
Thungela Resources has announced Moses Madondo as its new CEO, succeeding July Ndlovu, who retires on August 1.
The decision follows Ndlovu’s impending retirement at 60, as outlined in the company’s retirement policy.
Ndlovu, an engineer, has led Thungela since its 2021 spin-off from Anglo American, where he previously headed its coal division.
His departure comes amid challenges faced by South African coal producers, including a deteriorating rail network that hampers coal exports.
Companies like Exxaro Resources and Glencore are also grappling with similar logistical constraints.
Madondo, currently CEO of De Beers’ Managed Operations, overseeing diamond ventures in South Africa and Canada, was selected after a rigorous search process.
His leadership experience in the mining industry positioned him as the ideal candidate for Thungela’s evolving needs.
Thungela is currently expanding operations in Australia to offset volume losses caused by South Africa’s unreliable rail infrastructure.
Transnet, the state-owned port and rail operator, has faced significant issues, including equipment shortages, cable theft, and vandalism.
Madondo’s appointment signals a strategic pivot for Thungela as it navigates global challenges while striving for operational stability.