dr. vince bertram is a business and education leader , a best-selling author , and currently serves as president and ceo of project lead the way ( pltw ) .

in 2014 , he was appointed by the u.s. department of state to serve as the education expert for its united states speaker and specialist program .

dr. bertram was a member of the indiana education roundtable and has chaired the national council for national honor society .

dr. bertram was named a “ distinguished hoosier ” — one of indiana ’s highest honors — by former governor mitch daniels , and his peers at the harvard graduate school of education honored him with the intellectual contributions/faculty tribute award for his contributions to intellectual life at the harvard graduate school of education .

in november 2015 , vince was recognized as the recipient of the 2015 ball state university teachers college outstanding alumnus award .

the national coalition for technology in education & training awarded vince with the 2017 community builder and founders award at the inaugural ball in washington , d.c. .

other awardees include hon. sandra day o'connor , justice ( retired ) of the united states supreme court .

vince currently serves on the indiana state board of education .

prior to joining pltw , dr. bertram was superintendent of indiana ’s third-largest urban school district , evansville vanderburgh school corporation .

dr. bertram earned his doctorate , specialist , master ’s , and bachelor 's degrees from ball state university , a master 's degree in education policy and management from harvard university , and his master 's of business administration ( mba ) from georgetown university and esade business school .

he also earned an executive certificate in strategy and innovation from the mit sloan school of management , and is an alumnus of the chicago management institute at the university of chicago ’s booth school of business .

dr. bertram received an honorary doctorate in engineering from the milwaukee school of engineering .

