MC Mining acting CEO and CFO resigns, head-hunted by PPC

MC Mining has announced that Brenda Berlin will step down as acting Chief Executive Officer and Executive Director effective 15 February 2021. An executive search is in progress and the Company expects to appoint a permanent CEO within sufficient time to allow for an orderly handover.

Ms Berlin joined MC Mining in April 2018 serving as Executive Director and Chief Financial Officer and was subsequently appointed acting CEO in February 2020. She has played a leading role in securing the majority of the funds required to develop the Company’s flagship, fully permitted Makhado hard coking coal project (“Makhado Project”).

She has also successfully steered the Company through the turbulent period following the spread of the COVID-19 virus and subsequent lockdown. Brenda worked closely with both MC Mining’s chairman of the board and chairman of its audit committee on the Makhado Project development financing and her departure in February is not expected to impact on finalising the Phase 1 funding package.

Commenting today Bernard Pryor, MC Mining’s Chairman said: “On behalf of the Board I would like to thank Ms Berlin for her commitment and extensive contribution to the Company, particularly during her tenure as acting CEO. The COVID-19 pandemic has made the past year incredibly challenging and Ms Berlin has been instrumental in navigating the Company through these turbulent times and in securing the majority of the funds required for Phase 1 of the Makhado Project. I wish her well in her future endeavours.”

PPC MANAGEMENT DEVELOPMENTS

The Group CFO, Ms. Ronel van Dijk, has decided to step down with effect from 31 March 2021 to rebalance her other commitments. Ms. Brenda Berlin will join PPC as Group CFO Designate from 15 February 2021 to formally take over as Group CFO on 1 April 2021.

Ms. Berlin is currently CFO and acting CEO at MC Mining and will contribute a wealth of experience and knowledge to PPC’s Finance function. Prior to MC Mining, Ms. Berlin served as CFO of Impala Platinum Holdings for seven years.

To ensure a smooth handover, Ms. van Dijk has agreed to assist the Company with the upcoming year-end results and the audit process on a consultancy basis starting 1 April 2021.

During her time at PPC, Ms. van Dijk played a pivotal role in guiding the Company through one of its most difficult periods, which included negotiations with lenders to address the impact of COVID-19 lockdowns. She has also introduced various initiatives aimed at improving the Group’s reporting processes and internal controls.

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