JSE-listed mining investment company Mantengu CEO and executive director Mike Miller has resigned from both positions effective February 28.

Mantengu says in a statement issued on February 20 that Miller took the decision to resign to allow him to spend more time with his family, particularly as Mantengu’s operational ramp-up demands increased time on site for executives.

He played an integral role in the strategic leadership of the company, having diligently fulfilled his duties with integrity, expertise and commitment, the company states.

Miller is succeeded by Magen Naidoo, who worked as deputy CEO and CFO, with effect from March 1. He brings to the position vast mining industry experience, including expertise on acquisitions and group strategy.

The board is confident in Naidoo’s ability to guide the company through the next phase of its growth journey.

In turn, Langton Mpofu will succeed Naidoo as CFO. He has extensive experience in managing regulatory compliance, financial reporting, risk management and providing strategic financial insights.

He joined Mantengu in 2024 as the group financial manager overseeing the group finance function, with due reporting to Naidoo.

The changes in executive leadership follow Mantengu having filed a complaint with the Directorate for Priority Crime Investigation (the Hawks) against JSE executives for alleged share price manipulation last year. Mantengu claims that the JSE ignored the company’s concerns and, rather, investigated Mantengu for alleged breaches of certain listing requirements.

Mantengu’s complaints were investigated by the Financial Sector Conduct Authority, which found no evidence of wrongdoing on the JSE’s part. However, Miller believed there was a syndicate colluding in moving Mantengu’s share price and that there had been various attempts on his life.

The JSE maintains that Mantengu’s claims against its executives and staff are false and without merit.

Mantengu’s projects include the Langpan chrome and platinum group metals project, as well as the Blue Ridge Platinum project in Limpopo. The company also acquired an iron plant in Phalaborwa last year.