Thesis (Ph.D.)(Geography)--University of Pretoria, 2004. / Title from opening screen (viewed 13 December 2005). Includes summary. Includes bibliographical references.

A research report submitted to the Faculty of Engineering and the Built Environment, University of the Witwatersrand, in fulfilment of the requirements for the degree of Masters of Science in Mining Engineering 2016/10/5 / Management does not have an efficient mechanism to test strategic and operational alternatives and to assess the impact of these on the value and underlying trade-off variables of the business. Techno-economic models can be applied for this purpose as they provide a framework for undertaking advanced process simulation and business valuation. The purpose of the research report is to identify key components, principles and best practice as applied in techno-economic models, to improve techno-economic modelling for the purpose of decision-making and business optimization. The integrated techno-economic model requires a mining model with production planning and scheduling abilities. The half-level system method can be applied to create production profiles for different mining options and only after optimisation the best option is taken forward for graphical design and detailed scheduling. A metallurgical model incorporates the logic and efficiencies of the treatment process into the techno-economic model from which the refined products are determined for revenue and costing purposes. The financial model integrates with the mining and metallurgical elements and uses detailed costing models and sound financial principles for operating and capital cost estimates. An accurate techno-economic model includes key cash flow components and applies rigorous valuation practice for investment analysis. Techno-economic models are extensively applied in business planning, major project valuations and stay–in-business project valuations. Learnings from the review of these case studies suggest best practice, which allows the models to be applied to different types of business entities and contributes to the accuracy, consistency and efficiency of techno-economic modelling. Integrated techno-economic modelling is also applicable in strategic planning and mine design optimization as it provides a powerful instrument for decision-making and business optimization. The future of the mining business depends on it as an invaluable direction steering tool. / MT2017

