AECI
LIMITED
(Incorporated
in the Republic of South
Africa)
(Registration
number 1924/002590/06)
Share
code: AFE ISIN:
ZAE000000220
Hybrid
code: AFEP ISIN: ZAE000000238
Bond
company code: AECI
LEI:
3789008641F1D3D90E85
(AECI or
the Group)
APPOINTMENT OF INDEPENDENT NON-EXECUTIVE
DIRECTORS
In compliance with paragraph 3.59 of the JSE Limited (JSE) Listings
Requirements and paragraph 6.42 of the JSE Debt and Specialist
Securities Listings Requirements, AECI is pleased to announce the
appointments of Mr. July Ndlovu and Mr. Billy Mawasha as
independent non-executive directors to the Board of directors of
AECI, with effect from 1 January
2025.
"The addition of Mr. Ndlovu and Mr. Mawasha to the Board of AECI is
an exciting achievement that both strengthens our governance and
further diversifies the directorship. Their invaluable leadership
experience and deep knowledge of the mining industry will
contribute significantly towards enabling the Group's sustainable
growth" - said Dr Khotso Mokhele, Board Chair.
Mr. Ndlovu's career spans over 30 years in mining operations,
culminating in his appointment as Chief Executive Officer of
Thungela Resources Limited. He has been an executive in mining
since 2007, overseeing a variety of commodities across various
markets. He brings extensive experience in mining operations, large
scale projects and mergers & acquisitions in Southern Africa, as well as in Australia. He is known for his integrity and
visionary approach and is highly respected for his ability to drive
growth while maintaining a strong commitment to safety and
operational excellence. Mr. Ndlovu currently serves as Board Chair
of Futurecoal. His academic credentials include a Master's Degree
in Business Leadership from the University of South Africa and a BSc in Metallurgical
Engineering from the University of Zimbabwe. He has previously held senior
positions at leading organisations, including Anglo American plc, Bindura Nickel Corporation,
Zimasco and Zimbabwe Alloys. He also served as Board Chair of Unki
Platinum Mine.
Mr. Mawasha has extensive leadership experience in the South
African mining industry, having held various executive leadership
positions in De Beers, AngloGold Ashanti Limited and Kumba Iron Ore
Limited. He was Country Head of Rio Tinto, South Africa, and Managing Director of
Richards Bay Minerals. Mr. Mawasha holds a BSc, Electrical
Engineering, from the University of Cape
Town and brings a wealth of experience in driving growth,
innovation, operations, risk management, investments and project
delivery. He is the founder and Chief Executive Officer of Kolobe
Nala Investment Company and a non-executive director of Exxaro
Resources Limited, Impala Platinum Limited and Metair Investments
Limited.
The AECI board is pleased to welcome both Mr. Ndlovu and Mr.
Mawasha and looks forward to their contributions.
These appointments were made in accordance with AECI's Board
Nomination, Composition and Diversity policy.
Woodmead,
Sandton
18 December 2024
Equity
Sponsor: Rand Merchant Bank (a
division of FirstRand Bank Limited)
Debt
Sponsor: Questco Proprietary Limited