Southern Palladium has announced the appointment legal expert, Lindi Nkosi-Thomas, as a non-executive director and the resignation of Geoff Hiller from the board of the company.
The appointment of Nkosi-Thomas is with effect from June 10. The practising lawyer has vast expertise in the legal sector and has served in advisory roles to state-owned companies and the government.
She also has corporate experience, chairing Miracle Upon Miracle Investments (MUM), a private company that owns the rights to the Bengwenyama platinum project through a joint ownership structure with Southern Palladium.
Following her appointment to the board of Southern Palladium, Geoff Hiller will step down from the role of non-executive director, the company said.
Southern Palladium said Hiller remained invested in Southern Palladium and will provide leadership advice and support to the project as it shifts from exploration to development.
“Her (Nkosi-Thomas) appointment marks a significant addition to the Board at an important juncture, as Southern Palladium progresses towards project development at the world-class Bengwenyama PGM project,” said Roger Baxter, chairman of Southern Palladium.
“Her career background and current status as a prominent lawyer in South Africa offers a specialist skills set that is complementary to the board’s existing strengths.”
The transition of the company to mine development will require direct and ongoing engagement with investors, key stakeholders and policymakers.
These were areas that the South African lawyer was “well suited to add value” at board level for Southern Palladium.
JSE listed Southern Palladium believes the global PGM market will remain under supplied over the next three years as companies in the industry, especially those in South Africa, restructure their operations.
With the global platinum market set to remain under supplied, mining analysts say there is likely to be support for PGM prices for the remainder of this year. According to the World Platinum Investment Council, South Africa’s platinum supply will fall by 2% this year.
BUSINESS REPORT