Subscribe to this channel

You can subscribe to new audio episodes published on this channel. You can follow updates using the channel's RSS feed, or via other audio platforms you may already be using.

RSS Feed

You can use any RSS feed reader to follow updates, even your browser. We recommend using an application dedicated to listening podcasts for the best experience. iOS users can look at Overcast or Castro. Pocket Casts is also very popular and has both iOS and Android versions. Add the above link to the application to follow this podcast channel.

Signup to iono.fm

Sign up for a free iono.fm user account to start building your playlist of podcast channels. You'll be able to build a personalised RSS feed you can follow or listen with our web player.
11
NOV
2020

Reflections on the SA Mining Industry and the Government’s impact

On the same day that Minister of Mineral Resources Gwede Mantashe lashed out at Neal Froneman of Sibanye-Stillwater for his criticism of the government, Rutherford shared some of his reflections about the SA mining industry and the government’s impact. When a critic with no other agenda calls it as he sees it, his authenticity makes it hard to ignore. Listen to Rutherford’s views in this short clip.
11
NOV
2020

Capital allocation: a lone, early voice from London

Way before capital allocation was even a thing, a visit to Rutherford’s offices in London would not be complete without a deep and often fractious debate about value creation, sustainability and of course, capital allocation. It’s no surprise that we revisit this topic in this short clip where I ask Rutherford to reflect on how the capital allocation conversation has progressed over the years, both in the industry and at the Joburg Indaba.
11
NOV
2020

Jim Rutherford: Did the poacher turn gamekeeper?

During his 15 years as a sell-side analyst, Jim Rutherford emerged as a significant force in the world of mining, including in South Africa, as part of the US-based investment firm Capital Group. Rutherford was largely responsible for the company’s global investments in the metals and mining industry. Then, seven years ago, he made the move to the “dark side” - his words - to take on several board positions, the most prominent one - in the SA context - being Anglo American plc. Listen to this 15-minute clip to find out how Rutherford got involved in mining by accident, and yet managed to make his mark on the industry in a significant way for four decades. As we have come to expect over the years, Rutherford gives some sound and blunt advice to current mining executives and investors alike.
11
NOV
2020

Dealing with mining’s men

So much of a leader’s role is to engage with her people. Mining makes this even more challenging due to the tough conditions, skeptical audiences and language barriers. Listen to Naidoo’s response to my question about engaging the “manne” at the coal face.
11
NOV
2020

Role of mentors

Listen to Naidoo’s insights about what she has learned about leadership from mentors like Cynthia Carroll and Tom Albanese, among others.
11
NOV
2020

Testimony of perseverance

Naidoo’s journey from her roots in Phoenix, in KwaZulu-Natal, all the way to the executive suites of the mining industry is a testimony to perseverance, deliberateness and hard work, but also the story of a humble leader who acknowledges the contribution of many others in her success. Listen to Naidoo’s journey to the top in this clip.
11
NOV
2020

The daughter of Kamala

While the thought of a “liberal” American vice president may make some readers distinctly uncomfortable, VP-elect Kamala Harris has cracked, if not shattered a significant glass ceiling for women worldwide.

In the days following the US election, TV stations aired stories of emotional parents sharing their daughters crying with joy at seeing someone just like them, about to occupy one of the highest offices in the world. Female leaders who break through the glass ceiling to enter into leadership positions in male-dominated worlds like politics, business and mining, of course, do indeed carry a huge responsibility .

Just over a year ago, I was one of the guests invited to the official opening of the Gamsberg zinc mine in the Northern Cape. What stood out for me was that apart from the expected list of dignitaries (including President Cyril Ramaphosa) Deshnee Naidoo, the young CEO of Vedanta International was accompanied at one of the main tables by her husband, her kids and her parents. Not quite the norm for industry functions.

Sometimes actions speak louder than words: what Naidoo demonstrated that day, without saying a word, was that despite the presence of the president of South Africa, her boss, industry dignitaries, employees and local community leaders, her role as a daughter, a wife and a mother was just as important as her role as CEO.

I will never forget the pride in the eyes of Naidoo’s mother, Ms Kamala Maduramutha, when I met her that day. This “daughter of Kamala” is a role model for all, not least many young women in the mining industry!

Listen to Deshnee’s response about being a role model for women in mining.
05
NOV
2020

The last word

The last word goes to Jongisa Magagula of ARM who shares how a diversified SA-based mining company thinks about dividends.
05
NOV
2020

The big D-debate!

In the gold mining industry that I grew up in, two unquestionable truths predominated. On the one hand you had the mining company executives’ mantra of “anyone who pays dividends doesn’t understand (gold) mining”, and on the other was the mining investors’ response to dividends:
“Why are you returning capital, are you ex-growth?” The good old days are no more!
Rothschild & Co Snr Advisor Mining, Fiona Perrot-Humphrey, asks Douglas Upton (Investment Analyst & Partner, Capital Global London) and George Cheveley (Portfolio Manager, Ninety One) whether they think mining companies have successfully reinvented themselves as annuity income investments. Not quite yet!
05
NOV
2020

How to create capital in uncertain times

One of my favourite sessions involves former AngloGold Ashanti CEO Srinivasan “Venkat” Venkatakrishnan. Perhaps being in lockdown in London, away from his Joburg-based family, is to blame for his insight and wisdom regarding how this pandemic will impact on capital allocation in the mining industry.
He highlights how the scale, duration and global impact of the pandemic will change how mining companies structure their portfolios, think about flexibility and stress-test their plans.
I love it when in a moment of reflective wisdom, he echoes Mick Davis’ point that empowered employees are critical in order for companies to increase their creation of capital during uncertain times.
05
NOV
2020

How South32 does it

Mike Fraser, the COO of South32, shares the miner’s approach to capital allocation. South32 has a clear framework and all capital allocation is governed by that. He addresses the disposal of the SA coal assets to Seriti, and South32’s plans for ferrochrome and their investment in new mines as part of a portfolio balancing-andoptimisation process.
05
NOV
2020

Where will the growth come from?

It’s worth listening to Olivia Markham (Managing Director, Natural Resources, BlackRock) sharing her views about how the mining industry has managed to get its house in order.
She talks about how the industry progressed from ill-advised capital allocation to M&A projects, to clear policies and consistent behaviour during the boom times of 2017/18.
But, in her opinion, most mining companies are not investing enough in growth.

38 episodes

« Back 1—12 More »