– UK, London / South Africa, Johannesburg – The Company today announces the appointment of Mr Yim Chiu Kwan, who will be joining the Mwana board as Finance Director with effect from 1 October 2013. Mr. Kwan, a chartered accountant, has over 30 years experience in finance and commercial roles accumulated from positions in accounting firms and private and public corporations. He is currently Chief Financial Officer and board director of MBMI Resources Inc., a mining company focused on the exploration and development of nickel projects in the Philippines that is listed on the TSX-V in Canada.
Mr Donald McAlister is leaving the Board of the Company with effect from 30 September 2013. Mr McAlister has been Mwana’s Finance Director since 27 October 2009 and has played an important role in Mwana’s financing and restart of operations at the Group’s two producing mines, Freda Rebecca Gold Mine and the Trojan Nickel Mine. Mr McAlister’s departure results from Mwana’s decision to significantly scale down its London office and to relocate administrative and corporate functions to Africa.
Kalaa Mpinga, Chief Executive Officer of Mwana, stated: “I am very sad to be announcing Donald’s departure from Mwana Africa after four years of dedicated service. He has played an important role in the refinancing and recommissioning of our two producing mines in Zimbabwe. However, as with all our peers in the mining sector, Mwana is conscious of the need to reduce overheads and the scaling down of our London office forms part of our cost cutting strategy.
At the same time I am delighted to welcome Yim as the new Finance Director. Yim speaks both Mandarin and Cantonese fluently, and brings with him a wealth of finance and commercial experience in North America, Asia and Africa that will be a very valuable contribution to Mwana.”
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