Anglo American has announced the appointment of Themba Mkhwanazi as new CEO of Kumba Iron Ore (Kumba) following Norman Mbazima’s decision to step down after four years to focus on his role as Deputy Chairman of Anglo American South Africa.
Norman Mbazima will remain a member of the Group Management Committee and will oversee the processes to restructure and divest Anglo American’s non-core assets in South Africa, including its interests in the Kumba and thermal coal businesses.
July Ndlovu, Executive Head of Processing Operations at Anglo American Platinum since 2007, has been appointed CEO of Anglo American’s Coal business in South Africa. He replaces Themba Mkhwanazi.
[quote]The Kumba board’s appointment of Themba Mkhwanazi as CEO and Anglo American’s appointment of July Ndlovu as CEO of Coal South Africa will take effect on 1 September 2016.
Both roles will report internally to Seamus French, CEO of Anglo American’s Bulk Commodity business.
“We congratulate Themba Mkhwanazi and July Ndlovu on their new roles as CEO of Kumba and our South African coal business respectively. I thank Norman Mbazima for his tireless work to reshape Kumba’s cost structures over the last four years to create what is a much more resilient business to weather the lower iron ore price environment,” says Mark Cutifani, CEO of Anglo American.
Norman will now concentrate on how the company delivers value through the restructuring and divestment of its non-core businesses in South Africa as they continue to explore all appropriate options, as the company has been doing across its global portfolio of non-core assets.
“I have been privileged to lead Kumba through what has been a tough period for iron ore and for South African mining. Together with the Kumba team, we have transformed the business to put it on a firmer footing, making the difficult but necessary decisions to ensure the business’ profitability and long term health,” says Mbazima.
He wished Themba Mkhwanazi well as he takes up the role as CEO and looks forward to continuing to work closely with him and July Ndlovu as he considers the optimal divestment path for Anglo American’s non-core interests in South Africa.
The newly CEO says he is excited by the prospect of leading one of South Africa’s great stories such as Kumba which has a rich mineral endowment, skilled and dedicated workforce enabling them to produce high quality lump and fine iron ore products to their steel customers around the world.
“My energies will be focused on maintaining Kumba’s strong track records in safe production, mutually beneficial relationships and further increasing productivity to ensure the sustainability of the business for the benefit of all our stakeholders,” says Mkhwanazi.
On his appointment as CEO of Anglo American’s South African Coal business, July Ndlovu adds: “I am delighted to lead Anglo American’s South African coal business. I have always admired the business’ resolute commitment to the safety and wellbeing of its employees and sustaining this will be my priority.”
Ndlovu says his immediate focus will be on operational performance that meets the company’s customer needs, supporting the value of its domestic and export mines, working together with colleagues and their key stakeholders to advance the divestments.
Seamus French, CEO of Anglo American’s Bulk Commodity business, concluded: “Both Themba Mkhwanazi and July Ndlovu have proven abilities in leading safe and productive complex operations at a time when cost competitiveness is critical to the sustainability of any mining business.”
“Our priority for both businesses is to lead them safely through their divestment from Anglo American. We expect the price environment for both thermal coal and iron ore to remain,” says French.