Chamber of Mines of South Africa
MIKE Teke crossed the rubicon in his annual address as Chamber of Mines president last year asking the rhetorical question as to whether South Africa was a preferred mining destination anymore. The answer hung in the air as a soundless ‘No’. Normally, a soother of relations, Teke hit out at the deterioration in business climate, even labelling the government’s proposed Carbon Tax “an absurdity”. The chamber has been criticised for its lame duck approach to industry conflict, but Teke bared the chamber’s teeth. Since that address in May 2015, the issues plaguing the sector have, on balance, worsened. The extent to which Teke takes this fight for the sector forward will be a must-watch moment in South Africa’s mining sector this year. Teke is also the chairman of Richards Bay Coal Terminal (RBCT) which last year unveiled a R1.34bn equipment upgrade, but which is challenged by poor coal prices. Teke is an entrepreneur in his own right with a thermal coal property in the Waterberg coalfields in Limpopo province. But his largest interest outside the chamber is the chairmanship of Masimong Group which in November bought a 51% stake in Liviero Group, a contracting firm. Teke also increased Masimong’s stake in Rolfes Holdings enabling it to buy Bragan Chemicals, a large food chemicals business.
LIFE OF MIKE
Teke says he owes his core principles of humility and respect to his grandmother who brought him up when he was orphaned. He trained as a teacher, but moved into human resources working for Impala Platinum, Bayer and Samancor. As CEO of Optimum Coal he presided over its buyout by Glencore. He holds an MBA from Unisa.
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