vince bertram

dream differently : candid advice for america ' s students ebook : vince m . bertram : urltoken kindle store
dr . vince bertram , president and ceo of pltw , presents during the 2014 pltw summit closing general session on wednesday , nov . 5 , 2014 .
vince bertram is president and ceo of project lead the way ( pltw ) , a leading provider of stem educational programs used in middle and high schools around the country .
one nation under taught : solving america ' s science , technology , engineering & math crisis : dr . vince m . bertram , steve forbes : 9780825307447 : urltoken books
vince bertram : the region is a great opportunity for us . in fact we have just expanded our regional staff , and are working with our university affiliates to grow the dc area .
washingtonexec got the chance to talk with bertram about pltw , the current education system , company partnerships and ways to get involved , and more . read on below for our interview with bertram .
dr . vince bertram is the president and ceo of project lead the way , a national nonprofit organization dedicated to developing high - quality stem curriculum and teacher training . pltw programs are used in over 6 , 000 schools across the united states . connect with dr . bertram on twitter at @ vincebertram .
education has been a constant driving force in the life of vince bertram . growing up in indiana , it was vince’s teachers who inspired him . so , after graduating from ball state university , he headed back to school as an educator to make a difference for students , much like his teachers had done for him .
with 300 high school interns from conexus program listening to pltw ceo , vince bertram explain the importance of skill preparation and making choices now . do you know why you are going to college ? dream differently ! ! !
in 2011 , vince joined project lead the way to make a difference for students across the united states . today , vince provides strategic direction , organizational development , guidance , and support to pltw’s talented team , as well as educators and leaders across the country .
dr . bertram pinpoints the style of learning that students actually retain information and learn how to solve problems on their own .
vince bertram : it’s not just about the size of the company , but about the company’s interest and commitment to education . all companies have workforce needs and they can reach out directly to their local schools , or they may contact pltw at urltoken and we will assist them .
vince bertram : we do focus on the job market and the trends and things that our students may need to learn or that would give them an advantage in the job market . for instance , we are adding a course in software engineering and computer science because it is one of the fastest growing careers .
in this episode of the innovation agenda , we speak with dr . vince bertram , ceo of project lead the way and author of one nation under taught , about the skills gap nationally , in california , and the sorts of solutions and partnerships his organization sees working to improve the prospects of students everywhere .
prior to joining pltw , dr . bertram spent 20 years in education as a teacher , principal , and superintendent of indiana’s third - largest urban school district .
vince bertram is president and ceo of project lead the way , the nation ' s leading provider of stem education programs for students in elementary , middle , and high school . through world - class curriculum , high - quality teacher professional development , and a network of business and educational leaders , pltw is preparing students for the global economy .
vince m . bertram ed . d . is president and ceo of project lead the way . he is a former teacher , principal , and superintendent . bertram serves as the education expert for the u . s . department of state ' s speaker and specialist program . he has testified before the u . s . house of representatives and is a frequent contributor to the huffington post and other national publications . his first book , one nation under - taught : solving america ' s science , technology , engineering , and math crisis , is a new york times bestseller . bertram holds a masters in education from harvard university , doctorate in education from ball state university , and master of business administration from georgetown university .
dr . vince bertram is president and ceo of project lead the way , a nonprofit organization and the nation’s leading provider of k - 12 stem programs . under his leadership , pltw has grown to serve over 6 , 500 schools nationwide , was named to thesocial impact exchange’s s & i 100 index , and was recognized by change the equation as one of four nationally scalable stem programs . bertram was appointed by the u . s . department of state as its speaker and specialist on stem education in 2014 and has testified before the u . s . house of representatives on stem education and america’s skills gap . he is a former teacher , principal , and urban superintendent . bertram holds doctorate , specialist , master’s , and bachelor’s degrees from ball state and harvard university
vince bertram : the premise of the book is that for many years , the way that we have counseled students is to “follow their dreams . ” the reality is , one , that students at ages 12 , 13 , 16 , 17 have a very limited view of the world , and their lack of experience makes it very difficult for them to understand all of the opportunities available to them .
his success and leadership have led to numerous appointments and awards . in 2014 , the u . s . department of state named vince as the education expert for its united states speaker and specialist program . he was appointed by governor mike pence to serve on the indiana state board of education and was reappointed by governor eric holcomb , and he serves on the olin college of engineering president’s council . indiana governor mitch daniels named vince a “distinguished hoosier , ” and his colleagues at the harvard graduate school of education honored him with the “intellectual contributions and faculty tribute” award for his contributions to the intellectual life at the university . in 2013 , the milwaukee school of engineering honored vince with an honorary doctoral degree , and in 2017 , ball state university awarded him their highest award bestowed upon alumni , the “distinguished alumni award” . in 2018 , vince received the national instruments innovations in stem award .
like dr . bertram , i am convinced we can do this . we can make systematic changes in education to empower students to innovate , solve , design , create , explore , and stay curious .
vince bertram : we partner with the college board and their excellent programs , but beyond assessments we provide the entire curriculum for middle and high schools ; primarily in engineering and biomedical sciences . our program is all project and activity based so students develop problem solving and critical thinking skills , and learn to effectively collaborate on projects . we also provide rigorous end of course assessments which are often used by universities to award college credit .
vince served as a principal , assistant superintendent , and finally superintendent of indiana’s third - largest urban school district . he drew state and national recognition for his leadership and the unprecedented accomplishments of the school districts that he served .
dr . vince bertram is president and chief executive officer of project lead the way ( pltw ) , a nonprofit organization that provides transformative educational experiences for k - 12 students and teachers across the u . s . bertram serves as the education expert for the u . s . department of state ' s united states speaker and specialist program . he has testified before the u . s . house of representatives , is a frequent contributor to the huffington post and other national publications , and in november 2014 , became a new york times bestselling author with his book one nation under - taught : solving america’s science , technology , engineering , and math crisis . prior to joining pltw , bertram was a teacher , principal , and urban superintendent . he holds doctorate , specialist , master’s , and bachelor’s degrees from ball state and harvard university .
pltw president and ceo and new york times bestselling author vince bertram ed . d . is publishing dream differently : candid advice for america’s students ( regnery ) this month . he recently spoke with lj about changing the u . s . approach to stem education , how students can better navigate the transition from school to college to careers , and what public , academic , and k–12 libraries can do to help them along the way .
vince bertram : partnership teams are absolutely critical for us on a couple of levels . one is the local level – we work with companies , industry experts to help us develop curriculum but also to help local schools implement our program , to sustain it , to mentor students , and to provide program funding for schools . we have many outstanding corporate partners including saic , northrop grumman , lockheed martin , chevron , 3m , cargill , john deere , and toyota .
vince bertram : we are always looking to expand our partnerships in places where there is growth opportunity . for instance we work with the university of maryland baltimore county , old dominion university , stevenson university – we just introduced duke university as a biomedical science affiliate . we also recently worked with uva professor robert tai on a white paper synthesizing the dozens of research studies on project lead the way . in other words , there are many ways that we partner with universities .
dr . vince bertram , zionsville , fifth congressional district ( will serve on the sboe through june 30 , 2017 ) – bertram currently serves as president and chief executive officer of project lead the way ( pltw ) , headquartered in indianapolis . he has also served as superintendent of indiana’s third - largest urban school district and , in 2014 , he was appointed by the u . s . department of state to serve as the stem education expert for the united states speaker and specialist program . bertram became a new york times bestselling author in november 2014 with the release of his book , one nation under - taught : solving america’s science , technology , engineering , and math crisis . he received his undergraduate , master’s , specialist , and doctorate degrees from ball state university , a master’s degree in education policy and management from harvard university , and an executive certificate in strategy and innovation from the mit sloan school of management .
vince bertram : there are a lot of opportunities . for instance , i was just with a group in st . cloud , minneapolis which a local manufacturing company students by providing company tours and mentors . they provide guest speakers and many activities to help students understand the skills they need to be successful in the job market . there isn’t a predetermined or standard way for companies to engage with our schools – we attempt to align the needs of the organization with our schools .
bertram joined pltw from a background in education , serving as superintendent of the evansville vanderburgh school corporation . he holds a doctoral , specialist , master’s , and bachelor’s degrees from ball state university , as well as a master of education policy and management from harvard university .
dr . bertram is a man of action and this book is a challenge to recognize the need for education reform and move forward with a sense of urgency . it is not a book that paints a negative picture of our kids or our educational systems , but it is a challenge to build on the latent capacity of students and educators . dr . bertram identifies and gives direction to accelerating performance in our schools that will ultimately improve our ability to compete at higher levels in a global marketplace . it ' s a must read if you care about the impact of the next generation .
vince has testified before the u . s . house of representatives , is a frequent contributor to the huffington post and other national publications , and is a new york times bestselling author with his books , “dream differently : candid advice for america’s students” and
one nation under - taught : solving america’s science , technology , engineering , and math crisis . ”
dr . bertram is a highly respect educator in america and is the leader of the one of the best stem curriculum providers in the country . he truly cares for students and wants to give a quality education for all students . i am looking forward to reading this book and if it is anything like his last book it will be challenging and eye opening .
a very insightful book written by someone who genuinely cares about america ' s students . bertram addresses the topics people are too timid to talk about , but should . i think every high school student should read this book before going to college . you won ' t be disappointed . even as a senior in college , i learned a few things from reading it .
dr . vince bertram is president and chief executive officer of project lead the way ( pltw ) . since joining the organization in june 2011 , pltw has grown to serve more than 10 , 500 schools across the u . s . , trained thousands of teachers , and received numerous national recognitions and awards . in 2014 , he was appointed by the u . s . department of state to serve as the education expert for its united states speaker and specialist program . he was appointed by governor mike pence and reappointed by governor eric holcomb to serve on the indiana state board of education , and he serves on the olin college of engineering president’s council . he has testified before the u . s . house of representatives , is a frequent contributor to national publications , and is
vince holds an ed . d , ms , ed . s , and bs degrees from ball state university , a master’s degree in education policy and management from harvard university , and mba degrees from georgetown university and esade business school . he also earned an executive certificate in strategy and innovation from the mit sloan school of management , and is an alumnus of the chicago management institute at the university of chicago’s booth school of business .
vince bertram : we have a severe shortage of students pursuing rigorous science , technology , engineering , and mathematics curricula , which leads to a competitive workforce crisis . the united states has nearly 3 . 7 million unfilled jobs because of the skills gap , and it is estimated that by 2018 we will have an additional 1 . 2 million unfilled stem related jobs because of the skills gap . yet we have 23 million people unemployed or underemployed . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