Thesis (MScIng)--University of Stellenbosch, 2004. / ENGLISH ABSTRACT: This thesis details results obtained in an experimental study conducted to determine the effects of operating temperature, oxygen partial pressure, bulk chromium oxide content and bulk FeOx/MgO ratio on the solubility of chromium oxide in melter type slags in the platinum industry. Two PGM-containing layers in the Bushveld Complex in South Africa, the Merensky and UG2 reefs, are currently being mined for the extraction of base metals and platinum group metals (PGM). While the Merensky reef is a pyroxenitic layer, the UG2 reef is a platiniferous chromitite seam. Due to a gradual depletion in Merensky ore reserves, platinum producers have been moving towards the processing of more UG2 concentrates, which are higher in chromium oxide content. The technical difficulties associated with the smelting of concentrates with high chromium oxide contents is a matter of concern. The formation of chromite spinels in melts increases liquidus temperatures and viscosities and subsequently hampers tapping of slags and mattes from furnaces. Bottom build-up from the smelting of high chromium oxide containing concentrates could reduce effective furnace volume. From the literature reviewed it was found that very few published investigations covered melt compositions and oxygen partial pressures similar to those encountered in the platinum industry. Relevant studies were found to deal with significantly lower bulk chromium oxide and iron oxide contents. It became clear that a need exists for information on the behaviour of chromium oxide and its effects on phase chemistry and stability in melter slags. It was decided to study the phase equilibria through drop-quench experiments using six synthetic slags with bulk FeOx/MgO ratios between 0.6 and 1.9 and bulk chromium oxide contents between 1.2 and 7 wt%. Temperatures investigated were 1400, 1500 and 1600°C. The oxygen partial pressure was varied between 6.8x10-10 atm at 1400°C to8.3x10-5 atm at 1600°C. Experiments were conducted in a sealed vertical tube furnace and the required oxygen partial pressure in the furnace tube was maintained by controlling the flow rates of purified CO and CO2 gas mixtures through the tube. Reaction products were quenched after a reaction time of between 20 and 24 hours, depending on temperature, and the phase compositions were analysed by microprobe. The experimental study revealed that chromium oxide partitions very strongly into the spinel phase relative to the liquid phase, especially at lower temperatures, and higher oxygen partial pressures and bulk chromium oxide contents. The solubility of chromium oxide in the liquid phase was found to increase with increasing temperature and decreasing oxygen partial pressure. An increase in bulk chromium oxide contents of 1 wt%, under otherwise constant conditions, resulted in an increase in slag liquidus temperature of approximately 100°C over the range of temperatures investigated. At 1500°C and bulk chromium oxide contents of 3.7 and 6.4 wt% a reduction in oxygen partial pressure from 1.1x10-5 to 1.1x10-7 atm resulted in increases in soluble chromium oxide of 0.9 and 2.0 wt%, respectively. A further decrease in oxygen partial pressure to 6.7x10-9 atm resulted in increases in soluble chromium oxide of 2.8 and 4.7 wt%, respectively. Experimental results were compared to values predicted by the multi-phase equilibrium (MPE) model developed by CSIRO, and found to agree well. Slag basicity was not varied experimentally and therefore the model was used to predict its effect on the solubility of chromium oxide in the liquid phase and the stability of crystalline phases. At constant temperature, an increase in basicity resulted in a decrease in the solubility of chromium oxide in the liquid phase as well as stabilisation of the spinel phase. It was concluded that practicable combinations of one or more of four main factors, namely increased operating temperature and decreased bulk chromium oxide content, slag basicity and oxygen partial pressure, should be applied and evaluated in a plantenvironment to optimise furnace operation. The MPE model would be a valuable tool in predicting the outcomes of such investigations. / AFRIKAANSE OPSOMMING: Hierdie tesis detaileer die resultate wat verkry is uit ‘n eksperimentele studie uitgevoer om die effek van bedryfstemperatuur, die parsiële druk van suurstof, die algehele chroomoksied inhoud en die algehele FeOx/MgO verhouding op die gedrag van chroomoksied in smelter slakke in die platinum industrie te bestudeer. Twee PGM-bevattende ertslae in die Bosveldkompleks in Suid Afrika, die Merensky en UG2 riwwe, word huidiglik gemyn vir die ekstraksie van basismetale en platinumgroep metale (PGM). Die Merensky rif is ‘n piroksenitiese laag terwyl die UG2 rif ‘n platinumbevattende chromitiet laag is. As gevolg van ‘n geleidelike afname in reserwes van Merensky erts beweeg platinumprodusente al meer na die verwerking van groter hoeveelhede UG2 erts. Die tegniese probleme wat gepaard gaan met die smelting van konsentrate met hoë chroomoksied inhoud kan ‘n rede tot kommer wees. Die vorming van chromiet spinelle in die slak- en matfases verhoog likuidus temperature en viskositeite en bemoeilik die tap van hierdie fases uit oonde. Die opbou van soliede fases verlaag ook die effektiewe oondvolume. Uit die literatuurstudie is gevind dat gepubliseerde studies waarin slak samestellings en parsiële suurstofdrukke wat betrekking het op die platinumindustrie bespreek is, baie beperk is. Dit is gevind dat relevante navorsing gedoen is met aansienlik laer algehele chroom- en ysteroksied konsentrasies. Gevolglik het dit duidelik geword dat ‘n behoefte bestaan vir inligting oor die gedrag van chroomoksied in oonde en die effekte daarvan op fasechemie en –stabiliteit in smelter slakke. Daar is besluit om eksperimente uit te voer deur die gebruik van ses sintetiese slakke met algehele FeOx/MgO verhoudings tussen 0.6 en 1.9 en algehele chroomoksied konsentrasies tussen 1.2 en 7.0 % (op ‘n massabasis). Temperature van 1400, 1500 en 1600°C en suurstof parsiële drukke tussen 6.8x10-10 atm by 1400°C en 8.3x10-5 atm by 1600°C is ondersoek. Eksperimente is uitgevoer in ‘n geseëlde vertikale buisoond en dievereiste suurstofdruk in die oond is gehandhaaf deur beheer van die vloeitempos van gesuiwerde CO en CO2 gas deur die oond. Reaksieprodukte is in water geblus na ‘n reaksietyd van tussen 20 en 24 ure, afhangende van die reaksietemperatuur. Fasesamestellings is bepaal deur mikrosonde analises. Die eksperimentele studie het bewys dat chroomoksied baie sterk in die spinelfase konsentreer relatief tot die vloeistoffase, veral by laer temperature, suurstofdrukke en algehele chroomoksied konsentrasies. Dit is gevind dat die oplosbaarheid van chroomoksied in die vloeistoffase toeneem met toenemende temperatuur en afnemende suurstofdruk. ‘n Toename in die algehele chroomoksied konsentrasie van 1 massa%, onder andersins onveranderde toestande, het ‘n toename van ongeveer 100°C in likuidus temperature veroorsaak tussen 1400 en 1600°C. By 1500°C en algehele chroomoksied konsentrasies van 3.7 en 6.4 massa%, het ‘n verlaging in suurstofdruk vanaf 1.1x10-5 tot 1.1x10-7 atm respektiewelike toenames in die chroomoksied oplosbaarheid van 0.9 en 2.0 massa% veroorsaak. ‘n Verdere verlaging in suurstofdruk tot 6.7x10-9 atm het respektiewelike toenames in chroomoksied oplosbaarheid van 2.8 en 4.7 massa% veroorsaak. Eksperimentele resultate is vergelyk met waardes wat voorspel is deur die multifase ewewigsmodel (MPE), ontwikkel deur CSIRO, en goeie ooreenstemming is gevind. Verskillende slak basisiteite is nie eksperimenteel ondersoek nie en daarom is die model gebruik om die effek daarvan op die oplosbaarheid van chroomoksied in die vloeistoffase asook die stabiliteit van kristallyne fases te bepaal. By konstante temperatuur het ‘n toename in slak basisiteit ‘n afname in chroomoksied oplosbaarheid veroorsaak en die spinelfase gestabiliseer. Die aanbeveling is gemaak dat ‘n kombinasie van een of meer van vier hooffaktore, naamlik hoër bedryfstemperature en laer algehele chroomoksied konsentrasies, slak basisiteit en suurstofdruk, in die praktyk toegepas en geëvalueer moet word om sodoendeoptimum bedryfkondisies te bepaal. Die multifase ewewigsmodel is ‘n nuttige instrument wat gebruik kan word om die resultate van sulke ondersoeke te voorspel.

