South Africa's top gold miner names Nel new CEO amid copper pivot
Updates throughout
JOHANNESBURG, Nov 14 (Reuters) -Harmony Gold HARJ.J, South Africa's biggest gold producer by volume, said on Thursday it had appointed Beyers Nel as chief executive officer to take over from Peter Steenkamp, who is retiring.
Nel, a mining engineer who has been with the Johannesburg-based gold producer since 2003, will start in his new role from Jan. 1 2025. Nel has been Harmony chief operating officer since Jan. 2023.
He takes over as Harmony is planning to advance new copper projects in Australia and Papua New Guinea. Harmony is among the few remaining South African gold producers squeezing profits from ageing, costly and some of the world's deepest gold mines.
The company said Nel will be deputized by Floyd Masemula, adding both will lead the miner in its "next exciting growth phase", Patrice Motsepe, the Harmony chairman said.
Harmony is seeking to advance its Walfi Golpu gold-copper joint venture in Papua New Guinea, which it owns with Newmont Corp, as well its Eva copper project in Australia.
The producer is among South African miners including Gold Fields and AngloGold that have shifted focus away from their home country amid declining mineral reserves in South Africa and as profits are squeezed by the high cost of producing bullion.
Reporting by Nelson Banya and Felix Njini
Editing by Tomasz Janowski, Alexandra Hudson
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