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Nyembezi-Heita becomes CEO of Ichorcoal in Germany

BERLIN, PRNewswire/ –The supervisory board of IchorCoal N.V., an internationally operating mineral resource company focused on South Africa, is nominating Nonkululeko Nyembezi-Heita and Andries Engelbrecht respectively as Chief Executive Officer and Chief Operating Officer of IchorCoal. In addition, Mr Rirhandzu Siweya is nominated as candidate for the supervisory board of IchorCoal, intending to appoint him as chairman. He is currently the Chief Executive Officer of Mbuyelo Group and the Chairman of Mbuyelo Coal (Pty) Ltd. Upon shareholder approval regarding the nomination of Rirhandzu Siweya as member of the supervisory board, Lars Windhorst, the current chairman, will step down but will remain an active supervisory board member and deputy chairman of the supervisory board. Nonkululeko Nyembezi-Heita has spent the last six years as the CEO of ArcelorMittal in South Africa and before that was the Chief Corporate Strategy Officer at the Vodacom Group, also in South Africa.

On 10 December 2013, Nonkululeko Nyembezi-Heita was appointed as the Independent Non-Executive Chairman of the Johannesburg Stock Exchange; she will start her role as the chairman in 2014. In addition, she has been an independent non-executive director of Old Mutual plc since 2012. Andries Engelbrecht has 20 years of experience in the mining industry and most recently was the Chief Operating Officer of Riversdale Mining Limited, responsible for all Africa-based projects. Before that Mr. Engelbrecht held the roles of General Manager and Engineering Manager at Zululand Anthracite Colliery. He has also held positions at Khutala Colliery (Ingwe Coal Corporation) BHP Billiton and Richards Bay Coal Terminal. IchorCoal is majority owned by Sapinda Holding B.V. and its subsidiaries. Following the purchase of IchorCoal shares from the Schernikau family, Sapinda now holds 65% of the issued share capital of IchorCoal. Mbuyelo Coal is a black-owned conglomerate focused on coal and minerals headquartered in Alberton, a suburb of Johannesburg, South Africa. The company is a spin-off of Mbuyelo Group and was founded in November 2011. IchorCoal N.V. is an internationally operating mineral resource company specialising in investments in coal resources as well as in other projects in the field of coal logistics and coal handling. The company is focused on the South African market and is planning to further grow and increase its investments in the South African coal mining industry.

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