South African mining company, Metorex, which has large copper-cobalt interests in the Democratic Republic of the Congo and Zambia, has announced the appointment of Terence Goodlace as its CEO. Mr Goodlace, previously chief operating officer at Gold Fields, was appointed following a radical survival plan announced during the second week of December.
Former CEO Charles Needham has been moved to the post of managing director. Mr Goodlace left Gold Field in September for personal reasons.
In other moves at the director and management level, Keith Spencer and Edward Legg, currently executive directors of Meteorex have resigned, but remain with the company as technical advisers. Maritz Smith, previously an alternate director, has been appointed as group financial director with immediate effect.
George Forrest, Snr., resigned as a non-executive director of Metorex with immediate effect, due to time constraints. Forrest's nominated replacement, Pierre Chevalier, has been accepted by Metorex. Les Paton, a technical director of Impala Platinum, joined Metorex as an independent non-executive director.
In December, DRC regional mining minister Barthelemy Mumba Gama indicated that up to 300,000 people may lose their jobs in Katanga Province; 200,000 such jobs, mainly in artisanal mining, had already gone.
Katanga Mining is struggling to raise finance to fund its scaled-down ambitions, while Camec remains on halt at its key mines, including Mukondo. Anvil continues to seek funding, and while Africo remains relatively well cashed up, it appears to have put its flagship Kalukundi development on ice for now.
Source: Mineweb
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