JOHANNESBURG (miningweekly.com) – Triple-listed platinum group metals (PGMs) miner Atlatsa Resources has appointed senior financial controller Kogi Naicker interim CFO, with effect from August 1.
Naicker replaces De Wet Schutte, whose fixed-term contract with the company came to an end after four years of service. His contract had previously been extended to assist in the implementation of Atlatsa Resources' and mining major Anglo American Platinum’s (Amplats’) R3.5-billion revised restructuring, recapitalisation and refinancing plan for Atlatsa and the Bokoni group of companies.
The restructuring followed a detailed strategic review, exposing Atlatsa’s likely inability – as a result of the tenuous current market environment – to repay a R3.3-billion debt to Amplats in the medium term.
Schutte would, however, remain a special adviser to Atlatsa pending the finalisation of the restructuring plan.
“We thank De Wet for his invaluable service to Atlatsa and wish him the best of success in his future endeavours,” CEO Joel Kesler said in a statement.
Atlatsa indicated that it would effect a permanent appointment to the CFO position in due course.