According to the WITS Mining Institute, South Africa needs to re-invigorate its mining sector and “harness the plethora of existing and new up and down stream opportunities for industrial and manufacturing growth”.
The institute believes that it is crucial for the country to create the technologies and mining methods to push mining deeper into a commercially viable sector.
Thabo Moloto, a Mining Executive and shareholder in several local, continental and global mining entities, is one of those who are in pole position to take on this exact mandate.
Having a strong background in the field of Mining Engineering, Thabo Moloto has a rare and diverse mining experience that cuts across various commodities such as diamond, coal, gold, manganese and the platinum group metals to mention just a few.
“I started my career with DeBeers Consolidated Mines and later joined the world of contract mining and shaft sinking which exposed me to an unlimited world of mining.
“In this regard, I worked for Aveng Mining and later a multinational company called Shaft Sinkers. I rose through the ranks from Junior Mining Engineer, Site Manager, Contracts Manager, Project manager, Operations Manager, Operations Director and then subsequently Managing Director,” he explains.
In a country where the black community in the context of mining is not at all synonymous with ownership nor executive-level roles, education, determination and sheer grit become the deciding factors.
“I hold a Junior Degree in Mining Engineering, and I am currently on the verge of completing my Master of Science in Mining Engineering.
“I would strongly urge young people who are interested in this field to start looking at mining from the economic linkages that mining produces. There are mining-related careers in every economic linkage,” he says.
Statistics from the South African Department of Mineral Resources and the US Geological Survey indicate that South Africa possesses ore reserves amounting to a value of more than US$2.5 trillion.
Additional statistics also show that South Africa is currently ranked 5th internationally in terms of mining contribution to GDP.
However, the question remains whether the South African government is doing enough to make sure that this sector makes a turn back towards its former heyday.
“The Mining Industry in South Africa should go back to basics. Issues such as investing in exploration to secure our natural resources for future generations should be placed top on the agenda.
“I’m very excited that the current government is providing practical solutions to these challenges through the recently launched Exploration Fund.
“We should also shift from having a comparative advantage due to our mineral endowments, to a competitive focus because we operate in a globally-competitive world.
“The issues related to challenges of mineral beneficiation should be addressed expeditiously,” Moloto urges.
Given that the natural resources are available en masse – with issues such as the much publicised illegal mining syndicate problem that has become commonplace all across mining communities, there are many other challenges that hamstring this sector from becoming all that it can, and used to be.
“The government should also address the issues of electricity (cost and availability) as well as supply chain disruptions.
“This issue is on the doorstep of state-owned and controlled entities, and these can be solved if there is enough political will.
“We should look towards countries such as Australia and Canada, as they are currently ranking higher in the Mining Investment attractiveness index,” he continues.
Most of Moloto’s major successes lie in mining shaft sinking, and the use of technology to make mining safer, given that safety in the mining sector is a historic global problem.
“While serving as the Managing Director of Shaft Sinkers, I acquired shares in the company, a move that allowed me to continue as non-executive chairman of the company, while exploring other investment and consulting opportunities.
“Historically, Shaft Sinkers has sunk shafts in Asia, Europe and in the African continent. In 2022 we acquired substantial ownership in an old diamond mine in the Boshoff area of the Free State province, with a renewed 30 years mining rights.
“What makes it interesting is that the asset was listed with the JSE in the 1980s, and therefore provides us with adequate data to make future sustainable decisions that will change people’s lives,” he adds.
With Moloto’s sights set firmly on making his mark on the mining industry both at home and abroad, what is he tackling next in his five-year plan?
“The pIan is to see my company -- Rootz Investments, get into every node of the mining value chain.
“I now lead the South African subsidiary of a Canadian firm, Sight Power Inc, as CEO of the Sub-Saharan business.
“I am also extensively involved in mineral exploration activities in countries such as the Democratic Republic of Congo.
“We have also recently acquired shares in a Canadian Digital Mining company that provides digital mining solutions to improve safety and profitability of the mines we are contracted to, and I plan to turn at least one prospecting right into a fully operational mining asset,” he concludes.
The Star