Murangari resigns as BNC MD


HARARE – David Murangari has resigned as managing director of Bindura Nickel Corporation (BNC).

His resignation is with effect from November 11, 2013.

The former Zimbabwe Chamber of Mines president — who joined the Mwana Africa Plc (Mwana) flagship subsidiary in May 2007 — will remain on the nickel producer’s board as deputy chairperson.

He will be replaced by BNC’s chief operating officer (COO), Batirai Manhando.

“Consequently, the position of COO…is dissolved,” said Kalaa Mpinga, BNC’s chairperson.

Mpinga said other changes to BNC’s board included the appointment of Herman Jacobs as finance director and Yim Chiu Kwan, Mwana’s finance director, as non-executive director.

Mwana owns a 52,9 percent stake in BNC, the only fully-integrated nickel operation in Africa.

Meanwhile, BNC recently said it expects production at its Trojan Mine to increase by nearly 30 percent to 32 975 metric tonnes per annum after implementation of a proposed business plan by United Kingdom-based SRK Consulting (SRK).

The mine — put under care and maintenance in 2008 due to viability challenges — restarted operations last year.

The SRK plan indicates that Trojan had proven and probable reserves of 3 168 metric tonnes at an average grade of 1,04 percent for 32 975 tonnes of nickel, a 28 percent increase compared to 25 810 tonnes of contained nickel last year.

“SRK has reviewed the business plan for the re-start of operations at Trojan and considers the plan both realistic and achievable,” said BNC in a trading update last month.

The nickel producer pointed out that there was likelihood that on further technical studies and exploration, more resources will be unearthed and that plans were currently being undertaken.

“The construction of the infrastructure required to access deeper levels has already commenced,” it said.

Mining experts contend that the recent first shipment of concentrate from Trojan marks a major milestone in the restoration of the company’s nickel assets, following a four-year period of care and maintenance.

The timing of the shipment was in line with previous guidance where Mwana indicated that it will ship at least 7 000 tonnes of nickel concentrate per annum to Swiss-headquartered global commodities giant, Glencore International (Glencore).

Following the refurbishment of the surface milling, flotation, tailings and concentrate handling facilities, hot commissioning has been successfully completed and the first shipment of nickel concentrate was trucked from the Trojan Mine to Durban.

David Murangari oversaw the restart of production at BNC’s Trojan mine, which had been placed under care and maintenance from 2008 to 2012.

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