vince bertram : my involvement with project lead the way ( pltw ) began in 2001 / 2002 school year in which we adopted pltw in a large urban high school in which i was principal . then as a school superintendent of a large urban district we set out to put pltw in all of our middle and high schools . i observed significant changes in school culture and overall performance through project lead the way . i then had the privilege to lead this organization . _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _
this book is the game changer . every teacher , parent , principal , elected official , corporate or community leader should read this book . dr . bertram shows how can solve the problem of under performance of american students and project lead the way is a model of excellence in preparing our kids for the future . if you want to help change the future , you should read this book . i ordered mine before it was even released !
dr . bertram holds an ed . d , ms , ed . s , and bs degrees from ball state university , a master’s degree in education policy and management from harvard university , and mba degrees from georgetown university and esade business school . he also earned an executive certificate in strategy and innovation from the mit sloan school of management and is an alumnus of the chicago management institute at the university of chicago’s booth school of business . in 2018 , he received the national instruments innovations in stem award , which celebrates an individual who is dedicated to equipping students for successful careers . dr . bertram received an honorary doctorate in engineering from the milwaukee school of engineering , was named a
distinguished hoosier
by governor mitch daniels , received the
intellectual contributions and faculty tribute
award for his contributions to the intellectual life at the harvard graduate school of education , and received the “distinguished alumni award” from ball state university .
one nation under taught offers a clear solution , providing a blueprint for helping students fall in love with stem subjects , and giving them the tools they need to succeed and go on for further study in these fields . the book challenges our whole way of thinking about education , and encourages educators and policy - makers at all levels to work together to make our schools places that promote curiosity and inspire a love of learning . if we do not change course , we will set our students and our country on the path to a lifetime of poverty . but if we can implement the reforms dr . bertram suggests , we can achieve long - lasting prosperity for our children and our nation as a whole .
it is very rewarding to see our growth and the amazing work our students and teachers are doing across the country . ”
washingtonexec : how are you all aiding in increasing u . s . education in math and science ?
over the past 15 years , project lead the way has produced compelling results in student performance . our students generally do better in math and science , but they also take more math and science – primarily because they understand the context in how to use math and math as a tool as opposed to learning math in isolation . it’s when students must apply math and science in rigorous courses they begin to understand the relevancy . ”
former u . s . secretary of dhs , tom ridge , joins taasera , inc . advisory board
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the united states ' stem crisis is palpable . over the past several years , numerous studies report similar findings : the supply of stem - trained employees will not keep up with employers ' growing demand . one new study highlights the urgency of the shortage , concluding that current job openings in stem fields take , on average , nearly twice as long to fill as non - stem jobs . if the united states is to remain globally competitive , employers must step in with solutions .
the u . s . bureau of labor statistics estimates that by 2018 , there will be a record 1 . 2 million unfilled jobs in stem fields ( science , technology , engineering and math ) . a 2012 report from the president ' s council of advisors on science and technology highlighted the issue , concluding that if the u . s . is to retain its historical leadership in science and technology , we must increase the number of undergraduate degrees in stem by 34 percent annually over current rates , producing 1 million more stem professionals over the next decade .
while these studies highlight the need for stem professionals over the next five to 10 years , a newly published study shows that companies are struggling to find stem - trained talent now . last month , the brookings institution released its findings after analyzing millions of job vacancies : job openings in stem - related areas are posted for twice as long as non - stem jobs .
the brookings study even found that stem jobs requiring less than a bachelor ' s degree take longer to fill than non - stem jobs that require a bachelor ' s degree . the average posting length for
associate ' s - level and high - school - level stem jobs is 40 days , compared to just 37 days for non - stem jobs requiring a bachelor ' s degree and 31 days for non - stem jobs requiring an associate ' s degree .
the national association of manufacturers reports that this stem skills gap is so severe that there are approximately 600 , 000 unfilled jobs due to a lack of skilled workers .
it is becoming increasingly clear that business and industry must share the responsibility for educating and training the future workforce . chevron and lockheed martin , two of the world ' s leading employers of scientists and engineers , have invested millions of dollars into stem education across the u . s . , funding project lead the way ( pltw ) programs at the elementary , middle and high school levels . they ' ve realized that they can ' t wait for students to develop an interest in stem . they have to help spark it , and pltw ' s k - 12 stem education programs and teacher professional development , in place at more than 6 , 000 schools across the u . s . , are designed to do just that .
another pltw partner has taken a different , yet very effective , approach to training its workforce . a human resources recruiter for toyota says that historically , the auto manufacturer has filled vacancies by relying on external hires , internal team members who have obtained training through professional development programs , transfers from other toyota facilities , and graduates from traditional post - secondary technical programs . she says it takes four months or more to fill skilled technician positions that come with generous benefit and salary packages .
in 2009 , however , leaders at toyota took their workforce needs into their own hands with the creation of the advanced manufacturing technician ( amt ) program . today , in partnership with pltw and local community colleges , toyota recruits high school students into this two - year work / study program , in which students earn an associate ' s degree while training in a toyota facility , learning the skills and tools they need to be a skilled technician . upon completion of the amt program , 90 percent of the students are offered an internship with toyota , and 95 percent of those interns are offered full - time positions as skilled technicians .
the program has been so successful that toyota is implementing it in all of its north american production facilities . dennis parker , assistant manager at toyota ' s north american production support center in georgetown , kentucky , and director of the amt programs , says early numbers indicate that the majority of toyota ' s future skilled technician hires will come from the amt program .
it is critical that we take america ' s skills crisis into our own hands . we have the opportunity to change course by engaging students in stem learning and training the next generation workforce that america will rely on . early adopters of this strategy , like chevron , lockheed martin and toyota , are reaping the benefits .
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inspiring and empowering k - 12 students and teachers in thousands of schools across the u . s .
project lead the way is a nonprofit organization that provides a transformative learning experience for k - 12 students and teachers across the u . s .
we create an engaging classroom environment unlike any other . pltw empowers students to develop and apply in - demand , transportable skills by exploring real - world challenges . through our pathways in computer science , engineering , and biomedical science , students not only learn technical skills , but also learn to solve problems , think critically and creatively , communicate , and collaborate . we also provide teachers with the training , resources , and support they need to engage students in real - world learning .
pltw is an organization focused on empowering students and transforming the teaching experience – a proud tradition from the start of the organization that continues today . since 1997 , we have grown from a high school engineering program to offering comprehensive k - 12 pathways in computer science , engineering , and biomedical science .
schools in all 50 states , d . c . , and u . s . territories
by creating an engaging learning environment , our programs empower students to develop in - demand skills to pursue rewarding careers , solve important challenges , and contribute to global progress . we also enable teachers to engage students in real - world learning . learn how pltw programs are making a difference in the lives of pltw students and teachers – and how they are applying what they know to advance their communities :
we’re a 501 ( c ) ( 3 ) nonprofit organization that empowers students to thrive thanks to expertise and support from those who champion our mission .
we cannot do this important work alone . we work closely with educators and industry to develop and validate our programs . we collaborate with college , university , industry , and nonprofit partners to create opportunities for students to be recognized and expand on their skills . we are thankful for the many corporations , colleges and universities , philanthropic organizations , volunteers , and countless others who support our mission in a variety of ways .
through our sustainable business model , 100 percent of all philanthropic gifts go directly to fund grants for schools , teacher scholarships , pltw event sponsorships , or donor - approved initiatives .
when two students from kansas city , missouri , developed a plastic part for a ketchup bottle that would eliminate watery ketchup , media outlets throughout the world - - from popular science to abc news - - took notice . the invention was unique , but simple - a device that separates the water from the ketchup before the condiment is pushed out of the bottle . the students printed the part on their classroom 3 - d printer and tested it in a ketchup bottle , gratified to see that their designing , prototyping and commitment to the engineering design process had worked . so why all the attention ? some might say because we ' ve all dealt with watery ketchup . this is true . but the real reason , i believe , is that these high school students didn ' t just lament the problem . they took it a step further and did something about it , innovating what many of us have long wish existed .
america is a nation of inventors . the u . s . continues to lead other countries when it comes to the number of patent applications filed . but what truly makes america great is our nation ' s entrepreneurial mindset . from thomas edison and alexander graham bell to more modern - day inventors such as stephanie kwolek , who invented the material for bullet - proof vests , and jack dorsey of twitter and square , the united states is home to an impressive number of individuals who have gone out on their own , risked a great deal , and succeeded as entrepreneurs . and while most of us won ' t develop the next big product or fortune 500 company , we can play a role in continuing america ' s rich history of entrepreneurialism . we can help the students from kansas city , and our own students and children , take the leap from innovators to entrepreneurs .
some may argue that an entrepreneurial mindset is an inherent trait , one that a person is born with and cannot be taught . but i disagree . i believe we can foster an entrepreneurial mindset in our children from an early age - both at home and in the classroom - by nurturing their natural curiosity and characteristics such as risk taking , persistence and problem solving . we can create classrooms and education systems that are places where students can launch their entrepreneurial endeavors .
one of the biggest steps we must take with our children and students is giving them the freedom and confidence to take risks . too often , we put students on a risk - averse path ; we communicate that there is a correct and an incorrect way to do something , a right answer and a wrong answer to a question or problem . we reward the correct way and right answer , and discourage being wrong . we must change our thinking and behaviors . perhaps , instead of a student ' s answer being wrong , it ' s the correct answer to a different problem . we can nurture risk taking in our children through creating safe environments , both at home and at school , where they are not afraid to be wrong or fail . failure is an important part of learning . by creating such an environment , our children will have the freedom to think , explore or create new things . the same goes for employees within our organizations and businesses . risk taking must be celebrated , not stifled . not being afraid to take the risk is the mark of a true entrepreneur .
persistence and problem solving are also traits we must nurture in our students . the kansas city students encountered naysayers and failed prototypes along the way . they heard about other inventions for the same problem , even free solutions like simply shaking the bottle . but they weren ' t satisfied with those solutions . they knew there was something better . they dealt with design flaws and machinery malfunctions . but they persisted , never giving in to their failed attempts . to these students , this simply wasn ' t a classroom assignment ; it was their opportunity to find a solution . they were confident in their idea and abilities , and benefited from the support of those around them . the result was a physical part that worked - no more watery ketchup . and now is their opportunity to take it a step further - to persist and problem solve through the commercialization process to bring their invention to market .
