Mpinga bids to retain position as BNC chair despite Mwana exit

Mpinga bids to retain position as BNC chair despite Mwana exit

HARARE, August 5 (The Source) – Despite being fired from his post as chief executive of resources group, Mwana Africa, Kalaa Mpinga is bidding to retain his position as chairman of its 75 percent owned subsidiary, Bindura Nickel Corporation (BNC) at the company’s annual general meeting at the end of the month.

Mpinga was forced out of Mwana on June 10 following a series of clashes with majority Chinese shareholders and a group of activist minorities, a day after an extraordinary general meeting in London ousted his allies from the holding company’s board.

He, however, still controls 39,208,675 shares — 2.8 percent of Mwana’s issued share capital — directly and through Palanka and Katema Mukubayi Trusts. He also holds an additional 666,667 shares in Bindura Nickel Corporation (BNC) or 0.06 percent of its issued share capital.

BNC, which owns Trojan Nickel Mine in Bindura and Shangani Mine in south central Zimbabwe, is one of Mwana’s two key operating arms, along with Freda Rebecca Gold Mine, also in Bindura.

Mpinga, along with Oliver Chidawu and Ngoni Kudenga are up for re-election to the BNC’s board.  Kudenga, along with Herbert Mashanyare was also ejected from the Mwana at the fateful EGM.

BNC’s AGM, which will be held on August 27, is seeking a resolution to remove finance director Herman Jacobs, technical director Thomas Mashungupa and non-executive director James Arthur from the board.

It is not clear if the executive directors whose positions are on the line were among the several staff who were fired last month, along with several consultants and advisors in what the company said was a cost cutting measure.

The trio is set to be replaced by Johannes Lampen, Vanessa Yam, Boajin Zhao and Olivier Barbeau according to a notice to shareholders published by the company secretary Conrad Mukanganga on Wednesday.