Electronic Theses and Dissertations (Masters)

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Financial Evaluation of Implementing In-Pit Crushing and Conveying Systems for Waste on Open Pit Mines
(University of the Witwatersrand, Johannesburg, 2024) Serepa, Ikaneng; Emwanu, B.
The South African mining industry has faced mounting challenges, especially rising expenses that threaten profitability. These escalating costs, driven by various factors including operational expenses such as mining costs, are critical. The distribution of mining costs across activities within the production cycle is crucial, with hauling operations in open pit mines representing a significant portion, as noted by Paricheh et al (2017) at 49%. Due to the substantial economic impact of hauling expenses on mining expenditures, there's a strong incentive to streamline these operations to lower overall costs effectively. Current research highlights a noticeable transition in the mining sector towards embracing in-pit crushing and conveying (IPCC) systems in open pit mines, acclaimed as a cost-effective substitute for conventional truck and shovel (CTS) systems (Awuah-Offei et al, 2009). This research assessed both the integration and financial viability of implementing a waste IPCC system in the loading and hauling operations of an open pit mine. A mixed-methods approach, combining quantitative data from production records and costs with qualitative insights from expert interviews was used. The findings of this research indicate that while the IPCC system can be integrated, there remains a degree of reliance on the CTS system for material transportation from the pit to the IPCC system. For the CTS system, 55 rigid dump trucks (RDTs) are required, constituting 57% of the initial capital expenditure of R1.27 billion. Conversely, the IPCC system requires only 31 RDTs, accounting for 29% of the initial capital costs of R1.37 billion. However, despite the substantial reduction in RDTs, the IPCC system requires significant investment in a crusher and conveyor belt system for waste management, which constitutes 32% of its capital costs. Examination of the operating costs over the life of the mine indicates that there are no cost advantages associated with operating an IPCC system compared to the CTS system. Operating expenses for the IPCC system exceed those of the CTS system by 58%, predominantly driven by the operational costs of the crusher and belt system, contributing to 67% of the IPCC system's costs. The financial assessment results show a positive and acceptable net present value (NPV), internal rate of return (IRR), and payback period for both systems. Nevertheless, the CTS system exhibits superior financial performance, with a NPV of R7.45 billion, an IRR of 83.1%, and a shorter payback period of 1.2 years, and is recommended as a viable option for the mine.
The development of cannabis in emerging markets- Evaluating the prospective value chain, market accessibility, and commercialisation
(University of the Witwatersrand, Johannesburg, 2024) Rapetsoa, Maisaaya Hellen; Emwanu, B.
In recent years, the significance of small businesses in the growth of developing economies has been acknowledged, along with their ability to foster social development, create employment opportunities, advance innovations, and contribute to economic growth. The agricultural sector serves as a catalyst in building a strong economy by increasing income and employment opportunities for the poor while nurturing natural resources. This is evidenced by the vision stated in the Government’s National Development Plan (NDP), which proposes to create close to 1 million jobs by 2030 within the agricultural sector. This study aimed to determine the “strategic interventions required to ensure that South Africa is aligned with the regulatory, social, economic, and knowledge base needed for the effective commercialisation of the cannabis market”. In doing so, knowledge experts were consulted through open-ended interviews to ascertain their views on the growth and trajectory of cannabis as an economic driver. This qualitative study adopted the Wengraf pyramid model to relate the “progression from the Central Research Questions (CRQ) differentiated into several Theory Questions (TQ) and the particular Interview Questions (IQ) and the non-verbal Interview Interventions (II)” (Wengraf, 2001). The selected qualitative method was best suited for this research as it assisted in breaking ground on themes that have limited literature, such as the current research. The data was collected from subject matter experts through open-ended interviews, allowing the participants to freely express and share their knowledge, views, and experiences. An ‘inductive content analysis’ method was used to analyze the data by transcribing and coding the information to identify common themes, links, and categories and gain more understanding of the data received. The study claimed that cannabis has the potential to uplift the economy and alleviate poverty through its commercialisation and that the legal frameworks or lack thereof pose a barrier to the growth and development of this market. The research revealed that there is a greater gap in the market where the knowledge, expertise, and financial instruments are being underutilized therefore rendering South Africa a laggard with considerable ramifications for our global competitiveness. With much at stake and our staggering economy, the common theme was that erratic and deliberate action is required especially in a market where other countries that have legalized cannabis appear to be well under control and thriving. Cannabis has become one of the biggest disruptors of mainstream industries over the last decade, impacting sectors from pharmaceutical, food, and wellness to cosmetics. The subject experts collectively agreed that South Africa is missing out on a multibillion-dollar opportunity.