PGMs: Rearranging the value chain
Friday 16th May, The Sheldonian Theatre, University of Oxford
In 2014, SFA (Oxford) was proud to celebrate five years of hosting the Oxford Platinum Lectures. On the eve of Platinum Week, SFA bought together, some of the world’s leading experts from across the PGM value chain to discuss the fundamental transformation through which the global sector is going with some fascinating presentations. From regional shifts in supply to new frontiers in exploration; from the birth of the proxy producer to the growth of the demand giant; all of this and more was discussed and debated with a panel of esteemed speakers. This is an effort to offer some kind of clarity in an otherwise opaque industry, where we are all working together for a sustainable industrial future, and a more cohesive industry built on a foundation of close partnerships within the rearranged value chain.
Given the challenges, the PGM industry continues to face from strike-stricken South Africa, flagging European demand market, and the political powder keg that now threatens to upset Russian palladium supply, the ongoing transformation gives rise to many interesting questions, not least ones relating to its participants, and whether those leading PGMs today, will be the same ones at its fore tomorrow.
We hosted companies and individuals both from around the world – South Africa, Japan, the US, and Europe – and from across the PGM value chain.
Our audience was heavily skewed (around 45%) towards the investment community, a group we know has been hit heavily by the decline of the traditional investment vehicles as the value chain continues to rearrange itself in the wake of industrial fragmentation and widespread uncertainty.
Our guest speakers
Stephen A. Forrest, Chairman, SFA (Oxford) Ltd.
Stephen Forrest, one of the PGM industry’s foremost authorities, known universally for his value-chain-spanning expertise, has spent a career working for a portfolio of the leading mining, investment bank and trading companies and clients. In more recent years, he has become the analytical link between producer and end-user, processor and investor, as Chairman of SFA (Oxford), the leading consultancy he set up in 2001.
Jean Nel, Chief Executive Officer, Aquarius Platinum
Jean Nel has been with Aquarius Platinum since late 2011, joining the Board of AQPSA in January 2012, and was appointed to the Aquarius Platinum board in April 2012, becoming Chief Executive Officer of the Group in November 2012.
Jean holds both an Accounting degree and an Honours degree in Accounting from the University of Stellenbosch, has completed articles with Deloitte & Touche, and qualified as a CA(SA).
Following this, he worked for organisations such as Investec, Aflease Gold, and Namakwa Diamonds in various senior positions.
Andrew Hinkly, Executive Head: Marketing, Director of Subsidiaries, Anglo American Platinum
Andrew joined Anglo American plc in 2008 as Group Head: Procurement and Supply Chain. He led the transformation of Anglo American's global purchasing, achieving over $1 billion of recurring value by 2011.
Prior to joining Anglo American, Andrew worked for the Ford Motor Company for 20 years, during which time he obtained extensive global experience in finance, purchasing, strategy and new market development.
Vaishali Banerjee, Country Manager (India), Platinum Guild International
Since its inception in 2000, Vaishali has spearheaded the Indian operations for Platinum Guild International with the mandate of developing the platinum jewellery market in India.
Prior to Platinum Guild, Vaishali worked with leading advertising and marketing companies in India. She has had the opportunity to lead brands across diverse categories and countries within the Indian sub-continent and the Middle East.
Vaishali has extensive experience in market orientation and audience analysis, along with an understanding of the lifestyle, beauty, and luxury categories in India, and a passion for jewellery. Under her leadership, PGI India delivers the overall marketing, trade and business development strategies and programmes to grow the Indian platinum jewellery market.
Terry Shindo, Manager of Precious Metals, Sojitz Corporation
Since May 2012, Terry Shindo has been Manager of the Precious Metals Section of Sojitz Corporation in Tokyo, which counted as one of the largest general trading companies in Japan. Sojitz is engaged in a wide range of businesses globally in the field, ranging from automobiles, plants, energy, mineral resources, chemicals, foodstuff resources, agricultural and forestry resources, consumers goods to industrial parks. Terry's section is trading physical metals in and out of Japan, including metals recovered from recycled jewellery.
Dr James Motlatsi, Chairman, TEBA Limited (The Employment Bureau of South Africa) / Shanduka Group
As a founder member of the Congress of South African Trade Unions and the National Union of Mine Workers, Dr James Motlatsi has a long and storied history having played a significant role in the growth of the country's mining industry. Presently serving both as Executive Chairman of TEBA Limited and as Chairman of Shanduka Group, James's CV is that of a man who has worked both the boardroom and the state room. He is also a respected academic – a Doctor of Philosophy in Social Sciences.
As particular points of pride, James was also a member of the Mandela Reception Committee and the Govan Mbeki and Walter Sisulu Reception Committee, as well as Chairing the Chris Hani Burial Committee.
Beresford Clarke, Managing Director and Head of Research, SFA (Oxford) Ltd
Beresford’s principal remit is to service SFA (Oxford)'s wide range of clients worldwide. He has responsibility for the analyst team, product delivery and innovation, and is the lead research author. Beresford has been a metals market analyst for 12 years, covering platinum-group metals on a daily basis on behalf of clients, but also providing in-depth analysis on the lithium, cobalt, gold and other commodity markets.
The Platinum Standard 2014
In addition, Beresford Clarke presented the latest issue of The Platinum Standard. This highly sought-after publication provides SFA’s market view and collates all the key industry data and indicators for the past 12 months.
History of the Oxford Platinum Lectures
Since SFA (Oxford)'s first event in 2010, the Oxford Platinum Lectures have become an annual staple of the London Platinum Week calendar. Here you can read up on the history of on SFA's annual event that brings together individuals from companies representing the entire platinum industry value chain.