Naledi Mining Services, a subsidiary of Debswana has started from ground zero to over P350 million in annual revenue. With a fresh strategy, and having achieved most of its targets in a year, the company aims to grow revenue three folds in three years. Business Editor, KOOBONYE RAMOKOPELWA speaks to founding head, Bokang Thitoyamore on what the future holds for this ambitious company.
Debswana, the rough diamond producer owned by Botswana government and De Beers group, took the market by surprise sometimes in September 2022, when they decided to form Naledi Mining Services, which provides mining related services.
For decades, and as long as Debswana operated, it has depended on external companies, mainly foreign-owned, to provide major mining services, more especially on its multi-billion Pula projects.
The best example being the P24 billion Cut 8 project in Jwaneng, the biggest, and most profitable mine within its stable. Of course, such a bold move did not sit well with those who, for years have been enjoying unfettered opportunities to the mouth-watering mining services contracts often provided by Debswana.
Naledi Mining Services was incorporated in August 2022, but started operating in January 2023. The company offers expertise of management of mining operations and the provision of skilled labour to the mining industry. Additionally, the company specialises in delivering maintenance services for Earth Moving Vehicles-ensuring the efficient and uninterrupted functioning of vital machinery. On this sunny Thursday morning in the mining town of Jwaneng, the Botswana Guardian team, has a scheduled interview with the man who has been handpicked to establish Naledi Mining Services - Bokang Thitoyamore. The interview takes place exactly a year since the company was established.
In business 12 months is regarded as a long time. Anything can happen, for good or bad. Thitoyamore begins by sharing their milestones in the period under review. “It has been an exciting 12 months if you look at where we started off as Naledi and where we are today. There have been a number of strides in making sure the company grows,” he said proudly. “If you look at the number of employees that we currently have, 1 100, it means we have hired almost 100 employees each month since inception. There have been a lot of targets that we have set ourselves and most of them have been achieved,” the buoyant Thitoyamore, himself a former Senior Mining Manager (Cut 9) in Jwaneng mine, disclosed.
Perhaps the biggest target that the company set and achieved, is the P350 million annual revenue. “We have surpassed the revenue target,” emphasised Thitoyamore, without stating the exact amount they have netted. The company was formed without any initial capital investments. “I think it’s a company that was born to survive on its own,” he said. What has been even more surprising is the fact that the company has managed to make some milestones even though they did not have a properly laid out corporate strategy. The first of its kind three-year strategy, kicked off in January 2024, he disclosed. Under the new strategy, Naledi Mining Services plans to have an annual revenue of P1 billion until the end of the strategy in 2026. In addition, the company also seeks to have high value clients, that is, clients who can be able to give them jobs worth P100 million per annum. “We just need at least five high value clients," Thitoyamore, a graduate of mining engineering from Wits University in South Africa, said.
The company will also be on the lookout for other clients, who are not necessarily high value. Naledi Mining Services, a greenhorn in the multi-billion Pula mining services sub-industry, comes at a time when market trends are currently playing out and will definitely test its mettle. Thitoyamore said they are watching the market trends closely. He told Botswana Guardian that the mining services industry, now, more than ever before, is concerned about green technology, sustained mining practices and increased reliance on technology. “We really need to also embrace technology as everything is going towards that direction. Technology is key to productivity and efficiency. You cannot divorce these from any mining operations. Technology plays a role on Key Performance Indicators (KPIs) within a mining operation."
To further ensure they are well resourced on latest mining technologies, the company has also enrolled six of their staff members in Australia for mining degrees that are technologically driven.
In terms of skills set, the company is well prepared. Thitoyamore said they are preparing their workforce on the skills they will need, as more and more mines are now going underground, from open pit - Jwaneng and Lucara’s Karowe mines being the latest examples. Nonetheless, what will continue to be the cornerstone of the company’s strategy will be partnerships and collaborations.
The mining industry in Botswana is shifting to underground from open pit method. This obviously calls to mind safety issues which Naledi Mining Services is seized with. “We can’t talk about mining without safety. They go hand in hand and they don’t go parallel,” he said. Naledi Mining Services continuously engages staff on psychosocial related matters. The company has a well-designed welfare programme that addresses matters relating to safety and welfare. In their first year of operation, the company recorded a single recordable injury. “We aim for a to have zero harm.” The company also considers the environment it operates especially since they are ISO certified, hence they continue to engage stakeholders on matters relating to the environment.
