Kumba Resources Limited - Kumba Appoints `Newco" Top Management
Kumba Resources Limited
Incorporated in the Republic of South Africa
(Registration Number: 2000/011076/06)
Share Code: KMB
KUMBA APPOINTS `NEWCO" TOP MANAGEMENT
Kumba Resources Limited (Kumba) has announced that the company"s current chief
executive officer, Dr Con Fauconnier, will remain as the chief executive officer
of the yet-to-be-named Newco, which will be a revised listing of Kumba on the
JSE Limited by mid-2006 as part of Kumba"s empowerment transaction announced in
The empowerment transaction will involve the unbundling of Kumba into two
separately listed entities, namely Newco and Kumba Iron Ore Limited.
Con will remain as the chief executive officer for a period of 12 months, from
the date of Newco"s listing. He will be succeeded as chief executive officer by
Sipho Nkosi, current chief executive officer (CEO) of Eyesizwe Coal. During the
12 month period, Sipho will be chief executive officer (designate).
The Kumba Board"s decision regarding the chief executive officer and chief
executive officer (designate) appointments is based on providing Sipho with an
effective handover period; Con"s desire to retire at the end of the period; and
continuity and a transitional period for the new executive team.
As part of the transition process, Charles Meintjes, Kumba"s current executive
director, corporate services, has decided to pursue his own interests. However,
Charles will continue to oversee the implementation of the empowerment
transaction as well as the transition and integration processes until year end.
Other top management team positions include Dirk van Staden as chief financial
officer (CFO); Mike Kilbride as chief operating officer (COO); Dr Humphrey Mathe
as executive general manager, corporate services; Trevor Arran as executive
general manager, corporate affairs and investor relations; and Marie Viljoen as
group company secretary. The position of executive general manager, human
resources, will be filled in due course.
Newco Top Management - Brief biographies are as follows:
Dr Con Fauconnier: Pr Eng (Int), BSc (Eng)(Mining), BSc (Hons)(Eng), MSc (Eng),
DEng (Pretoria), MBA (Oregon), DSc (hc) (Free State); Strategic Leadership
Programme (Oxford), Senior Executive Finance Programme (Oxford). Con has spent
his entire career in the mining industry and has been chief executive of Kumba
since it was listed in 2001. Prior to this he was managing director of Iscor
Mining from February 1999 and deputy managing director of Iscor Mining and a
member of the Board of Iscor Limited since 1997. Con worked for the Anglo
American Corporation, Gencor (Billiton) and JCI Limited prior to joining Iscor
in 1995 as general manager business development. Other management positions held
include chief executive of the Coal and Base Metals Division of JCI Limited, and
senior manager in the Technical Services Division of Gencor Limited. Con is an
executive director of Kumba Resources and also serves on various Boards of
subsidiaries of the company. In 2004 and 2005 he served as president of the
Chamber of Mines of South Africa.
Sipho Nkosi: BCom, BCom (Hons)(Econ), MBA, Diploma in Marketing Management.
Sipho is a founding member of Eyesizwe and has a depth of experience in the
energy and coal sectors both locally and internationally. Prior to forming
Eyesizwe, he was country manager of ABB Alstom Power (SA), having previously
worked with Anglo Coal (Amcoal) and Ingwe (Billiton). He was export-marketing
coordinator in the international marketing division of Amcoal from 1986 to1991.
In 1992 Sipho joined Ingwe as the marketing manager responsible for
international coal marketing
He sits on a number of boards including Kumba, the Canadian mining company Great
Basin Gold, and African Life Insurance where he is chairman. In addition, he
sits on the board of Richards Bay Coal Terminal (RBCT) and is currently
chairperson of the collieries committee of the Chamber of Mines of South Africa.
Dirk van Staden: BJuris, LLB, Advanced Management Programme (Insead). Dirk has
26 years" experience in finance, 11 of these in the mining industry. He has been
executive director, finance, and an executive director of Kumba, since it was
listed in 2001 and also serves on various boards of subsidiaries of the company.
Dirk was General Manager with responsibility for foreign and domestic treasury
operations and project finance at the IDC, before he joined Iscor in 1997 as
General Manager, Corporate Treasury. He has also served as a director of Export
Credit Insurance Corporation of South Africa Limited.
