South African Coal Giant Thungela Names Moses Madondo as Incoming CEO

Thungela Resources, one of South Africa’s largest coal mining companies, has announced the appointment of Moses Madondo, the current head of De Beers’ Managed Operations, as its next Chief Executive Officer. Madondo will succeed July Ndlovu, who is set to retire in July 2025 upon reaching the company’s retirement age of 60.

In a statement released on Tuesday, Thungela informed shareholders of the planned leadership transition. The company praised Ndlovu for his “exceptional leadership, extensive mining experience, and invaluable guidance,” which have been instrumental in driving the company’s growth and success.

Following a rigorous selection process, Thungela’s board identified Madondo as the ideal candidate to assume the role of CEO. His appointment as CEO-designate will take effect on August 1, 2025, ensuring a seamless transition as Ndlovu continues to lead the company until his retirement.

Madondo currently serves as CEO of De Beers Group Managed Operations, overseeing mining activities in Canada and South Africa. With over 25 years of experience in the mining industry, he has held several high-level positions, including roles as Engineering Manager, Process Manager, General Manager, and Senior Vice President. His career began at AngloGold in 1998, and he has since established himself as a seasoned leader in the sector.

A mechanical engineer by profession, Madondo’s academic qualifications include an Executive MBA, a Postgraduate Diploma in Management Practice, and a Bachelor of Science in Mechanical Engineering. He has also contributed to the industry as a board member of the Minerals Council of South Africa and Rand Refinery, along with serving on multiple divisional boards.

“The board welcomes Moses and looks forward to working with him,” Thungela said, emphasizing his “strong operational and technical expertise.” The company highlighted his proven track record in leading underground mining operations and achieving remarkable safety performance across his portfolio.

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

As Thungela prepares for this leadership change, the company is confident that Madondo’s experience and vision will build on Ndlovu’s legacy and drive the company toward continued success in the evolving mining landscape.

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