From the engagements, they have managed to pick up that waste management is a key challenge in surrounding areas of Jwaneng, and are now actively participating on initiatives such as ‘100 days of clean environment in Jwaneng’ to demonstrate commitment to sustainability. The world over, mining houses, which Naledi Mining Services works with, are required to have proper Environmental, Social and Governance (ESG) principles which guide them on a day-to-day basis. Thitoyamore explained that ESG principles have been fully incorporated in the company. He explained that over 64 percent of the current generation wants to know where the products they purchase come from, and whether they have been ethically sourced or not. All these fall under the ESG principles, which as a mining services adheres to, he said.
The company also has a social obligation to provide meaningful job opportunities to the communities they operate in. Thitoyamore stressed that this obligation stems from the fact that most of the social problems are caused by high unemployment rates both here and in Africa. To protect the environment from effects such as global warming or climate change impact, companies have put resources towards green technologies across operations. Naledi Mining Services also takes mining risk seriously. The company discussed in detail the impact of enterprise risk management in the recent board meeting. The company has since hired a consultant to deal with this aspect of risk management, at the earliest stage possible.
As things stand, Naledi Mining Services only serves Debswana, which is a rough diamond company. Whether there are any plans to move out of Botswana or even explore opportunities in other markets Thitoyamore says their business goals strategy has no limitation. "It goes beyond Debswana, the country and even Africa. It is a global strategy that seeks to set us among the best mining services providers,” Thitoyamore enthused.
In the 12 months that the company has been in operation, it has assumed the mining of Debswana Jwaneng Mine Cut 9, a project valued at $2 billion.
At the launch of the company, Debswana head of technical services, Bakani Motlhabani stressed the point of expansion and diversification. "We do believe that Naledi will contribute significantly to the mining services industry that will mushroom in Botswana, beyond Jwaneng Cut 9. The intention is for the organisation to look for other opportunities, not only in Debswana, but in the whole mining industry and beyond the borders of Botswana to provide bespoke mining services."
The company’s business development function, has already done preliminary research on emerging markets on areas to quickly jump into. The company is targeting all clients, small, medium and large mines.
The Naledi Mining Services head said they want to also target companies, which do not operate with the diamond mining industries. Looking into the crystal ball, Thitoyamore sees a more diversified company in the next three to five years.
“We want people to look at Naledi Mining Services and see a company with limitless opportunities both in Botswana and elsewhere,” he said confidently, adding that on a personal note, he desires to one day see Naledi Mining Services delivering the same revenue as Debswana.
For decades, and as long as Debswana operated, it has depended on external companies, mainly foreign-owned, to provide major mining services, more especially on its multi-billion Pula projects.
The best example being the P24 billion Cut 8 project in Jwaneng, the biggest, and most profitable mine within its stable. Of course, such a bold move did not sit well with those who, for years have been enjoying unfettered opportunities to the mouth-watering mining services contracts often provided by Debswana.
Naledi Mining Services was incorporated in August 2022, but started operating in January 2023. The company offers expertise of management of mining operations and the provision of skilled labour to the mining industry. Additionally, the company specialises in delivering maintenance services for Earth Moving Vehicles-ensuring the efficient and uninterrupted functioning of vital machinery. On this sunny Thursday morning in the mining town of Jwaneng, the Botswana Guardian team, has a scheduled interview with the man who has been handpicked to establish Naledi Mining Services - Bokang Thitoyamore. The interview takes place exactly a year since the company was established.
In business 12 months is regarded as a long time. Anything can happen, for good or bad. Thitoyamore begins by sharing their milestones in the period under review. “It has been an exciting 12 months if you look at where we started off as Naledi and where we are today. There have been a number of strides in making sure the company grows,” he said proudly. “If you look at the number of employees that we currently have, 1 100, it means we have hired almost 100 employees each month since inception. There have been a lot of targets that we have set ourselves and most of them have been achieved,” the buoyant Thitoyamore, himself a former Senior Mining Manager (Cut 9) in Jwaneng mine, disclosed.
Perhaps the biggest target that the company set and achieved, is the P350 million annual revenue. “We have surpassed the revenue target,” emphasised Thitoyamore, without stating the exact amount they have netted. The company was formed without any initial capital investments. “I think it’s a company that was born to survive on its own,” he said. What has been even more surprising is the fact that the company has managed to make some milestones even though they did not have a properly laid out corporate strategy. The first of its kind three-year strategy, kicked off in January 2024, he disclosed. Under the new strategy, Naledi Mining Services plans to have an annual revenue of P1 billion until the end of the strategy in 2026. In addition, the company also seeks to have high value clients, that is, clients who can be able to give them jobs worth P100 million per annum. “We just need at least five high value clients," Thitoyamore, a graduate of mining engineering from Wits University in South Africa, said.
