“Last year this time, we stated that Mintek seems to have weathered the storm in terms of its finances and that the worst was over. Our assertion has been vindicated as Mintek has made a remarkable turnaround and achieved impressive financial results this year. This was in spite of the operational challenges that the company was faced with during the year. These results illustrate that the strategic review process, which continued to be implemented during the year, is bearing fruit, and so is the management’s decision to focus on marketing the organisation and its innovations, products, services and technologies. The achievement of these results contributes to building the organisation’s credibility and reputation.”
Mr Mohau Mphomela, Chairman of the Board, Mintek.
“Mintek continued to remain solid throughout the year, in spite of various challenges and global economic uncertainties. The sacrifices we had to make and tough decisions taken during the difficult previous years have paid off much sooner than anticipated. throughout the year, Mintek managed to record a better than budgeted for income, mainly due to unexpected work received, benefits received from prior research work in the form of licence fees and the rescheduling of contract research work. The demand for commercial work continues to be strong, a number of business units are fully booked for up to six months ahead and a number of project proposals continued to be received up to the end of the financial year. Hopefully these developments will create a pipeline of projects that are sustainable in the medium to long term.”
Mr Abiel Mngomezulu, President and CEO, Mintek.