no other articles link to it . please introduce links to this page from related articles ; try the find link tool for suggestions . april 2010 venmyn deloitte is a wholly owned subsidiary of deloitte . 1 the company provides consulting services to the global minerals industry bridging the disciplines of mining and finance and emphasises deloitte s commitment to the global mining industry . 2 3 it is headquartered in sandton johannesburg south africa . venmyn deloitte industry minerals area served worldwide key people andy clay md neil mckenna director products transaction oriented techno economic valuation reports number of employees 24 website http www.venmyndeloitte.com contents 1 history 1.1 company milestones 1.1.1 1988 1997 1.1.2 1997 2005 1.1.3 2005 september 2012 october 1.1.4 2012 november present 2 business units 2.1 1988 2007 2.2 2008 2.3 2011 3 innovations 3.1 samrec and samval codes 4 terms coined 4.1 mine recovery factor 5 document innovations 5.1 section 12 executive summary 5.2 short form documentation 6 footnotes 7 references history edit company milestones edit venmyn rand was established in 1988 by andy clay and dr willo stear with the financial assistance of rand merchant bank rmb . it was absorbed into rmb resources but later purchased back by the original founders . 4 it has gone through several shareholder changes since then with the most recent being the acquisition of venmyn by professional services firm deloitte . 5 6 1988 1997 edit clay and stear established venmyn in 1988 with funding from rmb . venmyn rand which gets the second part of its name from this prior association remained part of rmb for the next 9 years . 1997 2005 edit in 1997 clay and stear led a management buyout of venmyn . the founders increased their shareholding to 50 % each . 2005 september 2012 october edit the shareholding structure changed several times after september 2005 when co founder stear sold his share of the company . at this point several minority shareholders were introduced . minority shareholders and their stakes in the company changed periodically thereafter . clay s shareholding was also periodically readjusted . 2012 november present edit professional services firm deloitte purchased venmyn establishing venmyn deloitte . 7 business units edit 1988 2007 edit venmyn now remamed venmyn deloitte has historically not had different business units and has had a flat management structure although company employees write the technical reports with which they are the most familiar and with which they have the most experience . 2008 edit in 2008 venmyn now renamed venmyn deloitte decided to start running the graphics section of the company as a stand alone business . known as interaction 8 the stand alone company was 56 % owned by venmyn with interaction staff owning the remainder . this business became fully owned by venmyn in 2012 . 2011 edit venmyn now renamed venmyn deloitte started a new project management business unit in 2011 . known as venmyn independent projects it operated as a division of the then venmyn co ordinating and managing feasibility studies and preliminary economic assessments . 9 innovations edit samrec and samval codes edit venmyn deloitte md andy clay and other staff members have assisted and continue to assist with drafting the samrec 10 and samval codes 11 that govern the south african minerals industry . the south african code for the reporting of mineral resources and mineral reserves samrec sets out minimum standards recommendations and guidelines for the public reporting of exploration results mineral resources and mineral reserves in south africa while the south african code for the valuation of mineral assets samval sets down the minimum standards recommendations and guidelines for the valuation of mineral assets . 12 clay has been part of the samrec samval working group for oil and gas reserves 13 and has been identified as instrumental in motivating for samrec s introduction at the jse limited . 14 other codes that relate to the reporting of mineral resources and reserves and their valuation include canada s ni43 101 code and cimval code 15 and australia s joint ore reserves committee jorc code 16 and valmin code . 17 terms coined edit mine recovery factor edit venmyn s founders andy clay and willo stear coined the term the mine recovery factor 18 which is widely used in the industry with 1 940 references to the term on search engine google as on 3 august 2009 . the term measures the actual yield divided by the amount of gold or other commodity called for by the miner from the ore reserve . 19 document innovations edit section 12 executive summary edit venmyn now renamed venmyn deloitte introduced the section 12 executive summary document to the jse limited when it submitted the technical reports relating to the platmin listing . 20 the summary is attached as an appendix to a prelisting document and is based on a competent persons report cpr . the section 12 executive summary condenses all the required technical information that forms part of a cpr and presents it in an investor and board friendly form . short form documentation edit venmyn now renamed venmyn deloitte prefers succinct documentation and has created summarised document types including technical metallurgical and environmental statements . 21 venmyn now renamed venmyn deloitte produced the shortest cpr for a listing with the listing of buildmax . 22 the document was less than 10 pages including graphics . 23 footnotes edit wait m 2012 deloitte acquires mining consultancy venmyn mining weekly mining weekly 1998 niche consultancy grows 21 27 august 1998 pg 14 wait m 2012 deloitte acquires mining consultancy venmyn mining weekly mining weekly 1998 niche consultancy grows 21 27 august 1998 pg 14 walker j 1997 venmyn rand goes it alone business times wait m 2012 deloitte acquires mining consultancy venmyn mining weekly wait m 2012 deloitte acquires mining consultancy venmyn mining weekly 1 spicer d 2012 project management business takes off http www.samcode.co.za the south african mineral codes http www.samcode.co.za the south african mineral codes le roux h 2006 codes being firmed up to protect sa against mining fraud mining weekly 31 july 2006 2 le roux h 2006 codes being firmed up to protect sa against mining fraud mining weekly 31 july 2006 3 walker j 2000 jse takes on world class rulebook for mining business times sunday times undated 2000 pg 7 http www.cim.org committees cimval final standards.pdf cimval standards and guidelines http www.jorc.org joint ore reserves committee code http aig.org.au files valmin 122005.pdf the valmin code walker j 1990 venmyn s mine recovery factor an eye opener sunday times business times 21 october 1990 walker j 1990 venmyn s mine recovery factor an eye opener sunday times business times 21 october 1990 http www.sake24.com articles default display sens.aspx articleid 330334 jse listing update mckenna n 2009 increasing disclosure decreasing costs venmyn newsletter 24 june 2009 mckay d 2009 kcm needs the kiss of life miningmx 2 february 2009 mckay d 2009 kcm needs the kiss of life miningmx 2 february 2009 references edit boyd m 2008 the new reformation corporate governance in mining chamber of mines june september 2008 4 ernst & young 2009 mergers and acquisitions a review of activity for the year 2008 18th edition transaction advisory services le roux h 2006 codes being firmed up to protect sa against mining fraud mining weekly 31 july 2006 5 mckay d kcm needs the kiss of life miningmx 2 february 2009 6 mckenna n 2009 increasing disclosure decreasing costs venmyn newsletter 24 june 2009 mining weekly 1998 niche consultancy grows 21 27 august 1998 pg14 venmyn deloitte website venmyndeloitte.com wait m 2012 deloitte acquires mining consultancy venmyn mining weekly 7 walker j 2000 jse takes on world class rulebook for mining business times undated 2000 pg 7 walker j 1990 venmyn s mine recovery factor an eye opener sunday times business times 21 october 1990 walker j 1997 venmyn rand goes it alone business times 8 retrieved from https en.wikipedia.org w index.php title venmyn rand & oldid 567473765 categories mining companies of south africadeloittehidden categories use british english from june 2011use dmy dates from june 2011orphaned articles from april 2010all orphaned articlespages using infobox company with unsupported parameters navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified 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