after creating safe and innovative classroom environments , we also owe it to our students to teach them about the patent process and how to protect their intellectual property . and we must encourage them to form teams and work with others who can help springboard their idea and invention into a workable , marketable product . mark zuckerberg didn ' t create facebook in his college dorm room and take it from a website used by students at one university to the world ' s most - used social network overnight . rather , he assembled programmers , graphic artists , investors and many others that could contribute knowledge and skills he didn ' t have . by assembling this team and moving facebook beyond harvard , he took the leap from innovator to entrepreneur . he ' s just one example of a successful entrepreneur ; unfortunately , there are many inventors who never took the critical step to entrepreneur . just think about how many revolutionary inventions are sitting on notepads , hard drives and lab benches collecting dust . i ' d imagine quite a few .
each of us can take an active role in fostering the american entrepreneurial spirit . parents , teachers and educators have the opportunity to nurture the next generation of business leaders and entrepreneurs by reinforcing creative thinking and problem solving and creating safe environments where students feel comfortable taking risks . within our cities and communities , we can work to establish business incubators and business - friendly policies that encourage that leap from innovator to entrepreneur . and as leaders of organizations and businesses , we can encourage the entrepreneurial mindset within our current workforce , rewarding employees for ideas that improve upon products , processes and services . we need employees on our teams who possess the skills and qualities of an entrepreneur , but these skills and qualities must be nurtured from an early age . we must all take an active role in inspiring our students to think , create , build , fail and persist until they succeed . the risk is worth the reward .
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indianapolis ( may 27 , 2015 ) – gov . mike pence announced appointments to the newly revamped state board of education .
the new board follows the passage of senate enrolled act 1 , which reconstituted the board and changed its composition . under the reorganization , the governor has eight appointments with staggered terms . they’ll serve with two legislative appointments and the superintendent of public instruction . of the governor’s appointments , no more than five can be from the same political party . at least six must have professional experience in the field of education and only one member can be appointed from a particular congressional district .
pence called the board a “fresh start” and said members represent a wide cross - section of hoosiers from urban , suburban and rural school districts . the board of education has frequently clashed with superintendent glenda ritz since her election . board members andrea neal and dan elsener asked not to be considered for reappointment . tony walker , troy albert and brad oliver were not reappointed .
eddie melton , merrillville , first congressional district ( will serve on the sboe through june 30 , 2016 ) – melton works as manager of federal governmental relations and community relations at northern indiana public service company ( nipsco ) . he currently serves on the commission on the social status of black males after being appointed by gov . pence . he also currently serves as midwest regional director on the american association of blacks in energy . he received the “20 under 40” young professionals award from the nwi times media company in 2011 , and received his bachelor’s degree from calumet college of st . joseph .
lee ann kwiatkowski , greenwood , ninth congressional district ( will serve on the sboe through june 30 , 2016 ) – kwiatkowski currently serves as assistant superintendent for school improvement m . s . d . of warren township in indianapolis . previously , she held a variety of positions at the indiana department of education , including director of school turnaround , director of differentiated learning , and director of the title i program . she received her undergraduate degree from indiana state university , her master’s degrees in elementary education and educational administration from indiana university , and her educational specialist degree from indiana wesleyan university . she is currently working on her doctorate degree in education from oakland city university .
dr . david freitas , granger , second congressional district ( reappointed through june 30 , 2018 ) – freitas has served on the sboe since he was appointed in june 2013 . he has a vast array of experience and has served as a university vice provost , a college dean of education for more than 20 years , a professor of graduate - level university courses in educational leadership for more than 30 years , an elected city school board member , a state department of education official , a national and international invited speaker on education issues , a consultant for the u . s . department of education , and a public school teacher and administrator .
cari whicker , uniondale , third congressional district ( reappointed through june 30 , 2019 ) – whicker has served on the sboe since her appointment in april 2012 . she currently serves as a sixth grade language arts and social studies teacher at riverview middle school in huntington .
sarah o’brien , avon , fourth congressional district ( reappointed through june 30 , 2019 ) – o’brien has served on the sboe since her appointment in april 2009 . o’brien currently works at river birch elementary school and will teach fourth grade next year .
gordon hendry , indianapolis , seventh congressional district ( reappointed through june 30 , 2017 ) – hendry was first appointed in september 2013 . he is first vice president of cbre , inc . , where he serves as the midwest regional leader of the company’s public institutions and education solutions group .
bj watts , evansville , eighth congressional district ( reappointed through june 30 , 2018 ) – watts has served on the sboe since his original appointment in 2012 . he has taught at the evansville vanderburgh school corporation ( evsc ) since 2001 , is a member of the evansville teachers association and the indiana state teachers association , and currently serves on the national association of state boards of education .
in addition to the members appointed by the governor , steve yager and byron l . ernest will serve on the sboe . senate president pro tem david long appointed yager while house speaker brian bosma appointed ernest .
the united states can no longer excuse its poor academic performance by asserting that students in other nations excel in rote learning , while ours are better at problem solving . recent test results clearly tell a different story .
last month , the latest round of international standardized test results showed american students are lagging behind the rest of the developed world not just in math , science and reading , but in problem solving as well . the 2012 program for international student assessment ( pisa ) test examined 44 countries ' students ' problem - solving abilities - - american students landed just above the average , but they still scored below many other developed countries , including britain , singapore , korea , japan , china and canada .
content knowledge and the ability to solve problems must both be priorities for our students . while some ability to solve problems comes from knowledge of facts and persistence , other problem solving requires curiosity and creativity . without this broader skill set , our students will not be prepared for the jobs of the future and success in the global economy . our education system , then , must focus not only on building students ' content knowledge , but also inspiring creativity and an entrepreneurial mindset . the countries that do so will be the ones that prosper .
i recently visited south korea as the u . s . department of state ' s speaker and specialist on stem ( science , technology , engineering and math ) education and engaged with diverse korean audiences on the topics of stem education and workforce development . south korea ' s students excel in the fields of math and science , consistently ranking among the top 10 countries on international assessments . they also excel in an area that some might find surprising : problem solving .
how do they achieve these results ? south korea is one of the most competitive , high - stakes education cultures in the world . according to bbc news and other sources , students attend school from roughly eight in the morning until four o ' clock in the afternoon , and then a large majority heads to a hagwon ( an after - hours tutoring school ) where they will spend several more hours before completing homework for the next day . in south korea , students take an exam at age 18 that will determine their placement in university , and , to a great extent , their career path .
but despite this high - stakes culture , south korea is not just focusing on rote learning . in the latest round of pisa exams , korean students ranked number two in the world in problem solving . during my visit , korean representatives noted that the education system is increasing emphasis on students ' creativity .
in america , we must make core subjects like math and science relevant for students , and at the same time , foster creativity , curiosity and a passion for problem solving . that ' s what stem education does . stem is about using math and science to solve real - world challenges and problems . this applied , project - based way of teaching and learning allows students to understand and appreciate the relevancy of their work to their own lives and the world around them . once they grasp core concepts , students are able to choose a problem and use their own creativity and curiosity to research , design , test and improve a viable solution .
children are born with a natural curiosity . give a child a toy and watch him or her play for hours . listen to the questions a child asks . children have a thirst to understand things . but then they go to school . they are taught how to take tests , how to respond to questions - - how to do school . at our own peril , we teach them compliance . we teach them that school isn ' t a place for creativity . that must change .
america is home to many of the world ' s greatest innovators and a place where entrepreneurs can bring innovations to life . curiosity , creativity and persistence in solving problems have made these innovations and successes possible . we should be a world leader in problem solving and creative thinking instead of being satisfied with being in the middle of the pack - - and with the right focus on stem education , we can . we must stop reducing and minimizing students ' creativity and excitement and instead begin nurturing it in every classroom , in every city , in every state in america . we must invest all the resources and energy we can into creating an educational culture that values not only excellence in math and science , but excellence in creativity , innovation and entrepreneurship .
ball state university ( bs , ma , ed . s . , ed . d . )
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the only “wrong” dream is the one left unexamined . so go examine your dream . then go live it .
i have never believed that the way we fundamentally change this is to drop in a high school program . if we want to inspire more students , we have to get to them early . urltoken
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these types of opportunities would have never happened if it weren ' t for pltw . . . it is safe to say that if i were not in the pltw program i would not be where i am today .
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for the first time in secondary education , the pltw assessment will measure both subject - matter knowledge and mastery of the in - demand , transportable skills that are critical to students’ lifelong career success .
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master teacher natasha craft for winning the presidential award for excellence in mathematics and science teaching . more from
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as we celebrate our independence as nation , let us continue to focus on the things that unite us & the opportunities ahead of us . happy 4th of july ! # usa
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first day of # conexusinternsummit got to meet @ vincebertram the ceo of # pltw and reginald mcgregor an # engineer from @ rollsroyce awesome day and amazing speeches . realistic insight from awesome industry leaders proud to say scheduling podcasts with both urltoken
' s new end - of - course assessment is first of its kind to measure high school students’ mastery of the skills most critical for college and career success . read more from
the world ' s largest 3d - printed object was printed at oak ridge national lab and will help boeing build aircraft wings . tests show it ' s lighter , cheaper and just as strong as the current tool .
on national signing day , high school seniors who sign a letter of intent to play a sport at an ncaa school are announced and celebrated . our stem signing day ceremony extended some of that same fanfare to @ pltworg students heading to # college to pursue # stem majors . urltoken
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since its launch in 1997 as a high school engineering program , project lead the way ( pltw ) has grown into a major nonprofit organization . its three - phase , applied stem ( science , technology , engineering , and math ) education programs are used in almost 10 , 000 k–12 schools . designed to tap into student curiosity , pltw’s hands - on learning experiences illustrate how math and science can be used creatively or to solve real - world problems . the youngest students might be introduced to computing by creating digital animations , for example , and by high school , they’re working on group or individual tasks like computer programming , medical investigation , or architectural design .


