JOHANNESBURG (miningweekly.com) – Terence Goodlace, the former COO of South African gold major Gold Fields, has been appointed as the new CEO of diversified-group Metorex, the midtier miner announced on Tuesday.

Goodlace, who resigned from Gold Fields after “personal considerations” at the end of September, would take the helm at Metorex on March 2, succeeding Charles Needham.

Needham would become the group’s MD, focusing on corporate affairs, corporate governance and responsibility for subsidiary board affairs, human resources and project development.

The new CEO would focus on core operations across the miner’s base metals, precious metals and industrial minerals structure, as well as new project development and investor relations.

Chairperson Rob Still said that Goodlace’s “expertise on the ground and turnaround experience” would help the company realise its potential.

“He has extensive experience in general management, production, strategy and corporate finance,” Still added.

In December, the group announced a far-reaching restructuring programme, which led to Needham stepping down and the exiting of founder Simon Malone. The programme also led to the creation  an all-nonexecutive "board oversight committee", and the disposal of cash-consuming assets to pay for a new bank loan.

The group’s refocus strategy means that it has prioritised on the commissioning and ramp-up of its Ruashi II operations while maintaining profitability and profit growth from core operations.

To subscribe to Mining Weekly's print magazine email subscriptions@creamermedia.co.za or buy now.