The company will also be on the lookout for other clients, who are not necessarily high value. Naledi Mining Services, a greenhorn in the multi-billion Pula mining services sub-industry, comes at a time when market trends are currently playing out and will definitely test its mettle. Thitoyamore said they are watching the market trends closely. He told Botswana Guardian that the mining services industry, now, more than ever before, is concerned about green technology, sustained mining practices and increased reliance on technology. “We really need to also embrace technology as everything is going towards that direction. Technology is key to productivity and efficiency. You cannot divorce these from any mining operations. Technology plays a role on Key Performance Indicators (KPIs) within a mining operation."
To further ensure they are well resourced on latest mining technologies, the company has also enrolled six of their staff members in Australia for mining degrees that are technologically driven.
In terms of skills set, the company is well prepared. Thitoyamore said they are preparing their workforce on the skills they will need, as more and more mines are now going underground, from open pit - Jwaneng and Lucara’s Karowe mines being the latest examples. Nonetheless, what will continue to be the cornerstone of the company’s strategy will be partnerships and collaborations.
The mining industry in Botswana is shifting to underground from open pit method. This obviously calls to mind safety issues which Naledi Mining Services is seized with. “We can’t talk about mining without safety. They go hand in hand and they don’t go parallel,” he said. Naledi Mining Services continuously engages staff on psychosocial related matters. The company has a well-designed welfare programme that addresses matters relating to safety and welfare. In their first year of operation, the company recorded a single recordable injury. “We aim for a to have zero harm.” The company also considers the environment it operates especially since they are ISO certified, hence they continue to engage stakeholders on matters relating to the environment.
From the engagements, they have managed to pick up that waste management is a key challenge in surrounding areas of Jwaneng, and are now actively participating on initiatives such as ‘100 days of clean environment in Jwaneng’ to demonstrate commitment to sustainability. The world over, mining houses, which Naledi Mining Services works with, are required to have proper Environmental, Social and Governance (ESG) principles which guide them on a day-to-day basis. Thitoyamore explained that ESG principles have been fully incorporated in the company. He explained that over 64 percent of the current generation wants to know where the products they purchase come from, and whether they have been ethically sourced or not. All these fall under the ESG principles, which as a mining services adheres to, he said.
The company also has a social obligation to provide meaningful job opportunities to the communities they operate in. Thitoyamore stressed that this obligation stems from the fact that most of the social problems are caused by high unemployment rates both here and in Africa. To protect the environment from effects such as global warming or climate change impact, companies have put resources towards green technologies across operations. Naledi Mining Services also takes mining risk seriously. The company discussed in detail the impact of enterprise risk management in the recent board meeting. The company has since hired a consultant to deal with this aspect of risk management, at the earliest stage possible.
As things stand, Naledi Mining Services only serves Debswana, which is a rough diamond company. Whether there are any plans to move out of Botswana or even explore opportunities in other markets Thitoyamore says their business goals strategy has no limitation. "It goes beyond Debswana, the country and even Africa. It is a global strategy that seeks to set us among the best mining services providers,” Thitoyamore enthused.
In the 12 months that the company has been in operation, it has assumed the mining of Debswana Jwaneng Mine Cut 9, a project valued at $2 billion.
At the launch of the company, Debswana head of technical services, Bakani Motlhabani stressed the point of expansion and diversification. "We do believe that Naledi will contribute significantly to the mining services industry that will mushroom in Botswana, beyond Jwaneng Cut 9. The intention is for the organisation to look for other opportunities, not only in Debswana, but in the whole mining industry and beyond the borders of Botswana to provide bespoke mining services."
The company’s business development function, has already done preliminary research on emerging markets on areas to quickly jump into. The company is targeting all clients, small, medium and large mines.
The Naledi Mining Services head said they want to also target companies, which do not operate with the diamond mining industries. Looking into the crystal ball, Thitoyamore sees a more diversified company in the next three to five years.
“We want people to look at Naledi Mining Services and see a company with limitless opportunities both in Botswana and elsewhere,” he said confidently, adding that on a personal note, he desires to one day see Naledi Mining Services delivering the same revenue as Debswana.
