Asian Rich List
Asian Rich List
WELL GROUNDED:
Rajesh Ram Satija
with his wife,
daughter Garima
(second from
left) and son
Atul (right)
TRANQUIL LIVING:
The Aqasia project
Rajesh Satija Ram
Mining
£850m p£180m
London-based Rajesh Satija Ram is a
mining magnate whose empire is spread
across three continents – Asia, Africa and
Latin America. He owns among the world’s
largest reserves of gold, uranium and rare
minerals and is one of the top investors in
Africa where he commands the respect of
prime ministers and presidents.
Satija, an electrical engineer by training, arrived in Lagos, Nigeria in 1993, to work for
a local Indian procurement authority.
“I had this foresight that Africa would be
one big market and wanted to be part of it
when it emerged,” he said.
Satija established the Sun & Sand Group
of Companies in Guyana and Africa, with his
factory making ferrous and non-ferrous ingots, which are widely used in the automobile
industry. Satija’ s company became the first in
Africa to supply such global leading brands as
Toyota, Rolls Royce, Honda and Nissan.
Later he branched out into gold, copper
and uranium, thus transforming the fortunes
of its metal industries across the continent.
He is in command of one of the largest reserves of precious and non-precious metals,
as well as rare ones, such as uranium, which
has a wide number of industrial uses.
Affectionately called “Lucky” by his friends
Sun rises in Africa
Satija’s mining empire only gets bigger
and business associates, Satija has formed
mutually beneficial partnerships, business
relations and development in Africa through
his personal relationships with leaders and
politicians over the past three decades.
Satija employs 6,000 people around the
globe, working closely with local communities in Africa helping in their development.
His influence in Africa goes to the very
highest level and he’s often seen meeting
presidents and cabinet ministers.
“Whomever I have worked with in the
past 25 years, no one has lost a single dollar,”
he said.
“Many presidents of Africa, they call me
when they have a problem. They say to me,
‘Lucky, come and sit with us, our problems
will be solved.’”
Combined with his expertise in metal extraction, trading and manufacturing, vision in
agribusiness and corporate farming industry,
he has steered the Sun & Sand Group into a
formidable conglomerate, as the company expanded its supply chain and Satija used his
foresight to turn challenges into opportunities.
The group is a member of the London Metal Exchange. He has cited London as the best
34 | Eastern Eye Asian Rich List | March 2015
hub for growing his businesses, which are increasingly global in nature.
Satija said, “I could stop working and continue to develop my passion and hobby for
breeding horses and farming.”
However, at 47, Satija is a man with a larger
mission who wants to expand his metals and
mining business, in particular gold and uranium mining, around the world.
Satija’s extensive interests in Africa have
yielded him great rewards and he is today one
of the continent’s largest individual owners of
gold reserves, a holding that in itself has given
him tremendous influence in the countries in
which he operates.
Satija received the 2014 Entrepreneur of
Year Award at the Africa International Business Forum (AIBF) in London at the House
of Lords, in recognition of his leadership as
a change agent for Indian companies investing in Africa.
While he is committed to developing the
mining sector and infrastructure in Africa and
meeting the world’s growing demand for raw
materials, he is also serious about reducing
the impact on the environment of his own industry. So the group incorporates a business
for social change model, enhancing human
development through technology transfer,
access to renewable energy, and sense of responsibility towards the well-being of society.
His extensive diversified portfolio of interests in Africa and India is driven by a sustainable development approach in every aspect.
Satija’s vision is to increase the existing
number of mines in Africa and Latin America
from 50 to a 100 in the next two years.
As a leader among the Indian diaspora, Satija plays an active role in the community, as a
key bridge to access knowledge, expertise, resources and markets not only for
the development of India, but also the rest
of the world.
A noticeable example is in the acquisition
of 5,000 acres of land in
Canada and Georgia for
the agricultural development
of apple orchards.
Satija set up two controlled atmosphere cold storages in north India to preserve the apples grown
in Canada and Georgia to market in India.
Satija is planning to further expand his trading activities in the agri-business industry
by accessing the cashew and cocoa markets
in Nigeria and Côte d’Ivoire.
One of his biggest and most innovative
projects in the hotel and real estate sectors in
Guyana and India is the construction of new
homes with a difference through his Aqasia
Homes Business. Satija is looking to create
“geopathic stress-free areas”. This means
paying particular attention to the surroundings of the home and making it as attractive
and as peaceful as possible.
Satija plays special attention to spirituality,
believing that a sound mind can be encouraged through calming and serene surroundings. His ability to listen to others and drive to
make people feel special and valued is translated through his business approach to creating an environment in which people can
flourish and reach their highest potentials.
Satija transforms that powerful connection
for the exchange of energy, passion, trust and
effort between like-minded individuals and
also business communities.
Satija is a strong networker and understands the power of international relations –
he has built links with the
UN and has been involved in
global charitable endeavours
that have earned him attention
and respect.
In 2012, Satija was honoured
by Human Achievers Foundation (HAF), in
association with Indian Council for UN Relations (ICUNR) and Africa India Partnership
Association (AIPA), for his endeavours in
international business and contribution
in the field of manufacturing, imports and
exports of metals.
Behind his seemingly simple personality is
a steely determination to make a difference to
society and a plan to accomplish it.
As a founder of the Reiki Healing Foundation Trust, Satija hopes to promote Reiki as an
‘In 25 years,
no one has lost
a single dollar’
alternate source of healing and brotherhood.
In the past year, he set up Sun & Sand
Foundation, a non government organisation
aimed at providing education to poor children in India. There are plans to expand the
programme to Africa.
Among his pet projects is one based
on quantum speed reading, a system of
learning introduced by a Japanese expert
wherein children can read a book in a short
span of time, for instance in as little as
30 seconds.
“Over the next 10-15 years, children
can compete with politicians, rich people,”
he said.
Satija’s own children have set out to go
about their lives without being “spoilt” by
his immense wealth. His daughter is studying
law in London while his son is an undergraduate in the US.
It’s clear that Satija still has big dreams, big
promises to keep and maintain the continuous faith in him by his employees and business partners.
“I have already planned how to change society. I don’t want to only make money. I want
to do something different.”
Satija’s global businesses have had a good
year with strong revenues and appreciation
of his mining assets. He has substantial private assets, including homes in prime locations around the world.
Taking into account the geographical risk
of his mining assets, we take a conservative
valuation of £850m.
March 2015 | Eastern Eye Asian Rich List | 35