Ncondezi appoints Venter as CEO
JOHANNESBURG (miningweekly.com) – Following formal board review, Aim-listed Ncondezi Coal has appointed its current COO Paul Venter as CEO and executive director with immediate effect.
Venter, who joined Ncondezi as COO in June 2012, had more than 30 years of experience in the power industry and has worked for power generation companies and independent power producers in South Africa, Russia, China and Mongolia.
In addition to the appointment of Venter, and following the company's change in focus to power generation, the board had approved the restructuring of its existing share incentive scheme for directors, senior management and contracted personnel to ensure it was appropriate for a developing energy producer.
The scheme had been aligned with the power project milestones that would deliver the Ncondezi 300 MW power project into commercial operation, as well as recognised the delivery of the key technical aspects of the project to date, such as the power and mine definitive feasibility studies.
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