John Wallington “’ now
appointed as managing
director of Miranda
Minerals
Miranda owns several coal assets and projects, mainly in KwaZulu-Natal, which it has been trying to develop without much success since about 2008. Wallington has been appointed MD of Miranda with effect from November 1 where he will team up with serial mining entrepreneur Rudolph de Bruin, who was appointed a non-executive director on August 16, reports BDlive.
Wallington could not be reached for comment.
de Bruin said: “John and I will be a team. Essentially, I will find the deals and he will vet them. You have to have somebody with John’s kind of experience in the coal business to make it work.”
de Bruin is a material shareholder in Incubex, which rescued Miranda from the morass that it had become bogged down in last year when trading in the stock had to be suspended after a boardroom feud that threatened the firm’s financial viability. At the end of August last year, Incubex held a 15.5% stake in Miranda.
Source: BDlive. For more information, click here.
