BINDURA Nickel Corporation (BNC) managing director Batirai Manhando will leave the resources firm at the end of this month, seven years into the role that saw him manage shareholder wrangles and oversee a complex care and maintenance operation. BY SHAME MAKOSHORI The former Chamber of Mines of Zimbabwe (CoMZ) president was replaced by mining engineer Thomas Lusiyano yesterday. However, a statement from BNC said he would stay on for a three-week transitional phase until November 30. “Mr Batirai Manhando steps down as managing director to pursue personal interests,” said BNC chairperson Muchadeyi Masunda. “Mr Manhando has been with the company in various capacities for close to 30 years, the last seven of which he served as the managing director. During his stint, he actively participated in overseeing the recovery and growth of the company and played a pivotal leadership role through various transitions, including care and maintenance (2008 to 2012) as well as the rights offer and private placement process which was concluded in September 2012.” Masunda said Manhando would be leaving behind a stable and profitable operation. “The company has been stable and profitable since then. Mr Thomas Lusiyano takes over as managing director with effect from November 9, 2020. Mr Lusiyano is a qualified mining engineer who has vast experience at senior level in different private and public sector companies where he saved as mine manager, general manager, managing director and chief executive,” he said. Manhando’s impressive record at BNC came under the spotlight when shareholder wrangles intensified during his tenure, triggering a 2016 forensic audit that exposed irregularities linked to Chinese executives at Freda Rebecca Gold Mine and BNC. The audit exposed shocking evidence of asset stripping and possible looting of millions of dollars, but left Manhando untainted. Reports at the time said the mining executive also survived a boardroom coup. Soon after calming down tempers at BNC, Manhando was elected president of the CoMZ in 2017, deputised by current president Elizabeth Nerwande-Chibanda as the first vice-president. At CoMZ, his biggest challenge was to cool off the turbulences after the US$2 billion industry haemorrhaged under serious power shortages. He worked round the clock to convince government to prioritise the mining industry in the provision of power, while also keeping authorities under close watch at the tail end of an asset expropriation programme under the late former President Robert Mugabe. During the year ended March 30, 2020, BNC’s turnover declined to US$52,4 million, 1% lower than a US$54 million turnover during the same period last year. “This was in sync with the decrease in sales tonnage referred to above. Cost of sales decreased from US$40,3 million last year to US$37,7 million in the year under review, mainly due to lower production,” the firm said. “However, operating profit decreased by 86% to US$2,8 million, compared to the prior year’s achievement of US$20,2 million. “This profit erosion was mainly