Mining



Industry Overview

Mining - should we not have a bigger play on our play within the overall industry, detailing all the resources we are in this overview. The mining industry has played a key role in South Africa's economic development for 130 years, and almost one fifth of the country's GDP is attributable to mining. In 2010 alone, the industry helped to create over 1.3 million jobs, both within the industry itself and throughout its supply chain, and it is estimated that for every job created in mining, two are created in the economy as a whole. Mining is also South Africa's primary source of foreign exchange, accounting for 38% of total merchandise exports in 2011. It further provides about 72% of South Africa's primary energy needs and, in a very real way, fuels the country.

The industry is nevertheless facing many challenges, including the downward trend in the demand for gold and protracted labour disputes in the gold and platinum sector. And, like other industries, it is affected by macroeconomic issues such as increasing costs, fluctuations in the value of the local currency and competition from new players in the global mining industry.

Mining is therefore the focus of intense economic and policy debate, which encompasses not only exploration and extraction, but also beneficiation.

Oakbay is a majority shareholder in several companies in the mining industry, and participates in a number of joint ventures. In all of these initiatives, the company is deeply committed to creating value for its shareholders, as well as to facilitating real and meaningful socio-economic change in South Africa.

JIC Mining

JIC Mining Services (JIC) was established in 1987, and has been in the mining industry for 28 years. The company provides turnkey outsourced mining services through partnerships with various blue chip as well as other mining companies.

JIC Mining provides a competitive range of products and services in the areas of mining, engineering, and training.

JIC Mining Services and its subsidiary company JIC Engineering Services (Pty) Ltd have provided mechanised mining equipment, mining supplies, underground construction and equipping services and hard rock mining excavation solutions to an impressive array of companies that operate in South Africa’s mining industry, some of which are nationally and/or internationally listed and publically traded entities on the stock exchanges that are managed in terms of strict corporate governance standards to satisfy the exacting standards in relation to governance, risk and compliance to protect and promote the interests of the enterprise and all its stakeholders in terms of the triple bottom line (profit, people and planet).

The company has developed mining equipment in the form of the Mantis Drill Rig, Manitou-Mantis Drill Rig and Warthog non-throw loader. JIC uses these machines extensively in its operations and also sells them to other mining companies.

JIC offers a full range of services, ancillary to turnkey, and has core competencies and a range of value-added services to provide mining solutions to mining rights owners.

Visit our website: http://www.jic.co.za

Tegeta

Tegeta was formed in 2006 to identify and develop the mining assets of the Oakbay Investments Group, especially coal. Tegeta holds two mining rights for coal – Brakfontein and Brakfontein Extension - in the Delmas area and rospecting rights in Mpumalanga, Free State, KZN and Limpopo directly or through associates.

Tegeta mines and markets coal through its three operational entities: Tegeta Exploration and Resources, Tegeta Resources and Idwala Coal.

Tegeta mines an average of 4 000 tons of coal per day and this is set to double by October 2015. Tegeta has plans to mine 400 000 tons of coal per month in next three years.



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