metorex is a mining company based in johannesburg , south africa .

it has assets in the democratic republic of the congo ( drc ) , zambia and elsewhere .

a recent takeover bid by the jinchuan group of china valued the company at us$ 1.1 billion .

metorex

metorex share price . 100p - stock quote , charts , trade history , share chat , financials . metorex metorex ltd
in july of 2011 , metorex announced jinchuan’s intention to make an offer for the entire issued share capital of metorex , culminating in metorex becoming a wholly owned subsidiary of the jinchuan group in january 2012 .
following the acquisition , the metorex shares ceased trading on the johannesburg stock exchange .
rio de janeiro , july 11 , 2011 – vale s . a . ( vale ) announces that it has agreed to the request by metorex limited ( metorex ) to terminate the agreement in relation to the previously announced offer to acquire the total share capital of metorex , subject to metorex paying the agreed break up fee . vale has no intention to match the terms of the recently announced offer for metorex .
“from that point onwards metorex became jinchuan’s african platform to develop further assets and acquire assets through the metorex brand that are primarily focused on base metals , ” said benfield .
reviewing his long career , malone says metorex undertook 33 projects since he founded it .
copyright © 2013 metorex . all rights reserved . view privacy policy website design by talooma .
still took no issue with an analyst who told me the offer under - valued metorex .
metorex would henceforth also announce production results on a quarterly basis to increase transparency and accountability .
moneyweb : charles needham is the chief executive of metorex . it’s an exciting story , dave .
metorex said that the oversight committee would also see to structural changes and the recomposition of the board .
while the history of metorex’s two operating mines extends back over many decades , the company itself was founded in 1975 by a consortium including simon malone which acquired rand london mines and subsequently became known as metorex .
metorex officially ceased trading on the johannesburg stock exchange in january 2012 and in november 2013 , jinchuan successfully incorporated metorex into jinchuan group international resources company ltd , a jinchuan subsidiary listed on the hong kong stock exchange .
since the acquisition , apart from financing of projects , jinchuan has extended its technical support and advice to metorex .
chibuluma was acquired by metorex in 1997 through a government privatisation programme and is often referred to as zambia’s model mine .
“our focus is to align the entire human capital function with the greater metorex strategy and add value to our business .
for 35 years an independent rock breaker , malone put in place every asset metorex has – assets that vale of brazil and jinchuan value so highly . jinchuan’s offer values metorex at r9 . 1bn , compared to vale’s offer of r7 . 5bn .
metorex said that there would be not more than three executive directors on the board in future and a majority of nonexecutive directors .
metorex currently lacked the financial resources to fast - track the development of the kinsenda mine . irrespective of its current financial capacity it was considered to be inappropriate for metorex to continue providing 100 % of the funding required for the continued development of the mine .
david shapiro : because if they want to get value , that’s the way they get value – by taking it out of metorex .
scanning the hierarchy and structure further down and you find the esteemed projects that have become so synonymous with metorex’s capabilities over the years .
in november 2013 jinchuan successfully incorporated metorex into jinchuan group international resources co ltd , a jinchuan subsidiary listed on the hong kong stock exchange .
those proceeds had been applied to a hedge structure going forward , as a condition to the extension of metorex ' s project finance facilities .
all of metorex’s mines , with the exception of cons murch , were profitable even in the wake of the great commodities slump of 2008 .
metorex is also planning another $ 400 million investment in its musonoi project , which lies a little further northwest near the mining town of kolwezi .
finally , metorex’s lubembe project , which is located near to the kinsenda mine , is a much larger deposit , but of lower grade ore .
metorex had begun with the selection process for a new ceo , who would require
technical and management skills
necessary to consolidate and optimise existing operations , bring metorex ' s current project pipeline to fruition and develop an
effective forward - looking strategy for the group as a whole
.
he was happy to chat in generalities after the meeting . he revealed that vale was one of a number of large mining houses that looked at metorex .
metorex had engaged extensively with the drc authorities as part of the mineral title review process , but was still unable to announce the details of these settlements .
metorex said it had received a cash offer from a black economic empowerment ( bee ) company for a 15 percent equity interest in the vergenoeg fluorspar mine .
david shapiro : ja , it is , because i’m not sure the way it will work but obviously metorex will get these shares , because they’re selling the mines in for shares which hopefully they’re going to then pass on to local shareholders . so if you own metorex , you’re probably going to get shares demerged or…
forging partnerships however , metorex has high standards for its suppliers and only seeks to enter partnerships with those companies that are reliable and provide reliable components and services .
still told me that he and metorex’s large spanish shareholder and non - executive director alberto barrenechea had purchased shares “at a very interesting time” in the company’s history .
metorex is to swap its 74 % stake in barberton mines for a 55 % stake in aim - listed pan african resources . charles gives some of the history
metorex said it plans to sell some of its assets to generate sufficient liquidity to cover its near - term debt commitments and fund the ruashi ramp - up phase .
in order to maximise efficiency and productivity , metorex is tackling two major hurdles that come with operating in central africa , a skills shortage and long , logistical supply chain .
metorex would also exercise its rights , in terms of its funding agreement with crc , to capitalise part of its loans in crc , thereby further increasing its shareholding in crc .
johannesburg – simon malone , founder of metorex ( jse : mtx ) , says jinchuan’s offer makes more sense than that of vale , which he felt was far too low .
in 1975 , the founders , along with simon malone , acquired rand london mines . from there on , the consortium began to operate the company that we now know as metorex .
centralising efforts in a bid to counteract skills and supply chain issues , the company has established a central services operation called metorex commercial services ( mcs ) at its headquarters in johannesburg .
the company continues : “human capital bases its foundation on the metorex strategy which defines the vision and values of the organisation which is enabled through the strategic anchors defined for the organisation .
we published on tuesday that the metorex board had withdrawn its recommendation of the vale offer . in fact the circular says this is a condition precedent – something that still has to be done .
johannesburg - based mining company metorex has launched a multi - million dollar investment programme with an ambitious goal of reaching a target of producing 250 , 000 tonnes of copper a year in 10 years’ time .
benfield explained that part of metorex’s strategy was to ensure continuity by with its ex - pats , so as not to lose their expertise , through helping them develop their careers at the company’s various locations .
still he thinks metorex is a great company : “the debt is sorted out . we have two wonderful assets making good profits and three excellent prospects that in time will generate a lot of loot . ”
on december 5 , metorex announced a r922 - million debt and equity finance plan to complete the production and ramp up of its ruashi copper / cobalt project . metorex said then that it planned to seek shareholder approval on december 23 to raise r744 - million by selling 372 - million shares at r2 each , and had arranged for a r178 - million bridging finance loan from standard bank . the miner had also restructured about r2 - billion of its medium - term debt . metorex would use the funds to cover cost overruns at ruashi , and because a longer - than - expected construction time at the project had meant that the firm had not generated the cash flow it had planned for . metorex said that it still needed r700 - million to finance the cash flows required to complete the project and ramp up to full production .
metorex is proving its credentials across a number of assets in the drc and zambian copper belt to reaffirm its status as an established mid - tier mining group with a concerted focus on long - term profitability .
these renowned projects represent more than 40 years of development for metorex , but it was 2011 where the modern - day company began to take shape following the announcement of jinchuan group’s intention to acquire the business .
a commitment to effective leadership , employee development , mutual respect , human dignity , and motivational empowerment compounds its overall human capital ethos , and is also backed up by a sincere sense of accountability within metorex .
malone rejects the argument that metorex needs a big brother to bring the three new prospects to fruition , the view of the idc with 15 % of the shares . he and his team did not need big capital . malone says that with profits pumping at chibuluma and ruashi , the three prospects could have been realised with metorex independent . it could have done this on a phased basis over the next three years .
some 400 people are employed at chibuluma and metorex is keen to hang onto its operations in zambia , consequently the company will invest some $ 24 million on the decline development required to access the recently - discovered ore body .
at the time it was taken over , it was a flooded mine , previously run by a japanese mining consortium and then by the congolese government , and metorex ultimately gained controlled with the intention of opening and mining it .
“good operational management” is the key differentiator underpinning the success that metorex has enjoyed across each of its projects over the decades according to fitzmaurice ; and this is certainly epitomised in pure scale terms when looking at its trademark mining operations .
the oversight committee would also address the future of metorex ' s investment in copper resource corporation ( crc ) ; monitor ruashi ' s hedge , and secure
longer - term and appropriately structured financing
to improve the project pipeline .
metorex owns two operating mines ; chibuluma in zambia , which began production in 1955 and currently produces around 18 , 000 tonnes of copper in concentrate a year , and ruashi , a copper and cobalt mine in katanga province in the drc .
tough - as - teak oversight committee member , deputy metorex chairperson rob still , would assume
