Phosa joins Braemore as chairman

Robert Laing

Robert Laing

ANC treasurer-general Mathews Phosa was appointed chairman of JSE-listed independent platinum beneficiator Braemore Resources yesterday.

Phosa, who is the former premier of Mpumalanga, is also chairman of JSE-listed information technology group Enterprise Outsource Holdings and currently sits on five boards.

Phosa's other directorships are at JSE-listed Value Logistics, Alt-X listed Alliance Data Corporation, and Du Toit Smuts & Mathews Phosa Attorneys.

"The transformation of the South African mining sector and the business development opportunities created by legislative changes have led to exciting prospects for established players and previously disadvantaged South Africans," Phosa said of his appointment.

The politician-turned-businessman has halved the number of boards he sits on in the past few months. His directorships over the past five years add up to more than 30 companies besides educational institutions.

The company said he would bring a wealth of boardroom experience and play a leading role in facilitating the black economic empowerment partnership which it is currently negotiating in terms of its South African platinum group metals (PGM) footprint.

Yesterday's announcement from Braemore coincided with the commissioning of an enlarged demonstration PGM smelter, built in partnership with state-owned research group Mintek.