Platinum producer Lonmin has appointed South African Mahomed Seedat, a former BHP Billiton executive, as its new president, replacing Alistair Ross, the company announced on Friday.
Seedat, 50, who would join Lonmin on September 1, would become a member of Lonmin’s chief executive committee and Ross would remain with the group as a general consultant. His duties would include overseeing the transition of the role of president, Lonmin said in a statement.
Seedat left BHP Billiton unexpectedly in March and was president of BHP Billiton’s energy sector group and a member of the executive committee.
He was also COO of the then Ingwe Coal, which owns BHP Billiton's South African coal interests, and, prior to that, COO of Aluminium Southern Africa, with responsibility for the operations at the Hillside and Bayside aluminium smelters in Richards Bay and the Mozal aluminium smelter in Maputo, Mozambique.
BHP Billiton announced in March that Seedat would exit the company, and that the energy and metallurgical coal divisions would be combined under a single president, based in Australia.
Commenting on the appointment, CEO Brad Mills said that the group was “delighted” to welcome Seedat to the company.
“He will make a substantial contribution to the Lonmin team as we continue to grow and develop our operations in South Africa,” Mills said.
Lomin owns four mines in South Africa.
Lonmin shares gained 4,26%, or R24,00 a share, on Friday morning, to R587,00 a share by 11:30. The JSE's platinum index was up by 0,76%.