Full Name
Mr. Matome Tsholetsa Malema
Job Title
CEO
Company
Minerals Development Company Botswana
Speaker Bio
CAREER AND ACAMEDIC SUMMARY
I am a High Impact, Seasoned and Commercially astute Mining & Metals Executive with over 30 years’ experience in interalia, People Development, Safety Leadership, Stakeholder Management & Community Relations, General Management, Leading Large Scale Organisational Change, Business Improvement, Operations Management (including turn arounds), Capital Projects and Process Design, Key Accounts Management, Financial Management, Business Development, Sales & Marketing and P&L Accountability. I also have Board Experience at Non-Executive Chairman Level in SOE’s, in which I, among other things provided oversight and governance over investment decisions, financial management, and strategic planning and implementation.
I also have a proven track record in Base Metals, Diamonds, and the Original Equipment Manufacturer (Mining Services and Solutions) space in Botswana. My work experience spans from BCL Limited, Debswana Diamond Company (a De Beers Group Company), Bateman Engineering Limited, Discovery Metals Limited, Lucara Diamond Corporation, Joyglobal Inc./Komatsu Mining Corp, to Komatsu Limited. I have significant green field project experience in the diamond mining industry.
I am a holder of the Executive MBA from the Graduate School of Business, University of Cape Town, a Post-Graduate Diploma in Business Administration from the Edinburgh Business School, Heriot Watt University and a Bachelor of Engineering (Hons) degree in Mineral Process Engineering from the Camborne School of Mines. I am also a holder of a Certificate in Financial and Valuation Modelling from the Wall Street Prep Inc., a US based Global Financial Training and Consulting firm, where I acquired foundational skills in Financial and Valuation Modelling. I am also a Certified Financial Modelling & Valuation Analyst (FMVA) and I possess an M&A Professional Certificate from the New York Institute of Finance. I also have certificates in Data Analysis and Digital Transformation Strategy from the University of Cape Town and the Graduate School of Business, University of Cape Town respectively.
ACHIEVEMENTS/EXPERIENCE
1. Enterprise Management - Development and implementation of Komatsu Mining Corp - Botswana growth strategy.
a. Ambition: Over a 5 year period increase sales 2x and achieve a net margin of 20% from a base line of 17.5 %.
b. Actual performance: Sales - 1.7x, Net Margin – 24.5%
Key Leverage Areas: Deepening Customer Relationships, Instilling a High Performance Culture, Driving Profitable Growth, Improving Internal Controls and Sustainability.
2. Greenfield Project Experience – Stakeholder Management and Community Relations, Process Design as Lead Process Engineer, Commissioning and Production at Process Manager Level, Managing EPCM partners; and Permitting Requirements, Mining Lease Applications, Liaison with Local Authorities at General Manager Level.
3. Start-Up Experience – Gained some start up experience as one of the founding board members; and ultimately Board Chairman of the Mineral Development Company Botswana (MDCB). As Board Chairman I was instrumental in, among other things, the review of the mandate to align it to shareholder expectations.
4. Strategy & Management of Subsidiaries- Participated with the board on the development of the company strategy and provided guidance in reviewing the organizational structure, providing oversight over key investment decisions. I was also instrumental in challenging management to develop a robust framework and process to regulate the management of subsidiaries.
5. Investments Decisions and Advise to Government - At MDCB I provided oversight over key investment decisions including the funding of Minergy Coal Botswana with a Convertible Debt Package, advising government not to sell its equity stake in Botswana Ash and not to pay a claim by Norilsk Nickel.
6. Corporate Governance – I initiated through the board a forensic audit to investigate unethical practices and abuse of power by senior executives at the MDCB. A major overhaul of the organization took place as a result and some executives were terminated.
7. Sculpting of Future Leaders - One of my greatest and perhaps most important achievement in my 33-year career in the mining industry is the ‘sculpting of future leaders’, many of whom are at the top of their careers in the mining industry in Botswana and outside the country.
8. Top Talent - Included in the list of Debswana Top Talent. This led to the company sponsoring me for an Executive MBA at the Graduate School of Business, University of Cape Town while I was Assistant General Manager.
9. Relationship Management – As Management Spokesperson of the Joint Negotiating and Consultative Committee (JNCC), a collective bargaining committee for Debswana Diamond Company, I successfully negotiated and concluded a salary increase against a very fragile industrial relations atmosphere during the 2008/9 global financial crisis. I am currently the Komatsu Botswana Management spokesperson.
