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MVELA APPOINTS NEW EXECUTIVE TEAM
MVELAPHANDA RESOURCES LIMITED
(Incorporated in the Republic of South Africa)
Reg. No. 1980/001395/06
Share Code : MVL
ISIN Number : ZAE000050266
("Mvela Resources")
12 February 2004
MVELA APPOINTS NEW EXECUTIVE TEAM
Johannesburg, 12 February 2004. Mvelaphanda Resources Limited (Mvela),
announced today that Mrs Nthobi Angel has been appointed as Chief Executive
of the company with effect from 16 February 2004.
Following thereafter, and effective from 23 February 2004, Mr Pine Pienaar
will be appointed an executive director of the company.
Mrs Angel, (49) who has a BA Honours degree and an MSc, was until recently an
executive director with responsibility for strategic affairs at Engen
Petroleum Limited, with hands-on involvement in both operational and
strategic matters at board level. Mrs Angel has also held the position of
Chief Operating Officer in the office of the Presidency, with responsibility
for Strategic Planning and Communications. A particular area of focus in
this position was mobilising South African involvement in the New Economic
Partnership for Africa"s Development (NEPAD) initiative.
Pine Pienaar (39) has held the position of New Business Executive at Harmony
Gold since April 2003. During the same period he was a non-executive
director of Avmin. Pine was instrumental in the repositioning of Avmin as an
empowerment entity, and played a leading role in Harmony"s acquisition of
Avgold. Prior to that he was responsible for corporate development with a
focus on acquisitions. He has also served as operational executive for
Harmony"s Free State operations. Pine has a CA. In the late nineties he
was responsible for the listing of a number of South African gold companies
on NASDAQ, while with Randgold and Exploration.
Mvela chairman Tokyo Sewale said today that he was delighted with these
appointments. "Nthobi Angel"s excellent record and her commercial expertise
will bolster Mvela"s ambitions to become a truly pan African mining company.
Mvela has much to gain also from Pine Pienaar, who already has a significant
and proven track record in value adding mergers and acquisitions in the
mining sector. His experience in the gold mining sector will also certainly
be useful with respect to our Gold Fields acquisition.
"Importantly," added Sexwale, "the appointment of Nthobi heralds a signal of
true empowerment and transformation in the mining industry, something which
Mvela has always striven for. I am confident that Nthobi and Pine will
contribute to reinforcing Mvela"s position as a leader in this sector, while
making a significant contribution also to our business development."
The following individuals have indicated their willingness to join the Mvela
board. Their appointments will become effective after the consummation of
Mvela"s acquisition of a 15% stake in Gold Fields Limited"s South African
assets.
Michael Beckett - currently chairman of Ashanti Gold Fields; Oxus Gold plc;
Clarkson PLC. He is also a director of Queen"s Moat House and Northam
Platinum Limited.
Clyde Johnson - previously a metallurgist with the Anglo American group.
Currently chairman of Sedibeng Mining and senior executive at Mvela Holdings
Oyama Andrew Mabandla - Executive vice president and general counsel SAA;
previously advocate at the South African Bar; experience as a merchant banker
at the Union Bank of Switzerland;
Nomazizi Mtshotshisa - chair of Telkom Limited; director of Khumama Platinum
(Pty) Ltd and previous director of the Industrial Development Corporation
(IDC).
Paseka Ncholo - Chairman of Khumo Bathong Holdings Limited; director of
Durban Roodepoort Deep, Limited.
Robinson Ramaite - Director of Khumama Platinum (Pty) Ltd; director of
Khumama Platinum; Arivia.kom; MRR Consulting, the Sifikile Group and Simeka
Investments; until recently Director General of the Department of Public
Service and Administration
Shareholders will be advised of these appointments as soon as it is prudent
to do so.
Meanwhile, Tokyo Sexwale retains the position of non-executive chairman. He,
together with Bernard van Rooyen, Mark Willcox and Mikki Xayiya, who have
played a pivotal role in growing the business, will serve on an executive
committee, to which both Nthombi Angel and Pine Pienaar will report.
Eric Molobi and Richard Shead will remain on the board as non-executive
directors.
For further information:
Mark Willcox: Tel: +27 82 823 6666
Bernard van Rooyen: Tel: +27 82 659 1421
Mikki Xayiya: Tel: +27 82 888 1085
Date: 12/02/2004 04:25:03 PM Produced by the JSE SENS Department
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