a limited executive role
to assist existing management in achieving the objectives . still ' s position would be reviewed on june 30 , 2009 .
gone this very month are freeworld coatings ( jse : fwd ) ( plascon ) and massmart . after metorex goes , palabora will be the only copper option and copper is the metal of the moment in the so - called super cycle .
“i think by and large jinchuan has left metorex to manage the african environment , and although we have a few jinchuan secondees here that are helping to build a bridge between the two companies and cultures we are operating fairly autonomously . ” said benfield .
johannesburg – metorex ( jse : mtx ) shareholders on wednesday approved a new share and bonus scheme , which authorises the company to issue up to 75 . 169m share options to employees at its annual general meeting ( agm ) ( agm ) in rosebank .
“there were two failures and four marginals . that means 27 succeeded and were profitable . our very first investment was rand london manganese , where our first investment was r80 000 . metorex is out of it but the group today is worth r7bn - r8bn .
johannesburg , may 11 ( reuters ) - south african miner metorex mtxj . j increased its copper and cobalt production during the quarter to end - march , but will continue to dispose of assets to fare in the global economic downturn , it said on monday .
comprising the ruashi mine , kinsenda mine , musonoi project and lubembe exploration in the drc - and the chibuluma mine and chifupu project in zambia - metorex is continuously proactive in acquiring lucrative assets while reviewing potential opportunities in the future , in sub - saharan africa .
“jinchuan group international has now become our new parent company with a 75 percent holding from the jinchuan group and 25 percent held by minorities . so now it has become the spring board to raise the capital and create the platform for metorex to grow in africa . ”
to illu strate that metorex’s dire financial predicament was a surprise even to the directors , the spaniard paid r18 . 50 a share for 471 500 shares and bought another tranche of 938 751 at r22 . 50 a share some six months before the capital raising at r2 a share .
using cut and fill mining methods , the easy access to infrastructure in the area has made it one of metorex’s key projects and a subsequent exploration of further volumes of inferred mineral resources to the east of the main area is set to add another eight years onto the mine’s overall lifecycle .
“suddenly in walks standard bank ( jse : sbk ) , telling us we were over - running and in breach of covenants and they wanted to pull the loan . metorex management were terrified . a board meeting was called on november 17 and the rescue package presented as a fait accompli .
metorex notes : “the kinsenda project currently ranks as one of the world’s highest grade copper deposits with declared mineral resources of 20 . 7 million tonnes at a grade of 5 . 6 percent copper . kinsenda is situated within the democratic republic of congo , near the border town of kasumbalesa . ”
the kinsenda project currently ranks as one of the world’s highest grade copper deposits with declared mineral resources of 20 . 7 million tonnes at a grade of 5 . 6 percent copper . kinsenda is situated within the drc near the border town of kasumbalesa and was purchased by metorex in the mid - 2000s .
the new metorex share incentive scheme , including share appreciation rights , replaces the old scheme under which there were 33m unvested shares . the old scheme had to be revamped to comply with jse ( jse : jse ) and king 3 requirements . the 33m older options will vest if the vale bid is consummated
the new options vest over three years so are unaffected by vale’s bid for metorex . the scheme is being put in place in the ordinary course of business as if there were no offer pending . if the vale bid succeeds , the future fate of unvested options will be a matter between vale and staff .
the wider group structure as it exists today instils metorex as an arm of jinchuan group subsidiary , jinchuan international ( hk listed ) , and while this has added a number of vital strings to the company’s bow , it has simply complemented a philosophy and operational excellence that had long prior existed within the business .
“the musonoi project is also located in the drc , on the outskirts of the mining town of kolwezi , ” metorex explains . “the project area contains at least two known mineralised zones , one of which ( known as dilala east ) was discovered as a blind , high grade copper and cobalt deposit in 2007 .
the last - but by no means least - value revolves around ‘zero harm’ , entailing concerns towards workers , the environment , the community and health & safety aspects ; once again emphasising metorex’s drive to not only be profitable and productive , but to do so in a way that will remain sustainable long into the future .
moneyweb : we welcome charles needham , chief executive of metorex . i might have been taking a bit of a chance there , charles . certainly the gold mines in the barberton area did create the first gold rush , but those three mines you own there – sheba , new consort and fairview – are they the oldest ?
the super - confident chairman in shirtsleeves told the agm that metorex is transformed . non - core assets have been sold and , after several restructures , debt reduced from r2 . 1bn to r460m . copper production increased by 145 % to 76 409 tons and cobalt 488 % to 5 123 tons in the 18 months to december .
“we are a group of senior executives who routinely evaluate and assess opportunities to expand our business , ” group projects manager , vic fitzmaurice explains in regards to metorex’s project identification strategy . “key projects at present include the re - opening and re - capitalisation of the kinsenda mine in the drc , which will be in production in 2017 .
with regard to the construction works being carried out at the kinsenda project , metorex has partnered with south african based project management and engineering group , dra , a diversified construction and infrastructure company group five , civil contracting firm safricas , which is based in drc , the mck mining company based in the katanga province and component supplier , outotec .
market : entry into a new sector related to rehabilitation of water supply and sewage systems . changes in the group : acquisition of shares in metorex , infra and additional shares in hydrobudowa włocławek . 2005 brought new contracts : execution of first projects for pkn orlen . the continued growth of the pbg group and increasing value of contracts meant higher financing requirements .
metorex , once a boom - time jse darling but hit now by project delays , commodity price collapse and a shareholder revolt , said it had mandated the newly created oversight committee to review the company ' s key performance indicators and focus particularly on the completion of the ruashi copper project , which was being built in the democratic republic of congo ( drc ) .
“the metorex vision is to grow a competitive and sustainable african - focused base metal mining company and build a business development platform and operation base of jinchuan based in southern africa , ” the company states . “to grow a company that offer opportunity for the development of our employees and communities , delivering to shareholders’ expectations and contributing to the development of our world . ”
metorex continues : “ruashi is a copper and cobalt mine in katanga province , located within the democratic republic of congo . this mine is made up of three open pits , along with a modern solvent extraction electro - winning processing plant . ruashi mining started production way back in 1911 . in 2005 , this company was registered as a drc company , being developed in two phases . ”
johannesburg ( miningweekly . com ) – troubled midcap miner metorex on friday staunched its share - price haemorrhage with the announcement of far - reaching restructuring that would see the stepping down of growth - era ceo charles needham , the exiting of founder simon malone , the creation of an all - nonexecutive
board oversight committee
, and the disposal of cash - consuming assets to pay for a new bank loan .
the company notes : “the metorex mission is to operate and optimise existing mines and assets ; through new mine development , exploration and technical improvements , to realise preservation and appreciation of assets ; to produce copper and cobalt products in line with quality specifications ; to realise company growth in order to maximise shareholder interests ; to ensure harmonious relationships between employees , communities , government and society ; and to create zero harm . ”
metorex would also enhance its competence in the technical , project management and corporate finance areas through future executive appointments . the company said that it was focused on : the final commissioning of the ruashi plant and achieving targeted production volumes at ruashi , completing the ruashi cobalt plant , and commissioning its secondary mills by the end february and the permanent primary crusher by april 25 . completion of the acid plant had been deferred to the last quarter of 2009 .
“the bank’s mining consultants were as thick as bricks . they thought the ruashi mine was a dog . i was retiring at the end of june , so that was brought forward . i had brought rob still on to the board a couple of years before . he was put in my place and charles needham was removed as md . the bank forced us to close a hedge at a loss and then they opened another hedge that eventually cost metorex nearly r500m .
in the event it was priced at r2 . as evidence it was under - priced , it was over - subscribed and those who subscribed now have a nice capital gain . as part of the package , standard granted a loan at jibar plus 7 . 5 percentage points – lucrative for standard but a burden for metorex . in addition to its interest and ( possibly ) hedge earnings , standard has made a capital gain on the jinchuan offer of r6 . 90 on its 24m shares – altogether r165 . 6m .
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following its takeover by chinese mining company jinchuan in 2012 , this established mid - tier mining group , which is a us $ 400 plus million revenue business with assets in both zambia and the democratic republic of congo ( drc ) , is very much on the expansion path .
the company has immediate projects in hand which are set to take the current annual copper production rate of 55 , 000 tonnes a year to 80 , 000 tonnes in the next 18 months and then exceed 100 000 tonnes within five years .
these projects are coupled with a strategic plan aimed at creating greater efficiencies within the company’s supply chain which is centred at its south african headquarters .
mike benfield , chief financial officer , said : “our target is that in 10 years’ time we will be producing 250 , 000 tonnes of copper a year .
“that is a lofty target that we have set ourselves but we believe we will achieve this through a combination of developing the projects and deposits that we have in our current portfolio and by acquisition with the backing of our chinese parent company , jinchuan group international resources , which is listed on the hong kong stock exchange . ”
