Former Bindura Nickel Corporation (BNC) MD David Murangari (pictured) has been appointed to the position of non-executive chairman of London Stock Exchange mining junior ASA Resources Group Plc.
Murangari, a veteran in the mining industry, was deputy chairman and non-executive director of BNC at the time of his appointment.
His appointment is widely viewed as an attempt by the Chinese shareholder, China International Mining Group Corporation (CIMGC), to distance itself from the group in the wake of allegations officials helped themselves to US$4,3 million.
ASA has removed several executives such as Yat Hoi Ning from the position of chief executive in the aftermath of the fraud.
Just this week, ASA removed Yim Chiu Kwan from the position of chairman of BNC. This is seen as an attempt to exorcise the ghost of CIMGC’s frontman and former chief executive Ning after the fraud scandal.
Corporate lawyer Muchadeyi Masunda, a long-serving member of the BNC board, was appointed non-executive chairman.
Masunda is an attorney with extensive experience in business, law, corporate governance and alternative dispute resolution. He has served as chairman, patron, trustee, president and/or director of a number of corporate, professional, educational, charitable and sports organisations nationally and internationally for almost 40 years.
Batirai Manhando continues as MD, the company said. Conrad Mukanganga, who until his retrenchment in January 2017 was the company secretary, is reinstated in the same position. He also now assumes additional responsibilities at the ASA level as assistant group company secretary.