Godfrey Gomwe appointed CEO of MC Mining
The board of MC Mining has appointed former South African Finance Minister Nhlanhla Nene as chairperson and former Anglo Coal leading light Godfrey Gomwe as CEO of the London Aim-, Sydney ASX- and Johannesburg JSE-listed South African coal exploration, development, and mining company.
The key projects of MC Mining include metallurgical and thermal coal asset Uitkomst Colliery, the hard coking coal Makhado project, the semi-soft coking and thermal coal asset Vele Colliery, and the coking and thermal coal Greater Soutpansberg projects.
Anglo Coal-experienced Mathews Senosi, who is CEO of the Overlooked Mining Group – a producer of 7.5-million-plus tonnes of thermal coal a year for the export and domestic markets – has been appointed nonexecutive director with immediate effect. Through Senosi Group Investment Holdings, Senosi is beneficially interested in 38 363 909 shares in the company.
Resolutions to appoint Nene and Gomwe as nonexecutive directors were passed at an extraordinary general meeting on April 11, ahead of which former chairperson Bernard Pryor and former nonexecutive director and interim CEO Sebastiano Randazzo resigned. Nene replaces Khomotso Mosehla, who served as interim chairperson following Pryor’s resignation.
Nene, 63, holds current directorships/partnerships in eight other organisations, including Thebe Investment Corporation and Access Bank South Africa.
Gomwe, 66, holds directorships/partnerships in 11 other organisations, including AECI and Econet Wireless Zimbabwe.
Senosi, 44, holds directorships/partnerships in 32 other organisations, including Dorstfontein Coal Mines, Forzando Coal Mines, Katlego Coal, Newcastle Coal Mines and JA Engineering.
Gomwe’s commencement began on Wednesday at an annual gross base remuneration of R5 724 500. The annual bonus eligible to him is an amount of up to 100% of base remuneration, dependent on business performance and board approval.
In terms of the performance rights plan, Randazzo is considered a ‘good leaver’ and the board approved the 4 871 406 unvested performance rights vested on his resignation as a director. Shareholders approved the granting of performance rights to Randazzo at the 2021 annual general meeting, MC Mining stated in a release to Mining Weekly a South African publication.
Source: Mining Weekly