Sibanye Gold has appointed James Wellsted as senior vice President‚ corporate affairs with effect from January 1‚ 2013.
Wellsted‚ 43‚ covered the South African diversified mining sector in his role as a mining analyst at JP Morgan for the past one and a half years.
Prior to this‚ he was the executive head of investor and media relations at Mvelaphanda Resources for seven years‚ until its unbundling in 2011‚ Sibanye said on Tuesday.
From 1998 to 2004‚ Wellsted was a top-rated analyst at JP Morgan‚ covering the SA and African gold mining companies and contributed to JP Morgan’s supply and demand and gold price forecasts.
He holds a Bachelor of Science (Honours) in Geology from the University of Witwatersrand.
Commenting on the appointment‚ Neal Fronemann‚ Sibanye Gold’s CEO said “James’ background as a gold and general mining analyst at JP Morgan together with his investor relations experience and relationships in the investment community‚ will make him a valuable addition to Sibanye’s executive team”.
Sibanye Gold‚ formerly known as GFI Mining South Africa Proprietary Limited (GFIMSA)‚ is currently a wholly-owned subsidiary of Gold Fields‚ which holds the KDC and Beatrix gold mines as well as various service companies in SA.
Sibanye Gold will be listed as a separate and independent company on the JSE and the New York Stock Exchange in February 2013.
Sibanye Gold shares will then be distributed to existing Gold Fields shareholders.
Based on the results for the 12 month period ended December 2011 Sibanye Gold’s gold production was 1.4 million ounces making it one of SA’s largest domestic gold producers. - I-Net Bridge