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South Africa: Mamphela resigns from Goldfields

Posted on Wednesday, 13 February 2013 14:03

“Dr Ramphele has decided to retire as chair to further her socio-economic and political work,” spokesman Sven Lunsche said in statement.

Speculation has been mounting in recent weeks that Ramphele was planning to set up a new political party.

She has so far been tightlipped on when the party will be launched and is scheduled to brief the media on Monday on her plans.

The anti-apartheid activist has resigned from most of her private sector directorships and will relinquish all other remaining private sector directorships and positions to focus on these activities.

In January, Ramphele said she would herself announce if she was going to start a political party.

“I have always been clear in articulating my views on matters of public importance, and will speak on my own behalf about any decisions I might take about my future engagements,” she said in a statement at the time.

The 65-year-old former World Bank executive is a respected academic and was a partner of Black Consciousness leader Steve Biko.

She said she was proud of her tenure at Gold Fields and the company had grown during her time there.

“I am pleased that during my tenure at Gold Fields significant progress has been made in entrenching the sustainability of the company’s operations worldwide,” Ramphela said.

“[I] also believe that the separate listing and unbundling of the company’s KDC and Beatrix mines into Sibanye Gold would provide the South African operations with the dedicated and focused management as well as full control over their cash flows to extend their life of mine in a sustainable manner to the benefit of investors, employees and communities.”

Ramphele was appointed to the board of Gold Fields in July 2010 and chaired the board from November 2010. She also served on various board committees during her tenure.

Goldfields is one of the world’s largest gold mining companies and is listed on both the Johannesburg Stock Exchange and the New York Stock Exchange.

The company’s headquarters are in Johannesburg and operates mines in South Africa and Australia.

“I would like to thank my fellow directors and the Gold Fields management team, led by CEO Nick Holland, for their support over the past two-and-a-half years. It’s been a privilege working with them,” she said.

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