Zimbabwe may sell 40% stake in a key gold mine to raise capital
Zimbabwe’s largest gold producer is negotiating with potential partners to boost production at its Shamva mine.
Anglo American Platinum (JSE: AMS) — Amplats — has named its current finance director Craig Miller as the new chief executive officer of the company, effective October 1.
Miller will take over the post at the world’s top producer of platinum group metals (PGM) from Natascha Viljoen, who is joining Newmont (NYSE: NEM)(TSX: NGT) as chief operating officer.
Miller has been Amplats’ finance director since 2019, after holding other senior financial roles within parent company Anglo American (LON: AAL). These include the role of CFO of Anglo’s iron ore business in Brazil and its coal operations in South Africa.
Viljoen took over as Amplats CEO in April 2020, becoming the company’s first female to hold the top job.
Miller, who began his career as a trainee accountant at Deloitte in Johannesburg, will have to deal with falling palladium and rhodium prices that threaten to curb profit margins.
He will also face geological challenges at Amplats’ two main assets — Mogalakwena and Amandelbult. The operations have been hit by an 11-week plant breakdown, lower grades and electricity supply disruptions.
Amandelbuilt, its second most productive mine, was also impacted in the first half of the year by infrastructure closures and poor ground conditions.
