De Beers exec to take over Thungela’s top job

One of South Africa’s largest coal miners has selected the head of De Beers’ Managed Operations, Moses Madondo, to succeed its CEO, July Ndlovu.

Thungela informed shareholders on Tuesday morning that its current CEO, Ndlovu, will reach the retirement age of 60 years in July 2025.

Therefore, in accordance with the company’s retirement policy, Ndlovu is scheduled to retire from Thungela in 2025. 

“July’s exceptional leadership, his extensive mining experience and guidance have contributed to the growth and success of the company,” Thungela said.

The company also announced that, following a comprehensive selection process, it landed on Moses Madondo to be the incoming CEO designate, effective 1 August 2025.

Madondo will succeed Ndlovu, who will continue in his role until he steps down to facilitate a seamless transition.

Madondo is currently the CEO of De Beers Group Managed Operations and brings over 25 years of mining experience to the role in various senior leadership positions.

De Beers Managed Operations encompasses the group’s mining operations in Canada and South Africa.

He has also served on several divisional boards and as a board member of the Minerals Council of South Africa and Rand Refinery. 

He holds an Executive MBA, a Post Graduate Diploma in Management Practice, and a Bachelor of Science in Mechanical Engineering.

“The board welcomes and looks forward to working with Moses,” the company said, adding that he has demonstrated strong operational and technical skills.

A mechanical engineer by profession, Madondo has more than two decades of experience in the mining industry, having started at AngloGold in 1998.

He has held various senior and executive roles during this time, spanning Engineering Manager, Process Manager, General Manager and Senior Vice President. 

“Moses has demonstrable leadership experience and a proven track record of delivery, particularly in leading underground mining operations and for achieving impressive safety performance across the operations within his portfolio,” De Beers said.

“Moses brings extensive knowledge of the mining sector, an innate understanding of strategy and innovation, and outstanding operational leadership,” said former De Beers CEO Bruce Cleaver.