Investors make investment decisions based on their risk appetite. Furthermore, when such investors consider shares as part of their investment portfolio, these investors will consider the risk profile of the company it is interested in. By taking on a certain level of risk, shareholders expect to be commensurately compensated. Shareholders of companies with relatively higher debt levels in their capital structure and therefore higher financial risk, require a relatively higher return on their investment in order to compensate for such additional risk taken. Shareholders expect return in the form of dividend pay-outs, and capital growth in the share price. A positive correlation is therefore expected between the debt levels of a company and the total return to their shareholders, i.e. the sum of the dividend pay-outs and the capital growth in the share price, also referred to as total shareholder return (TSR). The focus of this study is on the platinum industry in South Africa, as this industry is vital to the South African economy in terms of job creation and earner of foreign exchange as South Africa dominates the world production of platinum. The purpose of this study is to investigate whether there is a correlation between the debt levels and the total shareholder return (TSR) of platinum companies listed on the JSE Ltd. Quantitative research techniques were used to address the research problem, making use of secondary data and rank correlation-based research. Firstly, the debt-to-equity ratio for each company was calculated based on book values. Secondly, the TSR of each company was calculated considering the dividends received and capital growth in share price. The correlation between the TSR and the debt-to-equity ratio was determined using Spearman’s rank correlation coefficient. The results were inconclusive, i.e. no, negative and positive relationships where the relationship is for the first 12 years not significant and for the last two years significant. Therefore the final conclusion is that this study is inconclusive to support or to reject the conceptual scope of the study in that risk is concomitant to return, i.e. returns compensate for risks, therefore higher debt levels require higher total shareholder returns (and vice versa). This study contributes to the literature on capital structure decisions from a South African platinum company perspective. The core audience will be the management of South African platinum companies considering changes in their capital structure as well as investors considering investing into a listed platinum company. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

