South African Mining Expert, Moses Madondo, To Lead Billion-dollar Thermal Coal Exporter

Moses Madondo, a seasoned South African mining expert, is set to become the Chief Executive Officer CEO-designate of Thungela Resources Limited, a billion-dollar thermal coal exporter, starting August 1, 2025. Madondo, who currently serves as CEO of De Beers Group Managed Operations, brings over 25 years of experience in the mining industry to his new role.

Madondo's appointment follows the successful leadership of July Ndlovu, who has guided Thungela since its demerger from Anglo American Plc in 2021. Ndlovu, who will retire in July 2025 at the company's mandated retirement age of 60, has been instrumental in shaping Thungela's growth and positioning the company for long-term success.

Under Ndlovu's guidance, Thungela's assets grew by 18.54 percent in the first half of 2024, reaching R46.02 billion 2.58 billion by June 30, up from R38.83 billion 2.18 billion at the end of 2023. His leadership has laid a strong foundation for the companys future, ensuring it is well-positioned for the next phase of its journey.

In December 2024, Thungela reached an agreement to acquire the remaining 15 percent interest in the Ensham Business in Australia for 29.9 million, subject to regulatory approval. This acquisition will give Thungela full ownership of the Ensham coal mine and associated assets, reinforcing presence in key export markets and ensuring the ongoing stability of its operations.

Madondos appointment follows a thorough selection process, highlighting his distinguished career, which includes senior roles at AngloGold Ashanti, such as Senior Vice President for South African Operations and Senior Vice President for Innovation and Technology. Throughout his career, he has been committed to operational excellence and safety, with a deep understanding of the technical and strategic challenges faced by the mining industry.