JCI orJohannesburg Consolidated Investment Co. Ltd. was a major force inSouth African mining for over 100 years.

The company was founded by the British entrepreneurBarney Barnato in 1889.^[1][2] Using his investments in theKimberley diamond fields, particularly his 25% share inDe Beers, Barnato foresaw the value of and invested in the potential of theWitwatersrandgold mines. At first he bought small but rich mines near Germiston – the New Primrose, named after his daughter, and others in the same region.^[3]

In 1913 JCI bought theRandfontein Estates Gold Mining Company, which was a fabulously rich mine, from Sir J.B. Robinson. At the peak of its production Randfontein was equipped with 600stamp mills, the roar of which could be heard inJohannesburg. Randfontein Estates was an extraordinarily rich mining property, and in the 1950s was a pioneer ofuranium production. During the 1930s Randfontein was the largest gold producer in South Africa, if not the world.^[4]

JCI was also involved with numerous mining ventures –New State Mines atBrakpan,Modder Deep Mines atBenoni,Van Dyk Mines atBenoni. In the 1960s Randfontein was virtually closed down, and mining was developed at Western Areas on the other side of the shallow valley, but in the 1970s new deposits were discovered to the south of Randfontein and the Cooke Section was opened up in 1976. Cooke produced gold and uranium, the uranium being destined for theKoeberg Nuclear Power Station fuel.^[5]

In addition to the gold mines, 25% of De Beers and acontrolling interest inRustenburg Platinum Holdings, the world's largestplatinum producer, JCI owned large industrial and property holdings, including theHoughton Estate in northern Johannesburg, and substantial shareholdings inSouth African Breweries,Toyota South Africa,Lennings Industrial, etc., and was long a target of developers who lusted after the property holdings.Anglo American Corporation purchased a significant holding in JCI.^[6]

JCI installed a technically advanced Precious Metals Refinery at Rustenburg, which processedPlatinum Group metals totally in South Africa, and built aferrochromesmelter atLydenburg which directly smeltedchromite fine ore.^[7]

In the late 1980s JCI started development of an ultra deep mine to the south of Western Areas,South Deep.^[8] The ownership of South Deep has now devolved toGold Fields, and the deposit is still being developed.^[9]

In 1995 the majority shareholder, Anglo American Corp, decided to offer JCI to the new political dispensation in South Africa as aBlack Economic Empowerment vehicle. A new Chairman,Mzi Khumalo, took over the mining side, whilst the property and investment side was separated and morphed intoJohnnic Communications. The platinum interests were moved intoAnglo American Platinum, Amplats.^[10]

It has been alleged byFour Corners thatBrett Kebble, John Stratton, and others in their roles as Chairman and directors of the company respectively defrauded and conspired to defraud the company of some 7.6 billion rand. Additionally, it was alleged that John Stratton then procured Brett Kebble's murder, with whichGlenn Agliotti has been charged.^[11]

• MacDuff v JCI.

• company pageArchived 2007-10-21 at theWayback Machine
• Four Corner's "Bad Company" transcript
• Four Corner's "Bad Company" references
• Bloomberg article on court case against JCI

• Mining companies of South Africa
• Coal companies of South Africa
• Uranium mining companies of South Africa
• Gold mining companies of South Africa
• Platinum mining companies
• Non-renewable resource companies established in 1889
• 1889 establishments in the Cape Colony

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