S Africa’s Thungela selects De Beers executive Madondo as CEO

Thungela Resources, a South African thermal coal exporter, has named De Beers executive Moses Madondo as its new CEO, effective August 1, 2025.

Madondo will succeed July Ndlovu, who is retiring after reaching the company’s mandatory retirement age of 60.  

Ndlovu has been at the helm of Thungela since its spin-off from Anglo American in 2021. He previously led the Anglo coal division.

His departure coincides with challenges faced by South African coal producers, including Thungela, Exxaro Resources, and Glencore.

These companies are grappling with a failing rail network that is significantly impacting coal exports.

Madondo, currently the CEO of De Beers’ Managed Operations in South Africa and Canada, was selected through a comprehensive selection process.

His appointment comes as Thungela expands its operations in Australia to mitigate production volume losses in South Africa caused by rail capacity constraints.  

South Africa’s state-owned rail and port operator, Transnet, is struggling to meet the logistical needs of the coal industry due to equipment shortages, cable theft, and infrastructure vandalism.

These issues are further complicating the export landscape for South African coal producers.  

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