Friday, February 22, 2019
Dennis Tucker

Dennis Tucker

Qinisele Resources

DENNIS Tucker, a former mine manager and analyst, has been the presence behind some of South Africa’s most important mining transactions in the last 12 months, largely owing to his enduring relationship with Sibanye Gold CEO, Neal Froneman. In an interview with Miningmx last year, Froneman disclosed that Tucker’s Qinisele Resources was prominent in strategy formation for Sibanye which has seen it diversify into platinum and, possibly, coal. There are still quite a few resources bankers around in South Africa – notwithstanding the depressed state of the market – but few (if any) have the entrepreneurial esprit de corps of Tucker and his team. In addition to advising Sibanye Gold on its R8.5bn purchases of Rustenburg Mines and Aquarius Platinum, Qinisele has also assisted with the development of the Lace diamond mine by DiamondCorp. Keaton Energy, Coal of Africa and Village Main Reef are other clients. Tucker is abrasive and passionate about certain sectoral themes of which breaking down farm boundaries is perhaps his pet obsession and the most zealously argued, even it means puncturing a few executive egos along the way.


Unlike many-a merchant banker in the mining field, Tucker actually worked as a mine manager – Stilfontein and St. Helena – for more than a token year (eight in total). He was also a corporate banker for Investec from 2003 to 2006, and a stockbroker and sell-side analyst for Fleming Martin in the Nineties. He has had a stab at an independent corporate financing company before but Qinisele Resources is his best invention to date. It is alleged he was a handy defender of the ‘they-shall-not-pass’ variety when he turned out for the memorable football team ‘Rest of Africa’