· Board Appointment: ZBFH
· Announcement to shareholders: BNC
· Production Report: Tharisa
Harare - Board Appointment: ZBFH
The Board of Directors of ZB Financial Holdings Limited announced the appointment of Luxon Zembe as Chairman of ZB Financial Holdings Limited Board with effect from 1 August 2023. Luxon is a prominent and reputable business leader and economic analyst with over 30 years of corporate governance oversight, foresight, and insight experience across all sectors of the economy, including private, public, and NGO sectors. He has previously served as the Reserve Bank of Zimbabwe Board Member, CBZ Holdings Limited Group Chairman, Standard Chartered BankHead of Human Capital Development and Change Management across the African region.
Announcement to shareholders: BNC
Bindura Nickel Corporation held an Annual General Meeting on Thursday, 28 September 2023. The Company secretary announced that all resolutions raised at the AGM were approved, including the re-election of Directors who retired by rotation.
Production Report: Tharisa
Tharisa Private Limited, a platinum group metals (PGMs) and chrome co-producer, announced its production results for Q4 and financial year ended 30 September 2023. The Company produced a total of 1,580.1kt of Chrome, from 1 582.7kt in the full year 2022. The fourth quarter production closed at 413.4kt, against 378.8kt in 2022. Meanwhile, PGM production for the year at 144.7koz was 19% down from 179.2kt in 2022, with Q4 production closing at 30.7koz, against 37koz in 2022. The Company recorded a strong increase of 27.5% in reef mining volumes quarter on quarter to 1,158.9kt, from 908.8kt in 2022. However, there was a significant decline of 21.5% in PGM price, quarter-on-quarter, to US$1,331/oz from US$1,695/oz in 2022. The Company said the continued weakening of PGM prices and the macro-economy has resulted in a prudent and strategic decision to extend the Karo Platinum Project timeline for commissioning by 12-months to June 2025, with the opportunity to accelerate the timeline as markets become more favourable.
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