Mike Kilbride: BSc (Hons)(Min Eng)(RSM), Senior Executive Programme (London
Business School). Mike has 28 years" experience in mining. Mike is a fellow of
SAIMM and an associate of the Royal School of Mines. He has been executive
director, business operations, and an executive director of Kumba, since it was
listed in 2001 and also serves on various boards of subsidiaries of the company.
After completing his degree, Mike joined Anglo American (gold division) and
subsequently joined Iscor at the end of 1978. He has served Iscor Mining in
various senior capacities in both, operations and strategic business units,
prior to the unbundling of Iscor Mining from Iscor.
Dr Humphrey Mathe: PhD (Geology), MSc (Mineral Exploration), BSc
(Hons)(Geology). Humphrey has more than 30 years" experience in the mineral
exploration and mining industries and he has also lectured in economic geology
and structural geology at the University of Zululand. He is currently operations
director for Eyesizwe Coal. Prior to this he headed Eyesizwe Coal"s technical
and new business development division until 2003, and a consulting geologist at
the company since joining it in 2001.
Humphrey has worked as a chief exploration geologist for West Rand Consolidated
Mines Limited and for Harmony Gold. He has also worked for Gencor as senior
exploration geologist and Aurora Exploration and Development as a project
manager in the feasibility study of the Goldridge deposit.
He is currently a non-executive director of the South African Diamond Board,
Ferret Mining, Mafube Colliery and the Witwatersrand Consolidated Gold Resources
(Pty) Limited and the Investment Committee member of the New Africa Mining Fund.
He is a Fellow of the Geological Society of South Africa and is registered as a
professional natural scientist with the South African Council for Natural
Trevor Arran: BSc (Geology), BSc (Hons)(Econ Geology), Advanced Management
Programme (GIBS-UP), BEP, Dip Project Management. Trevor is currently Kumba"s
general manager, corporate affairs and investor relations, incorporating the
company"s sustainable development department. He also serves on various boards
of subsidiaries of the company. Prior to joining Kumba in late 2002, he has
previously worked as a Mining Analyst at JPMorgan Equities and has also been
employed by Gold Fields of South Africa (Mineral Economics and New Business),
BHP Diamonds, Anglo American and De Beers. He has a wide ranging mining
background supplemented by financial experience gained in the equity markets and
Marie Viljoen: Marie has 20 years" experience in the company secretariat field
and has been Kumba"s company secretary since it was listed in 2001. Previously
Marie has been employed by Safair, Fedfood Ltd and the Bidvest Group.
Kumba Iron Ore
In January 2006 Kumba announced the appointment of Ras Myburgh as CEO
(designate) of Kumba Iron Ore and general manager of Sishen Iron Ore Company
from February 2006. Fergus Marupen, currently Kumba Resources general manger for
human resources, will be appointed as general manager, human resources
(designate) at Kumba Iron Ore
Kumba Iron Ore - Brief biographies are as follows:
Ras Myburgh: BEng (Elec); BSc (Hons) (Energy Studies); MBA; EDP. Prior to his
appointment as Kumba Iron Ore"s chief executive officer (designate), Ras was
Kumba Resources general manager responsible for transformation and empowerment,
having played a major role in restructuring the company. He chairs the board of
directors of two Kumba subsidiaries, and has served on the board of directors of
Sishen Iron Ore Company since June 2004. Other prior Kumba positions include
general manager of Kumba Coal and general manager responsible for continuous
Fergus Marupen: BA (Hons Psych); BEd; MDip (HR); MBA; Advance Management
Programme. Fergus joined Iscor in 1994 as personnel officer-in-training and was
appointed general manager human resources at Kumba ten years later.
Kumba Resources Limited, one of the largest South African-based mining companies
listed on the JSE Securities Exchange, is a focused metals and mining company
with a diverse commodity portfolio consisting of iron ore, heavy minerals, coal,
base metals and industrial minerals. www.kumbaresources.com
Kumba"s empowerment transaction will establish Newco as South Africa"s flagship
empowerment mining company with an enterprise value of approximately R16 billion
- this will be South Africa"s largest black-owned, controlled and managed
company. Newco will be controlled by broad-based BEE groups via BEE Holdco, the
black controlled holding company holding 55% of Newco. Women"s groups will hold
a 17.8% effective and fully funded interest in BEE Holdco.
General Manager: Corporate Affairs & Investor Relations
Tel: +27 (0) 12 307 3292
Mobile: +27 (0) 83 609 1444
Sponsor: J.P.Morgan Equities Limited
Date: 23/02/2006 02:00:07 PM Produced by the JSE SENS Department