PLATINUM mining firm, Zimplats, has appointed Murray & Roberts chief executive officer Stewart Mangoma as an executive director and chief finance officer.
Business Reporter
The appointment takes effect on March 1.
“Zimplats announces the appointment of Stewart Mangoma as an executive director and chief finance officer of both Zimplats Holdings Limited and Zimbabwe Platinum Mines (Private) Limited,” said Zimplats chief executive officer Alex Mhembere in a statement yesterday.
“Stewart joins the company on 1st March 2013 from Murray and Roberts (Zimbabwe) Limited where he is currently the chief executive officer. Prior to this, he held the position of group finance director for the same company.”
Mangoma, a chartered accountant, has also served in various financial roles at Tedco and Innscor Africa.
He joins Zimplats at a time when its Impala Platinum Mines, which owned 87% on January 11, signed the terms to sell 51% to the country’s black citizens.
Under the country’s indigenisation and economic empowerment regulations, foreign companies operating in the country are required to dispose of at least 51% to locals.
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In terms of the deal, the National Indigenisation and Economic Empowerment Board (NIEEB)’s fund got 31%, while employees and the Ngezi-Zvimba Community Share Ownership Trust got 10% each.
Mhembere recently told the local media that Zimplats would complete the expansion of a recovery plant on schedule in April, processing ore from a new two million metric tonnes underground mine.
“The $460 million project will increase annual production to 270 000 ounces from 187 000 ounces last year. The second stage, which is underground mining development, will reach full production in 2015 as originally planned,” he said.
