ASA Re­source Group ap­points new di­rec­tor

Chronicle (Zimbabwe) - - Business Chronicle - Oliver Kazunga Se­nior Busi­ness Re­porter

ASA Re­source Group has appointed Mr David Mu­ran­gari as an in­de­pen­dent non-ex­ec­u­tive di­rec­tor with im­me­di­ate ef­fect.

In a state­ment, the group, for­merly Mwana Africa, said the ap­point­ment of Mr Mu­ran­gari is part of the Pan African re­source con­cern’s strat­egy to aug­ment its rep­u­ta­tion in Zim­babwe and to strengthen the board’s min­ing cre­den­tials.

“The Board of Asa Re­source Group plc is pleased to an­nounce the ap­point­ment of Mr David Mu­ran­gari as a new in­de­pen­dent non-ex­ec­u­tive di­rec­tor of Asa with im­me­di­ate ef­fect,” it said.

The group’s ex­ec­u­tive chair­man, Mr Yat Hoi Ning, was quoted as say­ing: “David is a highly ex­pe­ri­enced Zim­bab­wean ge­ol­o­gist who qual­i­fied in the United States of Amer­ica and is cur­rently chair­man of the Zim­babwe Min­ing De­vel­op­ment Cor­po­ra­tion, the state body that plans, co­or­di­nates and im­ple­ments min­ing de­vel­op­ment pro­jects on be­half of the gov­ern­ment.

“It’s re­spon­si­ble for prospect­ing, ex­plo­ration, min­ing and min­eral ben­e­fi­ci­a­tion pro­grammes.”

Mr Mu­ran­gari also serves as deputy chair­man of Bin­dura Nickel Cor­po­ra­tion, which is owned by Asa.

He also holds di­rec­tor­ship to the Zim­babwe Min­ing De­vel­op­ment Cor­po­ra­tion, Freda Re­becca Gold Mine as well as the State-owned, Min­ing Pro­mo­tion Cor­po­ra­tion.

Mr Mu­ran­gari has been in­flu­en­tial in the min­ing in­dus­try in Zim­babwe for many years and once served as the chief ex­ec­u­tive of­fi­cer of the Cham­ber of Mines of Zim­babwe.

The Asa board chair­man said Mr Mu­ran­gari is well con­nected at gov­ern­ment level and has ex­ten­sive cor­po­rate ex­pe­ri­ence as well as sit­ting on a num­ber of boards and pro­fes­sional bod­ies in Africa.

Against this back­ground, he said: “I’m con­fi­dent that our in­flu­ence is grow­ing steadily in the dif­fer­ent ju­ris­dic­tions we op­er­ate in and this should open up more op­por­tu­ni­ties for the group as it pur­sues its growth strat­egy.

“With this ap­point­ment, the pro­file of the nonex­ec­u­tive board is more in­de­pen­dently bal­anced than at any time in the past with ex­pe­ri­ence in min­ing, met­al­lurgy, au­dit­ing and in­vestor re­la­tions.”

Mr Ning said his or­gan­i­sa­tion’s strate­gic vi­sion is to be a fully in­te­grated pan-African com­mod­ity group, strength­en­ing each com­mod­ity group through ex­ploit­ing Asa Re­source’s wide port­fo­lio of min­ing in­ter­ests.

“We also con­tinue to en­gage with trusted part­ners in many re­gions to help us ex­ploit the true value of our as­sets”.

The process of seg­ment­ing as­sets at group level and in­te­grat­ing re­sources op­er­a­tionally is fun­da­men­tal to both our short and long-term strate­gies. — @okazunga.

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