Iron-ore mining company Kumba Iron Ore last month announced the appointment of Terence Goodlace to its board of directors as chairperson with effect from June 23, 2021.
As reported by Mining Weekly Online last month, Goodlace has considerable mining experience and has served on the board for the last four years as an independent nonexecutive director. He succeeded Dr Mandla Gantsho who retired following the company’s annual general meeting (AGM) on May 14, 2021.
Kumba Iron Ore CEO Themba Mkhwanazi said: “On behalf of the board and the management team, we congratulate Goodlace on his appointment as chairperson of the board.
“Goodlace has exceptional mining, corporate governance and commercial experience. As a widely respected leader in the South African mining industry, his demonstrable commitment to health, safety, operational excellence and innovation adds to the quality of our board discussions. The board and management team look forward to his leadership as chairperson and drawing further on his knowledge and insights.”
He added that Goodlace was appointed to the board in March 2017 and has served as the lead independent director. He also serves as chairperson of the Strategy and Investment Committee and as a member of the Social, Ethics and Transformation Committee, Human Resources and Remuneration Committee, Audit Committee and the Nominations and Governance Committee.
Further, he has stepped down as a member of the Audit Committee and as lead independent director with effect from June 23, 2021.
Mkhwanazi highlighted that Goodlace’s mining career started in 1977 and has spanned more than 40 years. He spent the majority of his career at Gengold (which merged with Gold Fields South Africa to become Gold Fields in 1998) where he progressed through the ranks to become the CEO in 2008.
He was appointed as CEO of base metals mining group Metorex in 2009. In 2012, he joined platinum and platinum group metals company Impala Platinum as CEO where he served on the board of directors for more than six years, two of which were as an independent nonexecutive director.
Mkhwanazi pointed out that Goodlace has extensive experience in leading underground and openpit mining operations in Africa, South America and Australia.
He currently serves as an independent nonexecutive director on the boards of Gold Fields, tin mining company AfriTin Mining and is the chairperson of Australian public company Southern Palladium.
“I am delighted to be appointed as chairperson of Kumba Iron Ore as the company continues its focus on unlocking its full potential. As Africa’s largest iron-ore producer, Kumba Iron Ore is uniquely positioned to continue producing premium products for its global customers while delivering sustainable value for all its stakeholders.
“I look forward to continuing to work with the board and the management team, led by [Mkhwanazi] as we work on further advancing Kumba Iron Ore’s strategic and operational objectives,” Goodlace said.
Meanwhile,as reported in May, Mkhwanazi was elected as Minerals Council South Africa VP at the employers organisation’s AGM. Anglo American board chairperson, Minerals Council Women in Mining Leadership Forum chairperson and former Minerals Council VP Nolitha Fakude was appointed as the first women president in the council’s 131-year history, while Northam Platinum CEO Paul Dunne and Harmony Gold CEO Peter Steenkamp join Mkhwanazi as VPs.
At the time, Minerals Council CEO Roger Baxter said: “On behalf of the Minerals Council and its members, we welcome [Fakude] in her new role [. . .], and our new office bearers, who are long-serving board members, [Dunne], [Mkhwanazi] and [Steenkamp]. It is a watershed occasion to have our first woman President and is testament to [Fakude’s] fortitude and leadership capability. I am certain that she will leave an indelible mark on the industry and a material leadership contribution in the years ahead.”