JOHANNESBURG (miningweekly.com) – Platinum group metals (PGM) producer Sedibelo Platinum Mines on Thursday reported that its CEO Tom Dale would step down.
CFO Erich Clarke was appointed interim CEO.
Dale had served as CEO of Sedibelo and its predecessor companies since 2009. “During his five-year tenure, he was instrumental in building our operations and oversaw significant increases in output and recoveries, and reductions in unit operating cost.
“Dale indicated some time ago his wish to step down and his retirement has now been agreed. He will continue to be associated with the company as an adviser so that his in-depth knowledge of the company and its operations will be available to the management team and the board during the transition,” the company said in a statement.
COO Casper Badenhorst would closely support Clarke and they would report directly to newly appointed executive deputy chairperson Arne Frandsen.
Under their leadership, Sedibelo would continue the development of its shallow orebodies and its preparations for an initial public offering (IPO) once commodity and equity markets improve.
“I have worked with Dale since the 1980s and he is one of the true stalwarts of our industry. On behalf of the board and our shareholders, I want to express our gratitude for the unique contribution Dale has provided. Under his leadership, Sedibelo has grown into an exciting PGM producer. I wish him all the best in his well-earned retirement,” chairperson Brian Gilbertson said.
Frandsen added that, in 2009, Dale agreed, for a period of two to three years, to take over as the CEO of Sedibelo, “before becoming a full-time rock musician in his retirement,” he quipped.
“Dale has been instrumental in building our operations, and leaves the company having reported its maiden year of profit. With Sedibelo preparing for its IPO, and with me leading this effort, it is logical that we take control of the management of Sedibelo. We have now started the search for a permanent CEO, who can be at the helm of Sedibelo as it becomes a major listed mining company,” Frandsen concluded.