Kavango Resources PLC has announced the immediate resignation of Chief Executive Officer Ben Turney, marking a sudden shift in leadership for the Southern Africa-focused metals explorer, Mining Zimbabwe can report.
By Rudairo Mapuranga
Turney has also stepped down from the company’s board, prompting a series of interim appointments to ensure operational continuity.
Executive Chairman Peter Wynter-Bee will assume the role of interim CEO while the board searches for a permanent replacement. In further temporary changes, Non-Executive Director Donald McAlister will take on the responsibilities of interim Chief Financial Officer, and Gautam Dalal has been appointed as Chairman of the Audit Committee.
During his three-and-a-half-year tenure, Ben Turney was instrumental in steering Kavango’s strategic expansion into Zimbabwe. Under his leadership, the company established a significant operational footprint in the country and achieved a referral listing on the Victoria Falls Stock Exchange (VFEX).
In an official statement, Wynter-Bee acknowledged Turney’s contributions, saying, “I thank Ben for his contribution and wish him all the best for the future.” The announcement did not specify the reasons for Turney’s sudden departure.
The newly configured interim leadership brings together executives with deep regional experience, particularly in Zimbabwe. Chairman Wynter-Bee, along with Directors Donald McAlister and Hillary Gumbo, have a proven track record of collaboration, having previously worked together at Reunion Mining PLC. That company developed mines in Zimbabwe and Zambia before its acquisition by mining giant Anglo American PLC in 1999.
Donald McAlister, now interim CFO, brings extensive finance experience in Zimbabwe, having previously served as Finance Director for both Reunion Mining and Mwana Africa PLC. He has also held board positions at Freda Rebecca Gold Mine, the country’s largest gold mine, and Bindura Nickel Corporation.
The market reacted negatively to the news, with Kavango’s share price on the London Stock Exchange falling 15% to 0.85 pence following the announcement. This drop extends a challenging period for the company, whose stock has declined by 11% over the past 12 months amid broader sector-wide challenges.
Kavango Resources is a metals exploration and gold production company focused on assets in Botswana and Zimbabwe. In Zimbabwe, the company is developing its fully permitted, 100%-owned Hillside Gold Project, which includes the Nightshift and Bill’s Luck prospects. The company is pursuing a dual-track strategy, targeting near-term gold production in Zimbabwe while exploring for large-scale copper deposits in Botswana’s Kalahari Copper Belt.
The board expressed confidence in the interim team’s ability to guide the company forward. Wynter-Bee stated, “We have a strong team with the expertise and knowledge to help realise the full potential of our assets for the benefit of all stakeholders.”
