CALEDONIA Mining Corporation Plc (Caledonia) is set for a boardroom shake-up after chairman John Kelly announced plans to step down this month, with Zimbabwean mining executive July Ndlovu lined up to take over the role.
This comes as the miner advances its Bilboes Gold Project, which will become Caledonia’s new flagship business by 2028 replacing Blanket mine.
The shift in its flagship operating business is due to the Bilboes Gold project having a higher gold production output as it is expected to produce five tonnes of the mineral annually once developed.
In that regard, Caledonia has allocated US$132,1 million in capex to Bilboes this year.
“Caledonia Mining Corporation Plc (Caledonia or the company) announces that John Kelly has notified the board of directors of the company (the board) of his intention, as part of the board’s succession plan, to step down as chairman of the board (the chairman) with effect from the end of the annual general meeting of the shareholders of the company to be held on May 5, 2026 (the AGM),” Caledonia said in a statement.
“The board is pleased to announce that July Ndlovu, currently an independent non-executive director, has offered to become the new chairman.
“His appointment as chairman is subject to election by the board immediately following the AGM in accordance with the annual chairman election process.”
The announcement of the new chairman will accompany the announcement of the AGM results.
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“Mr Kelly, who joined the board in May 2012 and has served as chairman for the past three years, will, providing he is re-elected as a director of the company by shareholders at the AGM, continue to serve on the board as a non‑executive director, thus providing continuity and the ongoing benefit of his experience and insight,” Caledonia said.
“During his tenure as chairman, Mr Kelly has guided the board through a significant period of transition and change at Caledonia, providing stewardship over the continued operational delivery at Blanket Mine while supporting the advancement of the Company’s growth strategy.”
Thus, Ndlovu’s arrival as the new chairman will be key as the board seeks to advance its highly lucrative Bilboes gold project.
Apart from this, Caledonia is also advancing its other gold mining interests, the Motapa and Maligreen projects, which puts the miner on course to becoming the largest gold miner nationally.
“I am honoured to be considered for the role of chairman at an important point in the company’s development.
“The business has strong operating foundations and a compelling growth opportunity in the Bilboes project, which has the potential to take Caledonia into its next stage of growth,” Ndlovu said.
“I would also like to thank John, on behalf of the board, for his leadership and guidance as chairman.
“I am very pleased that he will continue to serve as a non‑executive director, and I look forward to working closely with him, the board and management team to help guide the company through this next phase and to deliver long‑term value for shareholders.”
