JOHANNESBURG (miningweekly.com) – Syd Caddy has stepped down as CEO of platinum and chrome producer Bauba Platinum with immediate effect.

Nick van der Hoven, who currently holds the position of executive director of legal compliance and new business development, took over as CEO from May 31.

Caddy, who has resigned for personal reasons and who will continue to work for the company as a consultant, oversaw the successful transformation of Bauba from a platinum exploration company, the company said in a Stock Exchange News Service announcement.

The JSE-listed Bauba has the Moeijelik mine, where opencast chrome mining is generating cash for exploration in the company’s northern platinum cluster, where an initial Merensky reef borehole indicated three platinum-group elements as well as gold at grades of 6.15 g/t across a width of 3.90 m and a higher upper group two reef grade of 6.25 g/t across a width of 1.20 m.

Mining engineer Caddy, a former VP of the ASX- and JSE-listed Gold One, has held various positions in the gold- and uranium-mining industry, including that of GM of Black Mountain Minerals, Kloof gold mine and West Driefontein gold mine.

A fellow of the South African Institute of Mining and Metallurgy and the Australian Institute of Mining and Metallurgy, Caddy is also the past president of the Association of Mine Managers of South Africa.