B before progressively declining, increasing to a peak of R2 434 million in 1982 for Case D before progressively declining, increasing to a peak of R3 478 million in 1983 for Case E but remaining above the 1973 level of R1 254 million until the year 2005. Lease and tax payments and amounts available to share-holders following the same pattern as that indicated by revenue reaching peaks of respectively R390 million and R268 million for Case B R485 million and R339 million for Case C R756 million and R536 million for Case D R1 000 million and R779 million for Case E. Following the recent monetary unrest, gold prices assumed for 1973 are too conservative. Should the present gold price of about $80 and the 1972 level of production of 909 000 kilograms continue for the remainder of 1973, then gold production, revenue, lease and tax payments and dividends as shown for Case C for the year 1975 will be applicable for 1973. This shams gold production of 919 520 kilograms, gold revenue of R 1690 million, lease and tax payments of R465 million, and dividends of R339 million. The effect of the higher gold price can be clearly seen when the fore-going figures are compared with the 1971 totals of gold production of 97 6,600 kilogr ams , revenue of R396 million from gold, lease and tax payments of approximately R139 million, and dividends of R142 million . Despite a decline in gold production, revenue is expected to be up by 8 9 % whilst lease and tax payments increase by 2 35% compared with a dividend increase of 139%. Finally certain tax concessions to increase productivity and the rebuy alleviate the labour shortage, prolong the li ves of the mines by mining lower grade ore, and encourage exploration was investigated and suggestions made. / Business Management / D. Com.

M.Com. (Business Management) / Please refer to full text to view abstract

A research report submitted to the Faculty of Science, University of the Witwatersrand in fulfilment of the requirements for the degree of Master of Science, Johannesburg, August, 2014. / Efflorescent minerals are a common feature of the soil surface in seasonal environments where evapotranspiration (ET) exceeds precipitation (P), and are formed by the evaporation of salt solutions from the soil during periods of drying. On the Highveld gold fields, ET exceeds rainfall by approximately two-and-a-half times during the dry season, and soils overlying acid mine drainage and along polluted stream banks can become covered by distinctively coloured mineral efflorescent crusts. Whereas some efflorescent minerals are relatively insoluble and present a negligible environmental hazard (for example, gypsum), others may be readily soluble and contain high concentrations of potentially toxic metals (for example, copiapite, jarosite and uranyl sulphate). During periods of rainfall, such salts are washed further afield and into surface water bodies and act as sources of episodic pollution. The presence of some efflorescent minerals can be detected from their characteristic reflectance signatures using remote-sensing (RS) of the electromagnetic spectrum. The species of efflorescent minerals present is a useful indication of the spatial extent of sub-surface contamination, and also of the chemical conditions of the substrate, in particular the concentration of total dissolved solids, pH and redox conditions. The aim of this study was therefore to assess the use of remote-sensing on indicator efflorescent minerals as a cost-effective aid in the spatial mapping of acid rock-drainage polluted soils and water-bodies. This study describes the range of efflorescent crusts identified on different land-use areas and soil classes in a Highveld gold-mining region. Crusts were first measured in-situ under natural sunlight using a portable analytical spectral radiometer (ASD) as well as using X-ray diffraction (XRD). They were then dissolved in deionized water and the resulting salt solutions allowed to evaporate prior to analysis under controlled lighting conditions. Spectra were post-processed and compared with iv geological spectral reference libraries. The salt solutions were also analyzed for metal and sulphate content and the results were used to establish evaporation models from which mineral precipitation could be predicted. Minerals identified in the visible near-infra red (VNIR) region included iron oxides (hematite and goethite), and the sulphate mineral jarosite. In the short wave infra-red (SWIR) region clay minerals of the smectite group were dominant. Gypsum and Al-Mn-Mg-Na sulphate salts were identified in the SWIR region as mixtures occurring with clay minerals. Minerals identified in the VNIR-SWIR region were all confirmed by X-Ray diffraction (XRD). Upon dissolution, geochemical modeling revealed that gypsum and jarosite are the most common minerals expected to precipitate. The precipitation of gypsum and jarosite indicates persistent acidic conditions after dissolution of mineral salts. Gypsum and jarosite were also accurately identified by hyper-spectral spectroscopy and confirmed by XRD and geochemical modeling. Agreement between spectral interpreted minerals and geochemically precipitated mineral phases demonstrated the ability of hyper-spectral data in detecting efflorescence minerals on the soil surface. Using partial least squares regression (PLSR) combined with bootstrapping, reflectance spectrum was significantly correlated with geochemical variables.

No description available.

