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Terence Goodlace new Implats CEO

Johannesburg - Impala Platinum Holdings [JSE:IMP], the world's second largest platinum producer, said on Tuesday it was appointing Terence Goodlace as chief executive officer to take over from David Brown, who will step down at the end of June.

The company had the second-worst performing shares among South Africa's benchmark Top 40 - (Tradeable) [JSE:J200] index in 2011, shedding 28% during the year as the platinum price struggled.

It is facing labour unrest at its Rustenburg operations, which has been costing it an estimated 3 000 ounces a day in lost production since about two weeks ago.

Like other South African platinum producers, it is also facing increased safety stoppages from government regulators tasked with reducing mining deaths.

The company's Zimbabwe operations is in talks with the government there over disputed royalties and a drive to force foreign miners to surrender majority stakes to local blacks.

Goodlace was the chief executive of Metrorex, a copper and cobalt producer with operations in Zambia and Democratic Republic of Congo, which delisted from Johannesburg's bourse after it was taken over by China's Jinchuan Group Limited.

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Rand - Dollar
18.92
-0.1%
Rand - Pound
23.91
-0.0%
Rand - Euro
20.45
+0.1%
Rand - Aus dollar
12.35
-0.0%
Rand - Yen
0.13
-0.1%
Platinum
911.00
+1.6%
Palladium
1,008.15
+0.6%
Gold
2,222.89
+1.3%
Silver
24.90
+1.0%
Brent Crude
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-0.2%
Top 40
68,346
+1.0%
All Share
74,536
+0.9%
Resource 10
57,251
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Industrial 25
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+0.6%
Financial 15
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