UK & South Africa – Mwana is pleased to announce the appointment of Mark Wellesley-Wood as Non Executive Chairman of the Company with immediate effect. Mark is a mining engineer and fellow of the Institute of Materials, Minerals and Mining, with over 40 years experience in both the mining industry and investment banking.
Until recently Mark was a director of Investec Investment Banking and Securities in London, prior to which he was Head of Corporate Finance at Ambrian Partners. Mr. Wellesley-Wood has also previously worked at Dresdner Kleinwort Benson as the global sector head for metals. He has been closely involved in mining activities in Southern Africa, having started his career on the Zambian copper-belt and has since held the positions of Executive Chairman and Chief Executive Officer of South African gold miner, DRDGold Limited. He has also been the CEO of Metallon Gold Ltd (Redwing Mining), which operates gold mines in Zimbabwe.
Kalaa Mpinga, CEO of Mwana Africa commented: “Mwana Africa is now entering a new phase of its development focusing on operational delivery from its two mines in Zimbabwe and the development of the Zani Kodo gold deposit in the DRC. Mark’s considerable operational and corporate experience will greatly assist us in delivering the maximum value from these assets. In addition, the Company has recently announced a restructuring aimed at reducing corporate costs and concentrating on cash flow generation and I believe Mark will be a valuable addition to the Board as it looks to achieve these objectives. ”
Mark Wellesley-Wood, Non-Executive Chairman of Mwana Africa commented: “I am pleased to have the opportunity to work with Mwana and look forward to bringing my experience to the Company as it focuses on operational delivery and creating shareholder value from its assets. I look forward to providing leadership to both its Board and management.”
About Mwana Africa PLC
Mwana Africa PLC is a pan-African, multi-commodity mining and development company. Mwana’s principal operations and exploration activities cover gold, nickel, copper and diamonds in Zimbabwe, the DRC and South Africa.
Mwana’s Freda Rebecca gold mine in Zimbabwe, having restarted operations in 2009, produced 65,350 ozs of gold in the 12 months to March 2013.
In February 2013, Mwana announced that the gold mineral resource at its Zani Kodo project in Democratic Republic of Congo had increased to 2.6 million ounces.
In February 2013, Mwana announced it had signed a Joint Venture Agreement with Zhejiang Hailiang Company Limited to jointly explore some of its copper license areas in the Katanga Province of the DRC.
The restart of operations at The Trojan Nickel Mine (owned by Mwana’s Zimbabwe subsidiary Bindura Nickel Corporation (“BNC”)) followed four years during which all of the BNC assets were on care and maintenance. In September 2012, BNC carried out a restructuring and recapitalisation involving US$23m being invested into BNC which has allowed it to restart the Trojan mine. First sale of concentrate to Glencore took place in April 2013.
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