10. Large Scale Organizational Change - Led a company-wide Shop-floor Improvement Method (Lean) and Shop-floor Operating System at BCL Limited a base metal mine in Botswana. The objective was to build a continuous business improvement capability for the mine and achieve Cost competitiveness – target nickel break-even price of USD 2.25/lb.
11. Projects Leadership - I have successfully led various initiatives at BCL Limited (a base metal mine in Botswana) during the period 1992 - 1997; one of which was successfully leading and executing the warm-up program for the 5th campaign of the Flash Smelting Furnace safely, on time and on budget.
12. Process Design - In 2001 as the Debswana Lead Process Engineer, I was a key member of the process design team that initiated the Integrated DMS Plant Design Concept with Bateman Engineering Limited. This significantly reduced capital expenditure and improved design effectiveness for the BK Kimberlites Projects. I subsequently also led the successful commissioning and production build, reaching name plant capacity safely, on time and below budget.
13. Commissioning and Production Build Up - Led successful commissioning and production build up Karowe diamond mine (Lucara Mining Botswana) 2012 respectively. Plant reached nameplate capacity in record time, on budget and with zero injuries.
14. Operational Excellence - In 2003, I led a diamond processing plant as Plant Manager and achieved the highest tonnage, carats recovered, Recovery, lowest cost of production, highest morale in the history of the plant. The led to the plant team being called the PRODUCTION TEAM OF CHOICE.
15. Turn - around Specialist - In 2004, I was selected by Debswana Group Executive Committee through a recommendation by the Consulting Metallurgist to go and turn around Jwaneng Mine Main Treatment Plant which was performing well below expectations. I successfully led the turn around and within 4 months achieved an overall plant utilization of +75 % from a low of 55 %.
16. Leadership in Difficult Times - Achieved impressive performance for Orapa and Letlhakane Mines in terms of safety leadership, corporate governance, successful management of stakeholder relationships and production during the 2008/09 recession. The mines were awarded the Botswana Chamber of Mines safety shield in 2009 having achieved an LTIFR of 0.05 and were set on a good course for readiness for the upturn, due to among other things, a strong focus on waste stripping while ensuring effective cost management and productivity improvements.
17. Business Knowledge - During this period, I was instrumental in advising and getting support from the MD and Group Executive Committee on which mines and plants to shut down based on a holistic analysis of cost, productivity, and safety.
18. Growth through Learning – From March 2020 to October 2021, I completed various courses – including Data Analysis, Digital Transformation Strategy, Financial Modelling and Valuation, Advanced Valuation and Strategy and M&A Professional Certificate. I have also completed introductory courses on Professional Ethics, Environment, Social and Governance; and Introduction to Capital Markets.
KEY RELATIOSNHIPS & NETWORKS
1. Investment Holding Companies - Strong and deep relationships with the Mineral Development Company Botswana (MDCB), having been in the board for 4 years, 3 of which was at Board Chairman Level.
2. National Service - Since 2014, I have in total reported to a total of 5 Cabinet Ministers in my capacity as Chairman of both the MDCB and the Water Utilities Corporation.
3. Mining Houses - I have strong relationships with most General Managers of Mining companies in Botswana, some of whom are my proteges.
4. Unions - I also have good relationships and I am networked within the Botswana Mine Workers Union and have some deep relationships with some of the executive members of the Union. I am currently the Spokesperson for Komatsu Botswana and I co-chair Meetings between Komatsu and the Botswana Mine Workers Union.
5. State Owned Entities and Regulators- I also have strong and very good relationships within the minerals, water and to some extent in the power sector.
6. Communities - I have deep knowledge of dealing with communities and understand the government structures that are required to successfully reach out to communities.