References appear at the end of each chapter / The importance of gold in the development of South Africa as an industrialised economy cannot be over - emphasised. Towards the end of the 19th century the economy depended almost entirely on the production of gold and diamonds which laid the foundation for a highly - developed national economy. With gold still continuing to play an important role coupled with the recent price increases, a need was felt to investigate the potential effect of higher prices on gold production in South Africa. For reasons set out in the study, it was decided to compare potential out put for five different gold prices. A gold price received by the mines of 050 per ounce was used as abase. Further calculations were made at 060, 070, 0100 and 0150 per ounce. The calculations for all the cases were done duri ng the period when the Rand was floating with the Pound Sterling and a Rand : Dollar parity of 1:1, 2 4 was used. Since then two parity changes occured : the Rand was pegged to the Dollar on the 25th October, 1972 to give a Rand : Dollar parity of 1:1,27732, and the Dollar was devalued on the 13th February, 1973 by 1 1,1 % to give the present Rand : Dollar parity of 1:1, 4192. The e ffect of the above two parity changes is that revenue in Dollar terms is overstated by 14,45 5%. It is suggested that for purposes of this study the Rand figures be accepted and wherever Dollars are used in future estimates these be increased by the afore-mentioned 14, 455%. In Dollar terms the five Cases analised will change as follows: Case A : 5350 becomes 057, 23 per ounce Case B : 260 becomes 068, 67 per ounce Case C : 270 becomes 080,12 per ounce Case D : 0100 becomes 0114 ,46 per ounce Case E : 0150 becomes 0171, 68 per ounce To do an in-depth investigation into the effects of higher gold prices on each individual mine, it was necessary to analyse the various parameters required in the determination of gold p r oduction, revenue, lease and tax payments , and dividends. For each mine the pay limits at the various gold prices and at estimated working cost levels, were determined . Graphs of the estimated tonnages at various pay limits as well as the average grade of ore mineable at these limits were determined. From these graphs it is possible to obtain the total tonnage mi neable at various pay limits. Once the foregoing parameters were obtained for each mine, it was possible to determine annual gold production, revenue, lease and tax payments and amounts available to share holders which are then summarised in tables and illustrated in graphs. For ease of reference the mines were divided up into geographica l areas. Gold production revenue, lease and tax payments to the State and the amounts available to shareholders are summarised and compared for the various gold prices. The summaries show bold production remaining fairly constant at or just below the present level of about 900 000 kilograms per year until 1978 for Case A, 1979 for Cases B and C, 1983 for Case D, and 1984 for Case E. before declining progressively thereafter. Revenue following the same pattern as gold production for Case A , as is to be expected, but increasing to a peak of R1 466 million in 1977 for Case B before progressively declining, increasing to a peak of R2 434 million in 1982 for Case D before progressively declining, increasing to a peak of R3 478 million in 1983 for Case E but remaining above the 1973 level of R1 254 million until the year 2005. Lease and tax payments and amounts available to share-holders following the same pattern as that indicated by revenue reaching peaks of respectively R390 million and R268 million for Case B R485 million and R339 million for Case C R756 million and R536 million for Case D R1 000 million and R779 million for Case E. Following the recent monetary unrest, gold prices assumed for 1973 are too conservative. Should the present gold price of about $80 and the 1972 level of production of 909 000 kilograms continue for the remainder of 1973, then gold production, revenue, lease and tax payments and dividends as shown for Case C for the year 1975 will be applicable for 1973. This shams gold production of 919 520 kilograms, gold revenue of R 1690 million, lease and tax payments of R465 million, and dividends of R339 million. The effect of the higher gold price can be clearly seen when the fore-going figures are compared with the 1971 totals of gold production of 97 6,600 kilogr ams , revenue of R396 million from gold, lease and tax payments of approximately R139 million, and dividends of R142 million . Despite a decline in gold production, revenue is expected to be up by 8 9 % whilst lease and tax payments increase by 2 35% compared with a dividend increase of 139%. Finally certain tax concessions to increase productivity and the rebuy alleviate the labour shortage, prolong the li ves of the mines by mining lower grade ore, and encourage exploration was investigated and suggestions made. / Business Management / D. Com.

M.Comm. / Many variables exist that influence buyer behaviour in the narrow reef gold mining market. Since some variables are real but subjective in nature, such as the opinion and charisma of mine managers or influential individuals, it is difficult to quantify and analyse them. The question is ? Which variables, 8 quantifiable or not, are more dominant in shaping buyer behaviour and how should they be prioritised? What is needed is a logical segmentation model which reflects true buyer behaviour in order to shape future strategies in AEL so that the overall company objectives can be met. Each segment should then be analysed and considered regarding attractiveness in satisfying needs and the ability to add value both to the customer and to AEL. It is also required to target market segments and develop a marketing mix for them so that AEL is correctly positioned to retain the markets it choose to compete in. The problem is the failure to identify market areas of similar response which are relatively stable and can be used to select areas where maximum value can be added to the customer and to the company and can be used to shape and define future direction. The following objectives have been set for this study:The establishment of a market segmentation model which will identify and explain the basis of similarities and differences in buyer behaviour groups which is sufficiently large and stable in order to focus future strategies. - The interpretation of the segmentation model in the light of the strengths, weaknesses, opportunities and threats of the company in order to target markets best suited to the potential of the company. - Development of strategies and positioning in the target markets to strengthen the chance of success.

The project area is situated within the Tugela Valley, located in the Northern Marginal Zone of the Natal Structural and Metamorphic Province, and this work outlines the different styles of gold mineralization found in the Tugela Valley. Two different styles have been recognized and both have economic significance:- 1) Epigenetic shear zone-hosted gold occurs in late-stage relatively undeformed thin quartz veins confined to shear zones, and is present in both the greenschist facies Natal Thrust Belt and the amphibolite facies Natal Nappe Complex. However the vast majority of these occurrences are concentrated within the thrust front (i.e. the Natal Thrust Belt). The gold grades (up to 7 g/t) and the hydrothermal alteration assemblages associated with the epigenetic deposits have been documented. 2) An as yet unrecognized occurrence of syngenetic gold mineralization is found associated with the sediment-hosted exhalative massive, to semi-massive, sulphides of the iThuma prospect, located within the amphibolite facies Natal Nappe Complex. Here gold (up to 3 g/t) is concentrated together with the main sulphide are, as well as some gold enrichment (230ppb) in the hydrothermally altered footwall feeder pipe. It is proposed that the epigenetic mineralization was formed as a consequence of the northward directed abduction of the major thrust slices of the Natal Nappe Complex. This increased the permeability of the rocks and provided channelways for the focussing of fluids. Deposition took place at the thrust front where metamorphic hydrothermal fluids interacted with meteoric water.