Presentation to Parliamentary Portfolio Committee 7 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 Income Core Funding Earmarked funding Own income Expenditure Staff costs Overheads & operating costs Surplus3.04.1

Balanced Scorecard Approach To succeed financially, how should we appear to our shareholders? Financial - 1 Objective Actual 2005/6 Target 2006/7 Actual 2006/7 To achieve our vision, how will we sustain our ability to change & improve? Learning & Growth - 3 Objective Actual 2005/6 Target 2006/7 Actual 2006/7 To achieve our vision, how should we appear to our customers? Customer - 2 Objective Actual 2005/6 Target 2006/7 Actual 2006/7 To satisfy our shareholders & customers, what business processes must we excel at? Internal Bus Process - 4 Objective Actual 2005/6 Target 2006/7 Actual 2006/7

Financial Perspective - 1 Objective Actual 2005/6 Target 2006/7 Actual 2006/7 Financial Sustainability Parliamentary grant R95.5mR104.1m Earmarked funding R9.1mR11.4mR24.5m External contract funding R152.8mR166.0mR168.9m Total Income R285.3mR297.8mR320.1m 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 AFS200 Value of fraudulent paymentsR0m 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 R95.5mR73.0mR104.1m Export of Mintek’s mineral technologies #R6.0mR17.5m Projects supporting the SADC and NEPAD R3.4mR2.8mR4.9m Projects on ASSM and rural development R6.1mR18.4mR17.7m Number of ASSM and jewellery trainees Develop gold jewellery nodes 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 Output Total scientific documents Documents per person-year Strategic alliances with other S&T bodies 5711 Projects with external collaborators HR Development Masters and PhD researchers Postgraduate bursars Undergraduate bursars Trainees and Interns Knowledge Retention Professional 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, & Health ISO 9001, 14001, OHSAS certification Work related fatalities 000 Lost time injury frequency rate 1.7< Incidents of environmental non- compliance 000 Transformation % Black researchers & managers 37%40% % Woman researchers & managers 35%31% % Black trainees & interns #98% % Female trainees & interns #52%59% % Disabled employees 1.2%1.0% % BEE Procurement Spend #18%17%

Mintek Bursars

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