South Africa’s cabinet has approved the appointment of Percival Khoza as the new chief executive of the State-owned diamond company Alexkor.
He replaces Khetiwe Maseko-McClain, who left in September last year, and acting chief executive Berno Lategan.
Mining Weekly reported that Khoza, who was also appointed an ex-officio member of the board, would lead the struggling diamond company for the next five years.
Alexkor gave up 49 percent of its Alexander Bay operations in a pooling and sharing joint venture (PSJV) with the nearby Richtersveld community last April.
As a result the joint venture incurred a loss of R7.1-million ($817,000), while Alexander Bay residents’ nonpayment of rent and electricity amounted to R2.2-million ($253,000).
“We anticipate that the Alexkor Richtersveld Mining Company JV will continue to incur losses for at least the next three years, as we enter into a phase of exploration,” the company said last September.
“No meaningful exploration has been conducted at the Alexander Bay operations since pre-2003, owing to the land claim instituted by the Richtersveld community.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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