Bati leaves BNC as a transitional process kicks-in following ownership changes

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  • Batirai Manhando steps down from MD post
  • Thomas Lusiyano takes over effectively
  • Board Changes reflect ownership changes
  • Manhando had served for 7 years as MD

ZSE listed miner Bindura Nickel Corporation has announced a change in headship with the stepping down of the Managing Director Batirai Manhando and the appointment of a new MD.

In a  ZSE cautionary, BNC announced the appointment of Mr. Thomas Lusiyano who takes over the reins effective Monday the 9th of October 2020.

The board changes reflect ownership changes within BNC which were consummated this September. In November 2019, Mauritius-based, Sotic International acquired a majority stake in BNC to the tune of 926 775 700 shares from ASA Resources representing a 74.7% shareholding with the transfer of shares completed in September 2020 on the ZSE.

In a cautionary BNC Board Chair Mr M A Masunda gave details of the incoming MD:

“Mr. Lusiyano is a qualified Mining Engineer who has vast experience at senior level in different private and public sector companies where he served as Mine Manager, General Manager, Managing Director, and Chief Executive Officer respectively.”

The new MD is formerly  Mbada Diamonds Chief Executive and Shamva Gold MD. Both BNC and Shamva, once held by Metallon, have recently been bought by Sotic International

Mr. Manhando had been with BNC in various capacities for nearly 3 decades, serving as Managing Director for seven years to date. During his captaincy, he oversaw the recovery and growth of the firm; leading various transitions including the “Care and Maintenance” exercise which ran from 2008 to 2012 as well as a successful Rights offer and Private Placement process which was rounded up in 2012.

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