Impala Platinum CEO to step down

JOHANNESBURG (miningweekly.com) – Impala Platinum (Implats) on Wednesday announced that its CEO, Terence Goodlace, would step down on December 1.

Goodlace, 57, who began as a R200-a-month learner miner, has been with the platinum-group metals mining, processing, refining and marketing company for six years.

The Master of Business Administration has managed the R85-billion, 60 000 personnel mining business with a professional contingency style of management since joining them from the Metorex base-metals mining company, which he recapitalised and repositioned as a financially sound operation.

He regards his biggest ever opportunity as working at Gold Fields during its international growth phase and said in a stock exchange news service announcement that he was departing with a sense of pride.

Implats chairperson Dr Mandla Gantsho drew attention to Goodlace being at the helm during a difficult time for the platinum mining sector and the mining industry generally and expressed gratitude for the long notice period he had given.

The company said that the Implats board would be reviewing its leadership succession plans as well as embarking on a structured search process to fill the vacancy.

Mine deaths have devastated Goodlace, who made it known in the company’s latest presentation of results that the loss of six lives in the quarter had completely overshadowed the encouraging progress the company was making to build a stronger and more robust company.

He strongly lamented the deaths of four employees in the underground fire at Shaft 14 at Impala Rustenburg and deaths of two employees at the Mimosa platinum mine in Zimbabwe, which he said had left a pall of grief over the company.

“We continue to mourn,” was the headline, which was exacerbated again this week by a major fall of ground incident at Rustenburg that triggered an intensive search for two missing miners, who were still trapped at the time of going to press.