Investors make investment decisions based on their risk appetite. Furthermore, when such investors consider shares as part of their investment portfolio, these investors will consider the risk profile of the company it is interested in. By taking on a certain level of risk, shareholders expect to be commensurately compensated. Shareholders of companies with relatively higher debt levels in their capital structure and therefore higher financial risk, require a relatively higher return on their investment in order to compensate for such additional risk taken. Shareholders expect return in the form of dividend pay-outs, and capital growth in the share price. A positive correlation is therefore expected between the debt levels of a company and the total return to their shareholders, i.e. the sum of the dividend pay-outs and the capital growth in the share price, also referred to as total shareholder return (TSR). The focus of this study is on the platinum industry in South Africa, as this industry is vital to the South African economy in terms of job creation and earner of foreign exchange as South Africa dominates the world production of platinum. The purpose of this study is to investigate whether there is a correlation between the debt levels and the total shareholder return (TSR) of platinum companies listed on the JSE Ltd. Quantitative research techniques were used to address the research problem, making use of secondary data and rank correlation-based research. Firstly, the debt-to-equity ratio for each company was calculated based on book values. Secondly, the TSR of each company was calculated considering the dividends received and capital growth in share price. The correlation between the TSR and the debt-to-equity ratio was determined using Spearman’s rank correlation coefficient. The results were inconclusive, i.e. no, negative and positive relationships where the relationship is for the first 12 years not significant and for the last two years significant. Therefore the final conclusion is that this study is inconclusive to support or to reject the conceptual scope of the study in that risk is concomitant to return, i.e. returns compensate for risks, therefore higher debt levels require higher total shareholder returns (and vice versa). This study contributes to the literature on capital structure decisions from a South African platinum company perspective. The core audience will be the management of South African platinum companies considering changes in their capital structure as well as investors considering investing into a listed platinum company. / MCom (Management Accountancy), North-West University, Potchefstroom Campus, 2015

Various authors have scrutinised the sole utilisation of quantifiable (financial) appraisal criteria in capital investment appraisal. They argue that the appraisal of capital investment proposals must concentrate on the capital investment process as a whole and not only on the selection phase. These authors suggest that capital investment opportunities and proposals must be sought within the parameters set by strategy. Therefore, the purpose of this study was to explore and to describe how decision-makers in the platinum industry experience the influence of competitive strategy on the capital investment process. Semi-structured interviews were held with strategic capital investment decision-makers within a major role player in the platinum industry. Respondents were selected according to the snowball sampling method. An analysis of the results indicates that competitive strategy does influence the capital investment process. This influence is particularly observable with regard to the initiation of capital investment ideas, the capital budget allocation and the strategic appraisal criteria utilised by decision-makers to screen capital investment proposals. The strategic capital investment process constitutes much more than just the selection of capital investment proposals. Therefore, the findings of this study signify the importance of considering the influence of competitive strategy on the capital investment process. / Business Management / M. Tech. (Business Administration)

A project report submitted to the faculty of Engineering, University of the Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Master of Science in Engineering. Johannesburg, 1994. / South Africa is the largest primary producer of platinum-group metals (PGMs) in the world. It is estimated that only 2.1 per cent of the 153711 kg of total sales for 1993 was beneficiated locally. Potential value added foreign exchange earnings and employment opportunities. therefore. are being forfeited. This study identifies prospective areas of development in the major sectors of application of PGMs namely: autocatalysts; chemical and allied industries; electrical and electronics sectors; jewellery and coinage fabricators. The methodology of intensity of use (IOU) is first discussed. ThIs is followed by an analysts of South Africa's production and sales of PGMs. The body of the report is an empirical study of the IOU of platinum and palladium to establish a world outlook for these metals in their applications. Finally, the more lucrative of these applications are discussed in the light of South Africa's participiltion and competitiveness in the world market. The conclusions are firstly, that the established autocatalyst industry has the best prospect for growth and expansion. Secondly, the electrical application of platinum in fuel cells has potential depending on the level of government funding and support for a R&D programme. The third finding is that the electronics and jewellery industries have development potential on condition that resistance to market entry can be overcome by reduced public policy costs. Possible violation of GATT agreements may be avoided for these applications by world free trade co-operation.

