JOHANNESBURG (miningweekly.com) – Nokhanyiso Ntsaluba will resign as financial director of South African mining group Mvelaphanda Resources at the end of the month, the JSE-listed company reported on Friday.

Ntsaluba decided to “pursue other opportunities” following Mvela Resources’ unbundling strategy, which would be completed in 2010.

Mvela Resources is unbundling its 62,8% stake in Northam Platinum to shareholders. It will use the proceeds to cofund the development of the long-awaited Booysendal project, which requires a first-phase investment of R3-billion.

Ntsaluba has been employed by Mvela Resources as FD since August 2005. No replacement was announced.

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