Chinese shareholder appointed Mwana interim chairman

HARARE – AIM-listed Africa-focused resources group, Mwana Africa Plc (Mwana), has appointed Yat Hoi Ning as its interim chairman.

Ning, who takes over from Stuart Morris who retired last week Friday, will – with immediate effect – fulfil this role until a new chairman has been appointed.

Ning joined the Mwana Board in June 2012 and he has more than 20 years’ experience in the trading, investing and managing of non-ferrous and precious metals businesses.

He is the founder of a number of mining companies including Congo International Mining Corporation SPRL, African PGM Processing SPRL and Fareast Nickel Mining Corporation

Mwana chief executive Kalaa Mpinga said during his time as a director of the company, Ning was instrumental in the Mwana’s operational progress through his wealth of knowledge, experience and advice.

“These qualities, along with his deep understanding of the company and the jurisdictions in which we operate will greatly assist Mwana in delivering maximum value from these assets during a particularly challenging time for the company,” he said.

Meanwhile, China International Mining Group Corporation (CIMGC) – a substantial shareholder in Mwana – and Ning have settled all claims with respect to their petition issued in the Companies Court on December 08, 2014 against the firm.

In addition to the withdrawal of the petition against Johan Botha and Morris, two former directors of the company, as detailed in the announcement on June 05, 2015, CIMGC and Ning have now agreed to withdraw also their petition against the company as part of the settlement.

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