Thungela Resources Limited
Incorporated in the Republic of South
Africa
Registration number:
2021/303811/06
ISIN: ZAE000296554
JSE share code: TGA
LSE share code: TGA
("Thungela" or "Company")
Appointment of Chief Executive Officer
Designate
In accordance with paragraph 3.59 of
the JSE Limited Listings Requirements, Thungela hereby notifies
shareholders of a proposed change to the Company's Chief Executive
Officer ("CEO").
The Company's current CEO, Mr. July
Ndlovu, will reach the retirement age of 60 years in July 2025 and,
in accordance with the Company's retirement policy, is scheduled to
retire from the employment of Thungela in 2025. July's exceptional
leadership, his extensive mining experience and guidance have
contributed to the growth and success of the Company.
Following a comprehensive selection
process, the board of directors of Thungela ("Board") is pleased to
announce the appointment of Mr Moses Madondo as the incoming CEO
designate, effective 1 August 2025. Moses will succeed July, who
will continue in his role until he steps down to facilitate a
seamless transition.
Moses is currently the Chief
Executive Officer of De Beers Group Managed Operations and brings
over 25 years of mining experience to the role in various senior
leadership positions.
Moses has also served on several
divisional boards and as a board member of the Minerals Council of
South Africa and Rand Refinery Ltd. He has demonstrated strong
operational and technical skills and holds an Executive MBA, a Post
Graduate Diploma in Management Practice, and a Bachelor of Science
in Mechanical Engineering.
The Board welcomes and looks forward
to working with Moses.
Tovi Ellis
Company Secretary
coseccoalsa@thungela.com
UK Financial adviser and corporate
broker
Panmure Liberum Limited
Sponsor
RAND MERCHANT BANK (A division of
FirstRand Bank Limited)
Rosebank
21 January 2025