the copper concentrate from the mine is sold to chambishi copper smelter in zambia where it is converted into copper blister and moved into the market .
benfield said : “it is a mature mine nearing the end of its life and as a consequence is one of very few mines in zambia which is tax paying .
“we have discovered a smaller satellite deposit about a kilometre and a half away from chibuluma and we are about to open that up so we can effectively extend the life of chibuluma for another six or seven years . ”
“extending our operation in chibuluma will give us more time to continue our exploration efforts in the area . we have an experienced staff compliment , who are performing well and we very much want to keep them within the group and maintain our operational presence in zambia . ”
copper and cobalt the ruashi mine employs 2 , 500 people and currently produces 38 , 000 tonnes of copper cathode and 4 , 400 tonnes of cobalt a year .
“there are plans to take the copper production up to between 45 , 000 and 50 , 000 tonnes a year as we de - bottle neck the process plant , ” explained benfield .
with the purchase came 400 employees and the challenge of dewatering the mine before any new development could take place .
“we have dewatered the mine to 300 metres below surface and are now in the process of developing a further decline into the western ore body , which is our current focus , but over time we will move into the eastern ore body , the previous operators having mined the central areas” said benfield .
construction work on the project began in april 2013 and it is anticipated copper production will begin in late 2015 , with expected production levels in the order of 25 , 000 - 26 , 000 tonnes of copper concentrate a year .
kinsenda will create further employment for the nearby settlements of meleke , twibombele and kisenda .
the projects’ environmental impact assessment and associated management plans were submitted to drc authorities in 2011 and all approvals required by the drc mining law have been obtained .
the project area contains at least two known mineralised zones , one of which known as dilala east was discovered as a blind , high grade copper and cobalt deposit in 2007 .
following the initial discovery of the high grade mineralised zone , the property has been extensively drilled and has declared a mineral resource at 31 . 7 million tonnes at a grade of 2 . 8 percent copper and 0 . 9 percent cobalt .
benfield said : “it is a very high grade copper cobalt deposit . in december last year we completed the bankable feasibility study and we are going through some further optimisation studies on the back of that .
“this will be an underground mine , but the challenge for us will be accessing the ore body , which currently is estimated to take about four and a half years to get to .
“we are trying to work out a way of getting to it faster so that it will improve the returns and valuation of the mine , ultimately we should be in production in about five years’ time . ”
a scoping study completed in early 2012 confirmed the potential to mine and process mixed sulphide and oxide ores . the mineral resource of 93 million tonnes at a grade of 1 . 9 percent copper will eventually be mined by open pit methods .
“we anticipate this project will cost somewhere between $ 500 million and $ 600 million and think that we may start it within the next five years , ” said benfield .
the financial crisis impacted the business requiring it to divest of all of its south african assets leaving it focused as a base metal miner in africa .
its fortunes have turned around somewhat dramatically following its acquisition by the china state owned entity , jinchuan group , which is providing the capital and support for its varied investment projects .
in china , jinchuan owns and operates a massive nickel deposit , which has still got a mining life of 50 years’ plus around which a whole integrated city has established itself .
jinchuan also holds a 51 percent stake in a south african platinum mine in the north west province and a few other assets outside of africa .
“the skills shortage in africa is immense with miners in africa , depending on the scale of their operation , employing people with the skills from many other countries , ” said benfield .
“for example we have a small contingent south africans , australians and british citizens working at our mines , although it does vary from mine to mine , but the majority of the work force are local employees . ”
mcs has begun by bolstering technical skills at an administrative level including its accounts payable function which is controlled and supported from the head office .
it has also sought to centralise its procurement activities leveraging more scale by being the procurement service provider for all of its operations , thus aiming to secure better price points from suppliers and ultimately getting costs per unit down .
“commodity price is not in our control , however we can control two things , the cost at which we produce a copper unit at and how many units we produce . so at a cost level we have got to get our supply chain right , ” explained benfield .
“we have a well thought - out supply chain management strategy which we are aiming to develop , managed from johannesburg and then integrated into our various operations . ” supplies are predominately sourced in south africa but chemical reagents to extract ore through the copper process come from other parts of the world .
the challenge of connectivity is one that the company is also endeavouring to constantly improve in order to allow good communication across its operations .
“in africa there are issues with internet and telecommunication connectivity which can be a challenge for us , ” said benfield . “we are looking at standardising our communications from our headquarters in johannesburg through to our sites in central africa .
“we are also looking at chinese procurement . the chinese have an amazing track record for doing things quicker for less and we believe that their quality is constantly improving ensuring that supplies are fit for purpose , reliable and cost effective . ”
looking after its employees and the communities in which it operates are always regarded highly by the company which has developed a strong set of values it adheres to .
“we have an acronym – paletz which is our mantra , ” said benfield . “p is for people focus , a is for accountability , l is for the long term perspective , e is for excellence in everything we do , t is for teamwork and z is for zero harm .
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chairman rob still quickly put me right that this is no large - scale giveaway on the eve of vale’s r7 . 35bn bid for the company .
still said the older options are approximately r130m “in the money” at the offer price .
to stave off bankruptcy in november 2008 , standard bank ( jse : sbk ) agreed to lend the company r100m on condition that the company came up with r500m of equity . a rights issue was held at r2 a share but fell short of the r500m required . barrenechea and still bought shares to reach standard’s r500m equity hurdle .
still kept vale’s offer off the agenda at wednesday’s agm because there will be a specific shareholders’ meeting on the offer on july22 . the circular comes out this friday .
he personally has signed an irrevocable over his 9m shares , which was an endorsement of the offer price . had he not accepted it would have sent a wrong message to the board and shareholders .
“when you receive an offer at a 40 % premium to the share price , you have to put it to shareholders . just imagine if we had not conveyed the offer because we deemed it too low and the share went back to 480c . all the irrevocables will fall away if a better offer comes up . ”
he said : “any valuation depends not only on one’s view of future commodity prices but also on life of mine , tax and all sorts of other considerations . ”
still said chibuluma and ruashi are excellent properties but the former has an expected life of only six years and the latter 15 years . he said the brazilians were tough in extending a binding offer of r7 . 35 a share but they could not renege in the event of a copper price collapse .
the offer price will actually be improved following the sale of sable zinc kabwe to a subsidiary of glencore international for a price that will range from r190m - r225m .
still said vale was adamant that it wanted to keep existing management if its bid succeeds . he said management’s proven expertise in the copper fields was an important part of the valuation . he added that johannesburg was a good place from which to run mines in the copper belt . anvil is run from perth , freeport mcmoran from phoenix . joburg is in the same time zone and has a wealth of mining and engineering expertise .
still has worked in senior positions in mining houses but for more than a decade has operated as an independent in gold , platinum , mineral sands and nickel prospects .
cash mining profit amounted to r1 . 72bn of which r851m represented the last six months . that profit in rands was in spite of a 20 % stronger rand .
development projects kinsenda , ruashi sulphides , lubembe and dilala east have made considerable progress . the company is confident and encouraged .
all resolutions at the agm were passed and not one shareholder had a question . the share price has firmed from 716c to 732c in the past week . that is within spitting distance of the offer price but there could be 20c extra in the sable offer .
price and trade data source : jse ltd . all other statistics calculated by profile data . all data is delayed by at least 15 minutes .
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charles needham : well , alec , certainly that was the centre of the first gold rush , and the sheba mine was started in 1886 . so it has been around a while and we trust and we believe that it will be around for a lot longer .
charles needham : pilgrim’s rest – similar sort of timing . similar timing , but certainly the sheba area was the mainstay of that gold rush at the time .
moneyweb : it’s really an interesting part of south african corporate history . names like joe’s luck , sheba , eureka , revolver creek – and of course your fairview and new consort . that whole gold rush time of 1883 , 1886 when sheba was created – its amazing to believe that the mines are still producing gold there . is that because they have a different geology to what we’re used to on the reef ?
charles needham : well , i think alec , you know , the infrastructure there is certainly historic , and its fairly small , but you’re in the greenstone belt and these greenstone belts just go on for ever . and we…
moneyweb : just explain that , if you would , for the layman . what is a greenstone belt ?
charles needham : well , the greenstone belts are gold - liberating rock that is not quite the same as the witwatersrand , which runs in your conglomerates and it’s a vein . the greenstones are a sort of a mass deposit of gold mineralisation in what are known as the greenstone rocks . they’re the oldest rocks in the world .
moneyweb : so , if you pick away with your pick and shovel , you might actually get a gold nugget in a greenstone , which you’re unlikely to get on the witwatersrand reef .
charles needham : correct . and historically the golden quarry was probably the richest gold deposit ever discovered , which ran at ounces per ton , rather than grams per ton .
