Norman Mbazima (pictured), CEO of Kumba Iron Ore, which is 70% owned by Anglo American, has announced his resignation. Mbazima will be stepping down at the end of August in order to focus on the restructuring of the company, as well as Anglo American’s coal business. Anglo American said of the news:
"Norman Mbazima will remain a member of the group management committee and will have oversight of the processes to restructure and divest Anglo American's non-core assets in South Africa, including its interests in the Kumba and thermal coal businesses."
The UK-listed group is giving greater focus to strategic restructuring, a process which, according to Mbazima, is largely complete. The sale of the South African assets falls to Mbazima as deputy chairman of Anglo's South African unit.
During his tenure Mbazima successfully steered the company through a difficult restructuring programme that saw the mining plan for its Northern Cape Sishen mine greatly altered and its Thabazimbi mine closed altogether.
Themba Mkhwanazi, currently head of AngloCoal, will replace Mbazima to a large extent, while July Ndlovu, executive head of processing operations at Anglo American Platinum, will replace Mkhwanazi at the coal assets.
