Ndlovu, currently an independent non-executive director, will take over after the AGM on May 5, 2026; Kelly remains on board as a non-executive director.
Gold-focused miner Caledonia Mining Corporation Plc has announced that July Ndlovu, currently an independent non-executive director, will become the new Chairman of the Board, succeeding John Kelly as part of the company’s planned succession process, Mining Zimbabwe can report.
By Rudairo Mapuranga
Kelly, who joined the Board in May 2012 and has served as Chairman for the past three years, will step down from the role effective at the end of the Annual General Meeting to be held on May 5, 2026. He will continue to serve as a non-executive director, subject to his re-election by shareholders at the AGM, ensuring continuity and the ongoing benefit of his experience.
Ndlovu’s appointment as Chairman is subject to election by the Board immediately following the AGM, in accordance with the annual Chairman election process. An official announcement confirming the new Chairman will accompany the results of the AGM.
During Kelly’s tenure as Chairman, he guided the Board through a significant period of transition at Caledonia, overseeing continued operational delivery at Blanket Mine while supporting the advancement of the company’s growth strategy, including the development of the Bilboes gold project.
“It has been a privilege to serve as Chairman over the past three years and to have supported the Company through a period of significant transition and change,” said John Kelly. “Caledonia is well positioned for the future, underpinned by the strong performance of Blanket Mine and the progress being made towards Caledonia’s next phase of growth. I have no doubt that July, as Chairman, will enhance the prospects for our continued success. I look forward to continuing to support the Board and management as a non-executive director and to working closely with the new Chairman.”
July Ndlovu brings extensive board experience to the role.
“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.
“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 the management team to help guide the Company through this next phase and to deliver long-term value for shareholders.”
Mark Learmonth, Chief Executive Officer of Caledonia, added: “On behalf of the Board and management team, I would like to thank John for his contribution and counsel over many years, and particularly for his stewardship as Chairman over the past three years during a period of change for the Company. His guidance and focus on governance and strategic progress have been invaluable, and I am glad that he intends to remain on the Board. I look forward to working closely with July once he is formally elected by the Board as Chairman as we continue to advance Caledonia’s strategy, including the development of the Bilboes project.”
The leadership transition comes as Caledonia continues to advance its Bilboes gold project in Zimbabwe, having recently appointed Stanbic and CBZ as co-lead arrangers for a US$150 million interim funding facility. The company also reported first-quarter 2026 production of 14,767 ounces at Blanket Mine, maintaining full-year guidance of 72,000 to 76,500 ounces.
