MC Mining names interim MD, CEO
Coal miner MC Mining has appointed nonexecutive director Christine He interim MD and CEO, with effect from July 1.
This follows the earlier announcement that Godfrey Gomwe has resigned as MD and CEO of JSE-, Aim- and ASX-listed MC Mining, with effect from June 30.
Gomwe joined the company in April 2022 as a nonexecutive director and was subsequently appointed MD and CEO later in the same month.
During his tenure, MC Mining carried out a rights issue, completed in November 2022, which facilitated the enhancement and progression of the studies required to build the Makhado hard coking steelmaking coal project, in South Africa, and the formulation of the detailed Makhado life-of-mine and implementation plans.
The increase in the reserves and hard coking steelmaking coal yields reported in the plan added significant value to the project, MC Mining avers.
Gomwe leaves MC Mining following the successful off-market offer by Goldway Capital Investment in April, which resulted in Goldway and its consortium members holding in excess of 93% of the issued ordinary shares of the company.
This process resulted in the vesting of Gomwe’s eight-million options, which can be exercised on or before April 27, 2027.
“On behalf of the board, I would like to thank Mr Gomwe for his significant contributions as MD and CEO. The company now has a foundation that positions it to finalise the fundraising required to develop our flagship Makhado project.
“Christine brings a wealth of commercial, financing and mining expertise that will be valuable to the company as we enhance the early coal strategy and advance the funding for the development of our flagship Makhado steelmaking hard coking coal project," says MC Mining interim chairperson Mathews Senosi.
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