Nene joins MC Mining board as nonexec director
Coal miner MC Mining has announced the appointment of multilateral institution veteran and former Finance Minister Nhlanhla Nene to its board as a nonexecutive director.
A number of board changes have been made following an extraordinary general meeting (EGM) on April 11.
The removal of chairperson Bernard Pryor and nonexecutive director and interim CEO Sebastiano Randazzo had been on the agenda for the EGM, but both chose to resign from their positions ahead of the meeting.
Resolutions to appoint Nene and Godfrey Gomwe as nonexecutive directors were passed during the EGM.
Gomwe brings more than 30 years’ experience in the metals and mining industries. He is a former CEO of Anglo American’s thermal coal business and a former executive director of Anglo American South Africa.
Prior to his tenure at Anglo, Gomwe held various leadership positions and directorships in listed and unlisted companies.
In addition to having served as deputy Finance Minister and Finance Minister in recent years, he has also served as chairperson of the Public Investment Corporation.
He is currently chairperson of the supervisory board of Dutch investment company Arise and a nonexecutive chairperson of Thebe Investment Corporation.
MC Mining called an EGM after minority shareholders, with a 6.8% stockholding collectively, called for the resignation of key executives amid delays in building the company’s R575-million Makhado thermal and metallurgical coal mine.
The company has been struggling to raise funds for this flagship coal project, in Limpopo, as lenders have become increasingly wary of financing fossil fuel projects.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation