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Anglo not near finding Pt boss Posted: Thu, 22 Nov 2007 [miningmx.com] -- JOHNSON MATTHEY, the British precious metals refining company and research house, remarked last week that South Africa’s platinum expansion projects would be slower than expected to produce metal, partly owing to the dearth of skills. That extends from skilled artisans to the executive level itself. According to Johnson Matthey principal analyst Alison Cowley there’s just so much choice for skilled engineers – and not just in mining. Preparations for the 2010 soccer world cup in South Africa mean civil engineering companies and the like are also competing for skills. “There’s no reason to suppose there’ll be many spare managers,” says Cowley. “They’re all working and will move for better salaries.” Therefore, you can only imagine the trouble Anglo Platinum is having in finding a replacement for Ralph Havenstein. He quite sensationally quit the company in August following what was rumoured to be a difference of opinion with controlling shareholder Anglo American, managed by Cynthia Carroll. Their argument turned on how to tackle mine safety following 12 fatalities at its Rustenburg mine alone in the first half of the company’s financial year. It was a bad result and inspired Carroll to shut entire shafts throughout the group. Havenstein quit presumably because he took the view of some mining analysts who believe accidents are a fact of deep level mining, albeit odious. “In our opinion it may be naïve to believe that a quantum change in mine safety can be achieved over the short term,” said Steve Shepherd, an analyst at JPMorgan in a note dated 29 October. Nick von Schirnding, head of investor and corporate affairs at Anglo American in London, says a permanent replacement for Havenstein could take another three to six months. “We’re undertaking a global search for candidates,” says Von Schirnding. “We’d like someone with deep level underground experience and who knows about the mining environment in SA. It’s a challenging position. We’re looking.” Anglo Platinum also recently lost the skills of mining veteran Robin Mills, who has retired. Pieter Louw, formerly head of Anglo Chile, has been drafted in to replace Mills, while the current CEO’s job is being filled jointly by Anglo Platinum chief financial officer Norman Mbazima and projects director Duncan Wanblad. A mining analyst in Johannesburg says Anglo American could probably tread water with regard to a new CEO because the group’s platinum subsidiary just needed to run its mines properly. “There’s no strategic or tactical nous required,” he says. Click Here to subscribe to our daily newsletter
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