Gomwe leaves the company after the successful off-market offer by Goldway Capital Investment in April
24 June 2024 - 10:53
byJacqueline Mackenzie
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Godfrey Gomwe will step down as MD and CEO of MC Mining at the end of June, the company said on Monday.
Gomwe joined MC Mining in April 2022 as a non-executive director and was subsequently appointed MD and CEO later the same month.
During his tenure, MC Mining carried out a rights issue, which was completed in November 2022.
The rights issue facilitated the enhancement and progression of the studies required to construct the shovel-ready Makhado hard-coking steelmaking coal project and the formulation of the detailed Makhado life of mine and implementation plans, the company said.
The increase in the reserves and hard coking steelmaking coal yields reported in the plan added significant value to the project.
Gomwe leaves the company after the successful off-market offer by Goldway Capital Investment in April, which resulted in Goldway and its consortium members holding more than 93% of the company’s shares.
This process resulted in the vesting of Gomwe’s 8-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 fund raising required to develop our flagship Makhado steelmaking hard coking coal project,” said Mathews Senosi, MC Mining interim chairperson.
The company plans to release an update on the MD and CEO position shortly.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
Godfrey Gomwe steps down as CEO of MC Mining
Gomwe leaves the company after the successful off-market offer by Goldway Capital Investment in April
Godfrey Gomwe will step down as MD and CEO of MC Mining at the end of June, the company said on Monday.
Gomwe joined MC Mining in April 2022 as a non-executive director and was subsequently appointed MD and CEO later the same month.
During his tenure, MC Mining carried out a rights issue, which was completed in November 2022.
The rights issue facilitated the enhancement and progression of the studies required to construct the shovel-ready Makhado hard-coking steelmaking coal project and the formulation of the detailed Makhado life of mine and implementation plans, the company said.
The increase in the reserves and hard coking steelmaking coal yields reported in the plan added significant value to the project.
Gomwe leaves the company after the successful off-market offer by Goldway Capital Investment in April, which resulted in Goldway and its consortium members holding more than 93% of the company’s shares.
This process resulted in the vesting of Gomwe’s 8-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 fund raising required to develop our flagship Makhado steelmaking hard coking coal project,” said Mathews Senosi, MC Mining interim chairperson.
The company plans to release an update on the MD and CEO position shortly.
mackenziej@arena.africa
Goldway finalising MC Mining takeover
Shareholder targets director in MC Mining takeover bid
Vulcan Resources will not proceed with offer, says MC Mining
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most Read
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.