CAREER PROGRESSION
My career progression to date is detailed below:
1. Chief Executive Officer – MDCB (PTY) LTD 2022 -
2. Director - Surface Mining Komatsu Mining Corp 2015 – 2022
3. Co-founder & CEO Tshwaragano Piping Solutions 2012 – 2015
4. Process Manager Lucara Diamond Corp 2011 – 2012
5. General Manager Discovery Metals Limited 2010 – 2010
6. General Manager Debswana Diamond Company 2008 – 2010
7. Assistant General Manager Debswana Diamond Company 2006 – 2008
8. Divisional Manager – Metal Production BCL Limited 2005 – 2006
9. Business Improvement Manager BCL Limited 2004 – 2005
10. Plant Manager Debswana Diamond Company 2002 – 2004
11. Lead Process Engineer Debswana Diamond Company/ 2000 – 2002
Bateman Engineering Limited
12. Assistant Plant Supt Debswana Diamond Company 1998 – 2000
13. Mineral Process Engineer Debswana Diamond Company 1997 – 1998
14. Production Supt – Concentrator BCL Limited 1995 – 1997
15. Flash Smelting Furnace Supt BCL Limited 1993 – 1995
16. Coal & Drying Plants Supt BCL Limited 1993 – 1993
17. Senior Metallurgical Engineer BCL Limited 1992 – 1993
18. Assistant Govt Mining Engineer Department of Mines 1989 – 1992
19. Metallurgical Graduate Debswana Diamond Company 1988 – 1989
20. Vacation Student Debswana Diamond Company 1987 - 1987
SUMMARY OF ACADEMIC QUALIFICATIONS
1. Executive MBA, UCT Graduate School of Business - RSA 2007/2009
2. Post Grad. Diploma – Business Administration, Edinburgh Business School – UK 1997/1999
3. BEng (Hons); ACSM, Mineral Process Engineering, Camborne School of Mines - UK 1985/1988
4. Certificate - Financial & Valuation Modeling, Wall Streep Prep Inc. - USA 2020
5. Certificate - Data Analysis, University of Cape Town - RSA 2020
6. Certificate - Digital Transformation Strategy, UCT Graduate School of Business - RSA 2020
7. Financial Modeling & Valuation Analyst, Certified by the Corporate Finance Institute – British Columbia, Canada 2020/2021
8. M&A Professional Certificate, New York Institute of Finance 2021
9. Advanced Valuation and Strategy – M&A, Private Equity and Venture Capital, Erasmus University Rotterdam 2021
BOARD EXPERIENCE
I was previously Non-Executive Chairman of the Water Utilities Corporation of Botswana, for a period of 4 years. This is a SOE (State Owned Enterprise) whose mandate is to supply potable and wastewater services to the whole country. I was also previously an independent Non-Executive Chairman of the board of the Minerals Development Company Botswana for 3 years. This is an Investment Holding Company wholly owned by the Government of the Republic of Botswana and is responsible for growing, optimizing and diversifying government mining and minerals investment portfolio. The MDCB is also responsible for providing technical and commercial advice to the government and for facilitating the development of the mining and mineral sector in the country. It is also required to contribute to the socioeconomic development of the country.
I am a High Impact, Seasoned and Commercially astute Mining & Metals Executive with over 30 years’ experience in interalia, People Development, Safety Leadership, Stakeholder Management & Community Relations, General Management, Leading Large Scale Organisational Change, Business Improvement, Operations Management (including turn arounds), Capital Projects and Process Design, Key Accounts Management, Financial Management, Business Development, Sales & Marketing and P&L Accountability. I also have Board Experience at Non-Executive Chairman Level in SOE’s, in which I, among other things provided oversight and governance over investment decisions, financial management, and strategic planning and implementation.
I also have a proven track record in Base Metals, Diamonds, and the Original Equipment Manufacturer (Mining Services and Solutions) space in Botswana. My work experience spans from BCL Limited, Debswana Diamond Company (a De Beers Group Company), Bateman Engineering Limited, Discovery Metals Limited, Lucara Diamond Corporation, Joyglobal Inc./Komatsu Mining Corp, to Komatsu Limited. I have significant green field project experience in the diamond mining industry.
I am a holder of the Executive MBA from the Graduate School of Business, University of Cape Town, a Post-Graduate Diploma in Business Administration from the Edinburgh Business School, Heriot Watt University and a Bachelor of Engineering (Hons) degree in Mineral Process Engineering from the Camborne School of Mines. I am also a holder of a Certificate in Financial and Valuation Modelling from the Wall Street Prep Inc., a US based Global Financial Training and Consulting firm, where I acquired foundational skills in Financial and Valuation Modelling. I am also a Certified Financial Modelling & Valuation Analyst (FMVA) and I possess an M&A Professional Certificate from the New York Institute of Finance. I also have certificates in Data Analysis and Digital Transformation Strategy from the University of Cape Town and the Graduate School of Business, University of Cape Town respectively.
ACHIEVEMENTS/EXPERIENCE
1. Enterprise Management - Development and implementation of Komatsu Mining Corp - Botswana growth strategy.
a. Ambition: Over a 5 year period increase sales 2x and achieve a net margin of 20% from a base line of 17.5 %.
b. Actual performance: Sales - 1.7x, Net Margin – 24.5%
Key Leverage Areas: Deepening Customer Relationships, Instilling a High Performance Culture, Driving Profitable Growth, Improving Internal Controls and Sustainability.
