Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Appian Capital Advisory LLP, investment advisor to long-term private equity funds that invest solely in mining and mining-related companies, has appointed Khathutshelo ‘K2’ Mapasa as Head of Africa.
Based in Johannesburg, South Africa, Mapasa will lead the development of Appian’s business across the African continent. He will lead on due diligence, promote Appian’s value proposition with key partners, manage government relations, and originate investment opportunities, including clean energy investments.
Mapasa will also oversee portfolio companies in the region, with a focus on managing and optimising assets to generate value.
He is an engineer and executive with over 24 years’ experience in mining, engineering, and construction in Africa. He has direct experience in enhancing mine performance, business turnarounds, and leading engagement with key stakeholders, as well as a high level of familiarity with Appian’s existing portfolio, including recent acquisitions in Africa.
Prior to joining Appian, Mapasa was the CEO of Basil Read Group, a South Africa based construction, mining, and engineering services conglomerate for 6 years. He spent 3 years as the Executive Director: Mining, with responsibilities for subsidiaries providing contract mining and processing plants EPC.
Prior to that, he was with the De Beers Group of Companies for 14 years. Mapasa is a member of the Institute of Directors Southern Africa and the South African Institute of Mining and Metallurgy, and serves as a non-executive Director for several companies. K2 holds a B.Sc. in Chemical Engineering from the University of Cape Town and has studied at Harvard Business School.
This newly created Head of Africa role reflects Appian’s growing presence in Africa, the company said, with over 1,000 employees across the continent.
Appian is building on its historical and now exited investments in Burkina Faso, Cote d’Ivoire and Tanzania as well as its existing operating project in Namibia. Key target jurisdictions will be Namibia, Botswana, Zambia, and selective jurisdictions in East and West Africa.
“We are very excited to announce K2’s appointment, which reflects our renewed focus on Africa with its robust opportunities for energy transition metals,” Michael W. Scherb, CEO of Appian, said in a media statement.
“He brings deep experience in Africa, familiarity with our assets, and a proven track record of delivering results and driving growth. Africa remains a key region with tremendous potential if you have the required expertise and understanding of the markets involved.”