moneyweb : it is interesting , as well , looking at the financial results of your barberton mines , because that’s why we’re talking with you tonight – the grade , the head grade that you got there was nearly 11 grams a ton . most of the south african mines are pretty happy if they can get five or six grams a ton .
charles needham : well , i would think we’re probably the second - highest grade in the country . the difference is that barberton is a high - cost gold mine , but it’s a high - grade , high - cost gold mine . but certainly we have the grades . they are very variable in greenstones ; you know , we will have areas of particularly high grade , but on average 10 is about where we’re at .
charles needham : exploration from surface is not easy . you know , for us to put in significant amount of drilling from surface or significant underground drilling really doesn’t delineate the ore body quite the way one might on a sulphide or a base metal operation . you know , we really have to keep ourselves ahead of where we are mining through ongoing development and opening up new areas by probe holes underground . but it’s a most interesting process .
charles needham : well , the greenstone belt runs through to phalaborwa . consolidated murchison , which is our antimony gold operation , is also sitting in the greenstone belt . so , it certainly runs phalaborwa down through barberton .
charles needham : purely by underground probing , and there is a certain amount of luck involved in the greenstones .
moneyweb : now you own 74 % of the barberton mines , bought from the old avgold in 2003 . interesting to see that cyril ramaphosa’s group , shanduka , has got the other 26 % .
charles needham : well , ja , cyril came in at the same time as us . he partnered us in that transaction with avgold , and he came in for 26 % interest . and we in fact were originally a 55 % interest , and acquired the canadians’ – who also joined us in that transaction – we acquired their 20 % during the course of last year .
moneyweb : and you’re going to be putting barberton mines into a london - based listing , or an aim part of the london stock exchange – a company called pan african resources . what’s motivated this decision ?
charles needham : alec , you know , if i can just touch on that . we’re selling it into pan african resources , but we’re creating a dual listing . we are going to be listed on the altx market in south africa , which means that we are creating a south african - controlled gold mining , exploration and development and producing operation . the rationale for this was that over the years we’ve been advised by various institutions ; they said : “you know , your ratings that you will get from a pure gold play are significantly better than the ratings you’ll get for your gold asset within your diversified portfolio . ” it took us a long time and we did a lot of thinking about this one and ultimately we agreed that if you piece together gold production with exploration , this is the way that you can grow a gold operation . and this was the rationale for piecing ourselves together with pan african , who are primarily explorationists and we are producers and operators and developers . so , it just made sense to piece together cash flows generated from gold - mining operations for the funding of exploration for the creation of new mines . so just the ratings and the rationale for having cash flow together with the exploration makes sense .
moneyweb : makes a lot of sense . is pan african resources also exploring in the barberton area ?
charles needham : pan african will come onto the barberton lease area , but their primary focus at the moment is mozambique , central african republic and ghana .
moneyweb : i was going to say , surely if you’ve been mining in barberton since 1883 , there can’t be too much unexplored area there . yet what you’ve just explained now – central african republic and mozambique must be almost virgin territory .
charles needham : well , central african republic certainly is , but we believe that the tanzanian gold belt flows through the drc and flows into central african republic . now we believe that that could either be an elephant or nothing . but we have got to go through the processes and we’ve got exploration teams up there at the moment on soil sampling and all the various preliminary aspects of an exploration programme .
moneyweb : charles , you did explain that there’s going to be a listing on the altx here and in aim in london . when is that going to happen ?
charles needham : well , we should be trading on the altx market by mid - july .
history - company - pbg s . a . - lider branży budowlanej w polsce
pbg s . a . provides comprehensive , specialist contracting services for natural gas , crude oil , and fuel facilities . it acts as a general contractor , consortium member , or sub - contractor with respect to engineering design work , construction , repairs , operation , and maintenance in the field of production of natural gas and crude oil , transmission of natural gas and crude oil , storage of natural gas and fuels ( lng , lpg , c5 + , and cng ) . in the fuel segment , pbg carries out projects involving both construction of new facilities and modernisation of existing fuel terminals , together with auxiliary infrastructure .
we introduce modern environmentally friendly technologies . we constantly increase our production capabilities . our finance , experience and technical knowledge allow us to carry out the largest in poland projects and take part in international undertakings . we consciously manage budgets winning confidence of financial institutions . our success is based on knowledge and experience of highly qualified engineering and production staff . matrix team management makes it possible to react to the customers’ needs and changing conditions accompanying the project realization in a flexible way .
pbg s . a . is the parent undertaking of the pbg group , whose business profile comprises general contractor services for the natural gas , crude oil , water and fuel industries , provided on a turnkey basis , as well as general contractor services for industrial , residential , infrastructural and road construction projects .
regional court in poznań - nowe miasto and wilda , viii economic department of national court register enterprise registration document : 0000184508 tax id : 777 - 21 - 94 - 746 regon number : 631048917 amount of initial capital 16 , 086 , 604 . 44 pln - paid up .
on june 13 th , 2012 the district court for poznan - stare miasto , xi commercial division for bankruptcy and reorganization issued a decision declaring bankruptcy with the possibility to make an arrangement of the company . thus , since june 13 th , 2012 , the name of the company is : pbg sa in company voluntary arrangement .
market : 2011 was a year of major contract work related to the upcoming 2012 european football championships . the pbg group played a large part in the preparations for the important event , having constructed three out of the four polish arenas to stage the championships . the construction of the pge arena in gdańsk and the national stadium in warsaw was completed in 2011 , while the city stadium in poznań was completed a year earlier . work was also under way on other strategic infrastructural projects developed ahead of the 2012 european football championships : the a1 and a4 motorways and the s5 expressway .
changes in the pbg group : two acquisitions closed in 2011 – the takeover of a controlling stake in energomontaż południe and the acquisition of rafako – were a key element of the company’s new strategy . they marked the beginning of a planned shift of the pbg group’s core business towards power engineering and consolidation of the group’s power engineering business around rafako .
stock exchange : negotiations with spain’s ohl , concerning sale of majority interests in hydrobudowa polska s . a . and aprivia s . a . , were suspended . however , the intention to cooperate with ohl in winning and executing construction contracts in poland and abroad was confirmed .
market : the company secured one of the most important contracts in its history and one of strategic importance nationally and globally – the design and construction of an lng regasification terminal in świnoujście . winning of new contracts for construction of roads and motorways . completion of one of the three euro 2012 stadiums – the municipal stadium in poznań . changes in the group : the company made a first step towards entry into a new business area – the power sector . acquisition of 25 % plus one share in energomontaż południe . stock exchange : the company started negotiations with ohl representatives with respect to international cooperation and sale of majority interests in hydrobudowa polska and aprivia – prospects of entering the operator services market .
market : further strengthening of the company’s position on the market of residential construction by expanding the pbg dom group to include new spvs established to implement specific development projects . securing of new contracts related to the construction of stadiums for euro 2012 : the national stadium in warsaw and pge arena in gdańsk . changes in the group : implementation of the strategic objective of expanding into foreign markets through the establishment of pbg export . stock exchange : fourth issue of pbg shares on the wse .
market : strengthening of the company’s position on the markets of road and residential construction , as well as water supply and sewage system rehabilitation . in addition , the company won several tenders for the execution of large projects for pgnig – development of the lubiatów - międzychód - grotów fields ; construction of the wierzchowice underground gas storage facility ; execution of a contract for the construction of the municipal stadium in poznań .
changes in the group : inclusion of betpol in the group , inclusion of budwil and pbg dom invest in the pbg dom group , inclusion of prg metro and hydrobudowa polska konstrukcje ( currently pbg technologia ) in the hydrobudowa polska group , establishment of aprivia , avatia , gdyńska projekta and górecka projekt .
market : the company expanded into new business areas related to road construction , residential construction and foreign markets . changes in the group : the group was expanded to include new companies within the existing business scope : hydrobudowa 9 ; first foreign operations : acquisition of gasoil engineering and establishment of excan oil & gas engineering . the group also was also expanded to include companies from new industries :
market : the company intensified its activity in the environmental protection sector . moreover , in 2006 pbg signed a contract with pgnig for the construction of the grodzisk denitriding facility in the village of snowidowo , an industrial installation for removal of nitrogen from nitrogen - rich gas .
changes in the group : acquisition of shares in kwg and hydrobudowa śląsk . stock exchange : second issue of pbg shares . the stock exchange listing and two share issues paved the way for building a strong group of companies with extensive track records in their respective industries , employing qualified staff and boasting strong credentials .