Impala appoints Mandla Gantsho as chair

Johannesburg - Impala Platinum [JSE:IMP], the world’s second-biggest producer of platinum, says Khotso Mokhele plans to step down as chairperson and Mandla Gantsho will succeed him.

Gantsho, who is currently chairperson of Sasol [JSE:SOL], will take over on October 21, the company said on Wednesday. Mokhele was appointed to the position in 2009.

Gantsho takes over as platinum producers contend with a 25% drop in the price of the metal that’s used to make jewellery and devices that reduce harmful emissions from vehicles.

The valuations of the world’s largest platinum miners have also suffered from the fallout of a five-month pay strike that crippled operations in South Africa, the world’s biggest producer, last year.

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Impala declined 0.2% to R58.50 early on Wednesday.

Gantsho, who has been an independent non-executive director at the platinum producer since August 2010, is also chairperson of Ithala Development Finance and chief executive officer of Africa Rising Capital,  Impala said.