2. Greenfield Project Experience – Stakeholder Management and Community Relations, Process Design as Lead Process Engineer, Commissioning and Production at Process Manager Level, Managing EPCM partners; and Permitting Requirements, Mining Lease Applications, Liaison with Local Authorities at General Manager Level.
3. Start-Up Experience – Gained some start up experience as one of the founding board members; and ultimately Board Chairman of the Mineral Development Company Botswana (MDCB). As Board Chairman I was instrumental in, among other things, the review of the mandate to align it to shareholder expectations.
4. Strategy & Management of Subsidiaries- Participated with the board on the development of the company strategy and provided guidance in reviewing the organizational structure, providing oversight over key investment decisions. I was also instrumental in challenging management to develop a robust framework and process to regulate the management of subsidiaries.
5. Investments Decisions and Advise to Government - At MDCB I provided oversight over key investment decisions including the funding of Minergy Coal Botswana with a Convertible Debt Package, advising government not to sell its equity stake in Botswana Ash and not to pay a claim by Norilsk Nickel.
6. Corporate Governance – I initiated through the board a forensic audit to investigate unethical practices and abuse of power by senior executives at the MDCB. A major overhaul of the organization took place as a result and some executives were terminated.
7. Sculpting of Future Leaders - One of my greatest and perhaps most important achievement in my 33-year career in the mining industry is the ‘sculpting of future leaders’, many of whom are at the top of their careers in the mining industry in Botswana and outside the country.
8. Top Talent - Included in the list of Debswana Top Talent. This led to the company sponsoring me for an Executive MBA at the Graduate School of Business, University of Cape Town while I was Assistant General Manager.
9. Relationship Management – As Management Spokesperson of the Joint Negotiating and Consultative Committee (JNCC), a collective bargaining committee for Debswana Diamond Company, I successfully negotiated and concluded a salary increase against a very fragile industrial relations atmosphere during the 2008/9 global financial crisis. I am currently the Komatsu Botswana Management spokesperson.
10. Large Scale Organizational Change - Led a company-wide Shop-floor Improvement Method (Lean) and Shop-floor Operating System at BCL Limited a base metal mine in Botswana. The objective was to build a continuous business improvement capability for the mine and achieve Cost competitiveness – target nickel break-even price of USD 2.25/lb.
11. Projects Leadership - I have successfully led various initiatives at BCL Limited (a base metal mine in Botswana) during the period 1992 - 1997; one of which was successfully leading and executing the warm-up program for the 5th campaign of the Flash Smelting Furnace safely, on time and on budget.
12. Process Design - In 2001 as the Debswana Lead Process Engineer, I was a key member of the process design team that initiated the Integrated DMS Plant Design Concept with Bateman Engineering Limited. This significantly reduced capital expenditure and improved design effectiveness for the BK Kimberlites Projects. I subsequently also led the successful commissioning and production build, reaching name plant capacity safely, on time and below budget.
13. Commissioning and Production Build Up - Led successful commissioning and production build up Karowe diamond mine (Lucara Mining Botswana) 2012 respectively. Plant reached nameplate capacity in record time, on budget and with zero injuries.
14. Operational Excellence - In 2003, I led a diamond processing plant as Plant Manager and achieved the highest tonnage, carats recovered, Recovery, lowest cost of production, highest morale in the history of the plant. The led to the plant team being called the PRODUCTION TEAM OF CHOICE.
15. Turn - around Specialist - In 2004, I was selected by Debswana Group Executive Committee through a recommendation by the Consulting Metallurgist to go and turn around Jwaneng Mine Main Treatment Plant which was performing well below expectations. I successfully led the turn around and within 4 months achieved an overall plant utilization of +75 % from a low of 55 %.
16. Leadership in Difficult Times - Achieved impressive performance for Orapa and Letlhakane Mines in terms of safety leadership, corporate governance, successful management of stakeholder relationships and production during the 2008/09 recession. The mines were awarded the Botswana Chamber of Mines safety shield in 2009 having achieved an LTIFR of 0.05 and were set on a good course for readiness for the upturn, due to among other things, a strong focus on waste stripping while ensuring effective cost management and productivity improvements.
17. Business Knowledge - During this period, I was instrumental in advising and getting support from the MD and Group Executive Committee on which mines and plants to shut down based on a holistic analysis of cost, productivity, and safety.
