Embed Size (px)
Citation preview
Presentation to
Parliamentary Portfolio Committee7 November 2007
Morake Abiel Mngomezulu Chief Executive Officer
Sources of Information
Mintek Annual Report
Audited Financial Statements
Shareholder Performance Agreement
Independent performance assessment conducted by 3P Consulting (Pty) Ltd
Highlights - Year ended March 2007
Total income up 12% to R320,1 million
Auditor-General expressed an unqualified audit opinion on Mintek’s annual financial statements
Independence Platinum funding a 3-year program to commercialise ConRoast technology
Increase in service work for PGM, uranium, and copper-nickel-cobalt projects in Southern Africa
Established a further 8 Jewellery workshop bringing them to a total of 25
Theft and fraudulent costs
R2.7 million loss as a result of fraudulent payments made by two former employees
Independent forensic audit conducted, criminal proceedings instituted
Monitoring controls not always adhered to
Mitigating actions implemented to prevent and/or detect similar occurrences
Financial summary
R million
2007 2006
Income 320.1 285.3
Core Funding 104.1 95.5
Earmarked funding 24.5 9.1
Own income 191.5 180.7
Expenditure 317.1 281.2
Staff costs 185.0 169.2
Overheads & operating costs 132.1 112.0
Surplus 3.0 4.1
Balanced Scorecard Approach
To succeed financially, how should we appear to our shareholders?
Financial - 1
Ob
ject
ive
Act
ua
l 20
05/
6
Tar
get
200
6/7
Act
ua
l 20
06/
7
To achieve our vision, how will we sustain our ability to change & improve?
Learning & Growth - 3O
bje
ctiv
e
Act
ua
l 20
05/
6
Tar
get
200
6/7
Act
ua
l 20
06/
7
To achieve our vision, how should we appear to our customers?
Customer - 2
Ob
ject
ive
Act
ua
l 20
05/
6
Tar
get
200
6/7
Act
ua
l 20
06/
7
To satisfy our shareholders & customers, what business processes must we excel at?
Internal Bus Process - 4
Ob
ject
ive
Act
ua
l 20
05/
6
Tar
get
200
6/7
Act
ua
l 20
06/
7
Financial Perspective - 1
Objective Actual 2005/6
Target 2006/7
Actual 2006/7
Financial Sustainability
Parliamentary grant R95.5m R104.1m R104.1m
Earmarked funding R9.1m R11.4m R24.5m
External contract funding R152.8m R166.0m R168.9m
Total Income R285.3m R297.8m R320.1m
Overhead efficiency
Ratio of overhead cost to total cost 37.6% 41.3% 41.6%
Ratio of salaries to total expenditure 60.5% 56.7% 58.4%
Governance and Controls
Qualifications by AG in AFS 2 0 0
Value of fraudulent payments R0m R0m R2.7m
Customer Perspective - 2
Objective Actual 2005/6
Target 2006/7
Actual 2006/7
Fulfil Mintek - Shareholder mandate
Expenditure on core R&D activity R95.5m R73.0m R104.1m
Export of Mintek’s mineral technologies # R6.0m R17.5m
Projects supporting the SADC and NEPAD
R3.4m R2.8m R4.9m
Projects on ASSM and rural development
R6.1m R18.4m R17.7m
Number of ASSM and jewellery trainees 1155 1200 927
Develop gold jewellery nodes 20 25 20
Meet clients expectations
Customer dissatisfaction index 9% <10% 13%
#: Comparative data not available
Learning and Growth Perspective - 3
Objective Actual 2005/6
Target 2006/7
Actual 2006/7
Scientific OutputTotal scientific documents 421 360 301
Documents per person-year 1.01 1.00 0.97
Strategic alliances with other S&T bodies
5 7 11
Projects with external collaborators 15 20 23
HR DevelopmentMasters and PhD researchers 62 70 88
Postgraduate bursars 53 50 41
Undergraduate bursars 38 40 37
Trainees and Interns 50 50 44
Knowledge RetentionProfessional staff turnover # 20% 22%
#: Comparative data not available
Internal Business Process Perspective - 4
Objective Actual 2005/6
Target 2006/7
Actual 2006/7
Quality, Environment, Safety, & HealthISO 9001, 14001, OHSAS 18001
certification
Work related fatalities 0 0 0
Lost time injury frequency rate 1.7 <1.5 1.9
Incidents of environmental non-compliance
0 0 0
Transformation% Black researchers & managers 37% 40% 40%
% Woman researchers & managers 35% 31% 31%
% Black trainees & interns # 98% 98%
% Female trainees & interns # 52% 59%
% Disabled employees 1.2% 1.0% 1.0%
% BEE Procurement Spend # 18% 17%
Mintek Bursars
Thank you
200 Malibongwe DriveRandburgwww.mintek.co.zaTelephone: +2711 709 4111
THANK YOU