Various authors have scrutinised the sole utilisation of quantifiable (financial) appraisal criteria in capital investment appraisal. They argue that the appraisal of capital investment proposals must concentrate on the capital investment process as a whole and not only on the selection phase. These authors suggest that capital investment opportunities and proposals must be sought within the parameters set by strategy. Therefore, the purpose of this study was to explore and to describe how decision-makers in the platinum industry experience the influence of competitive strategy on the capital investment process. Semi-structured interviews were held with strategic capital investment decision-makers within a major role player in the platinum industry. Respondents were selected according to the snowball sampling method. An analysis of the results indicates that competitive strategy does influence the capital investment process. This influence is particularly observable with regard to the initiation of capital investment ideas, the capital budget allocation and the strategic appraisal criteria utilised by decision-makers to screen capital investment proposals. The strategic capital investment process constitutes much more than just the selection of capital investment proposals. Therefore, the findings of this study signify the importance of considering the influence of competitive strategy on the capital investment process. / Business Management / M. Tech. (Business Administration)

Thesis (MPhil (Public Management and Planning))--University of Stellenbosch, 2009. / This project proposal has as its topic a communications and change management project within Anglo Platinum, called the G3 Project. It is being submitted as an integrated assignment for the MPhil programme on sustainable development in the Department of Public Management and Planning at Stellenbosch University and is also intended for consideration by the executive management of Anglo Platinum. The G3 Project proposal document has been drafted based on the logical framework analysis (LFA) approach and format envisaged by Örtengren (2004). LFA is a widely accepted methodology for setting out project proposals. It provides a basis for identifying a problem in society, and for analysing its causes and effects. This then provides a basis upon which to identify actions that will address the causes of the problem. This project proposal covers each of the nine stages of the LFA guidelines, as follows: context analysis; stakeholder analysis; problem analysis; objectives analysis; plan of activities; resource planning; indicators; risk analysis; and assumptions. The focal problem of the analysis is that corporate sustainable development reporting has become mostly a bureaucratic, “tick-box process” under Global Reporting Initiative (GRI) 2002 guidelines. As Confino (2008) has alerted us, “There is a risk that sustainability reporting will not inspire deep change, but could become a dry bureaucratic diversion.” Therefore, the overall objective of the project is to ensure that corporations use their sustainable development reports to make ambitious commitments to sustainability, as a means of addressing global sustainability challenges. Its purpose is to ensure that Anglo Platinum’s sustainability reporting, compiled using the GRI G3 guidelines, is used as a vehicle for the company to make ambitious commitments to addressing the material societal sustainability issues over which it has control; and results in fundamental changes in the company’s business processes. The outputs of the G3 Project, which are designed to meet the project’s purpose, include compiling the 2008 Anglo Platinum sustainable development report in line with the requirements to meet the GRI’s G3 B+ self-declaration level;1 setting ambitious, sustainability-related targets and developing management plans to address Anglo Platinum’s material sustainability issues; and ensuring that the 2009 Anglo Platinum sustainable development report is structured and in line with GRI’s A+ requirements. For these outputs to be achieved, a budget of R8 million will need to be made available for the G3 Project over the next three years. Questions may be raised about what the business case is for doing such a project. However, according to a recent Globescan/SustainAbility survey of corporations, academics, NGOs and sustainable development experts, the reason why it is important for companies in general to address those social sustainability challenges over which they have control is that they are believed to be key players, more so than governments and non-governmental organisations (NGOs), in providing leadership on sustainable development over the next ten years. This was reiterated by Hart (2005), who states that corporations are the only entities in the world today with the technology, capacity and global reach required to lead us towards a sustainable world. This project proposal is directed at the executive management of Anglo Platinum, for its consideration in deciding the future path of sustainable development reporting -- and of sustainability itself -- within the company.

Knowledge retention plays an important role in combating organisational knowledge loss. However, some organisations, including mining companies, still lose organisational knowledge due to employees retiring, resigning, downsizing, attrition and so on. This leaves the companies with a shortage of qualified and senior, experienced employees to meet production needs, which has a negative impact on the running of the operational functions on a day-to-day basis. This qualitative study utilised the knowledge-retention model as a theoretical framework to investigate knowledge-retention strategies at a platinum mine in the North West province in South Africa. Data were collected through semi-structured interviews with 10 employees of the platinum mine in North West province who were chosen purposively, as well as organisational document review. The key findings revealed that although the mine has a knowledge-retention policy, some of the employees are not aware of its existence and there is no enough investment in knowledge-retention initiatives within the organisation. The study concludes by arguing that having knowledge retention policy, strategies and initiatives on paper but failing to implement is as good as not having it. The study recommends that management become involved, support knowledge-retention initiatives, and ensure that knowledge retention policy is implemented in the organisation. / Information Science / M.A. (Information Science)