18. Growth through Learning – From March 2020 to October 2021, I completed various courses – including Data Analysis, Digital Transformation Strategy, Financial Modelling and Valuation, Advanced Valuation and Strategy and M&A Professional Certificate. I have also completed introductory courses on Professional Ethics, Environment, Social and Governance; and Introduction to Capital Markets.
KEY RELATIOSNHIPS & NETWORKS
1. Investment Holding Companies - Strong and deep relationships with the Mineral Development Company Botswana (MDCB), having been in the board for 4 years, 3 of which was at Board Chairman Level.
2. National Service - Since 2014, I have in total reported to a total of 5 Cabinet Ministers in my capacity as Chairman of both the MDCB and the Water Utilities Corporation.
3. Mining Houses - I have strong relationships with most General Managers of Mining companies in Botswana, some of whom are my proteges.
4. Unions - I also have good relationships and I am networked within the Botswana Mine Workers Union and have some deep relationships with some of the executive members of the Union. I am currently the Spokesperson for Komatsu Botswana and I co-chair Meetings between Komatsu and the Botswana Mine Workers Union.
5. State Owned Entities and Regulators- I also have strong and very good relationships within the minerals, water and to some extent in the power sector.
6. Communities - I have deep knowledge of dealing with communities and understand the government structures that are required to successfully reach out to communities.
CAREER PROGRESSION
My career progression to date is detailed below:
1. Chief Executive Officer – MDCB (PTY) LTD 2022 -
2. Director - Surface Mining Komatsu Mining Corp 2015 – 2022
3. Co-founder & CEO Tshwaragano Piping Solutions 2012 – 2015
4. Process Manager Lucara Diamond Corp 2011 – 2012
5. General Manager Discovery Metals Limited 2010 – 2010
6. General Manager Debswana Diamond Company 2008 – 2010
7. Assistant General Manager Debswana Diamond Company 2006 – 2008
8. Divisional Manager – Metal Production BCL Limited 2005 – 2006
9. Business Improvement Manager BCL Limited 2004 – 2005
10. Plant Manager Debswana Diamond Company 2002 – 2004
11. Lead Process Engineer Debswana Diamond Company/ 2000 – 2002
Bateman Engineering Limited
12. Assistant Plant Supt Debswana Diamond Company 1998 – 2000
13. Mineral Process Engineer Debswana Diamond Company 1997 – 1998
14. Production Supt – Concentrator BCL Limited 1995 – 1997
15. Flash Smelting Furnace Supt BCL Limited 1993 – 1995
16. Coal & Drying Plants Supt BCL Limited 1993 – 1993
17. Senior Metallurgical Engineer BCL Limited 1992 – 1993
18. Assistant Govt Mining Engineer Department of Mines 1989 – 1992
19. Metallurgical Graduate Debswana Diamond Company 1988 – 1989
20. Vacation Student Debswana Diamond Company 1987 - 1987
SUMMARY OF ACADEMIC QUALIFICATIONS
1. Executive MBA, UCT Graduate School of Business - RSA 2007/2009
2. Post Grad. Diploma – Business Administration, Edinburgh Business School – UK 1997/1999
3. BEng (Hons); ACSM, Mineral Process Engineering, Camborne School of Mines - UK 1985/1988
4. Certificate - Financial & Valuation Modeling, Wall Streep Prep Inc. - USA 2020
5. Certificate - Data Analysis, University of Cape Town - RSA 2020
6. Certificate - Digital Transformation Strategy, UCT Graduate School of Business - RSA 2020
7. Financial Modeling & Valuation Analyst, Certified by the Corporate Finance Institute – British Columbia, Canada 2020/2021
8. M&A Professional Certificate, New York Institute of Finance 2021
9. Advanced Valuation and Strategy – M&A, Private Equity and Venture Capital, Erasmus University Rotterdam 2021
BOARD EXPERIENCE
I was previously Non-Executive Chairman of the Water Utilities Corporation of Botswana, for a period of 4 years. This is a SOE (State Owned Enterprise) whose mandate is to supply potable and wastewater services to the whole country. I was also previously an independent Non-Executive Chairman of the board of the Minerals Development Company Botswana for 3 years. This is an Investment Holding Company wholly owned by the Government of the Republic of Botswana and is responsible for growing, optimizing and diversifying government mining and minerals investment portfolio. The MDCB is also responsible for providing technical and commercial advice to the government and for facilitating the development of the mining and mineral sector in the country. It is also required to contribute to the socioeconomic development of the country.
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