Zimplats Holdings has appointed Dr Stanley Segula as chief executive officer from 1 November 2026, succeeding Alex Mhembere, who retires after 19 years at the head of the Zimbabwean platinum group metals (PGM) producer.
The ASX-listed company, a member of the Implats Group, said on 30 October that Mhembere's retirement arrangements had been concluded. He will step down as chief executive and executive director but remain chairman of Zimbabwe Platinum Mines (ZPM), the operating subsidiary that runs the group's mines and processing plants on the Great Dyke.
An internal succession
The board "records its sincere appreciation to Mr Mhembere for his distinguished service." – Zimplats Holdings
Segula is a long-standing member of the Zimplats executive team. According to the company, he joined the group in April 2008, became chief operating officer of ZPM in 2011 and has been ZPM's managing director since 2015. He has more than 30 years of mining leadership experience.
He holds a BSc (Honours) in mining engineering from the University of Zimbabwe, an MBA and a PhD in strategic management and leadership, as well as a mine manager's certificate of competency, and is a registered professional engineer.
Business Times reported that Segula, in a company statement, set out his priorities as being to "keep our people safe, strengthen operational performance and invest with discipline".
Mhembere's record
Mhembere joined Zimplats as chief executive on 1 October 2007, having previously been managing director of Mimosa Mining Company. Zimplats said his tenure included a US$1.8 billion investment programme, an upgrade of the Selous smelter that tripled smelting capacity, and the commissioning of a 35 MW solar plant, the first phase of a planned 185 MW renewable energy programme.
The board said it "records its sincere appreciation to Mr Mhembere for his distinguished service".
Where Segula takes over
Segula inherits a business in the middle of its expansion. In its quarterly report for the three months to 30 September 2026, Zimplats reported 164,129 ounces of 6E in concentrate, up 3% year on year, from 2,016 kt of ore milled at a head grade of 3.30 g/t. Operating cash costs were US$1,119 per 6E ounce, and the company recorded no lost-time injuries.
The new Mupani mine remains on track to reach 3.6 Mtpa by the 2029 financial year, with US$368m spent against a US$386m budget. The smelter expansion and sulphur dioxide abatement project has absorbed US$480m of its US$544m budget, and a 45 MW second solar phase is being commissioned, which will take solar capacity to 80 MW.
Why it matters
Zimplats sits at the centre of Zimbabwe's push to process more of its PGMs at home, a goal Business Times linked directly to Mhembere's tenure. Handing the top job to the executive who has run the mines day to day for a decade points to continuity on the smelter, Mupani and solar projects at a time of tight costs across the PGM sector.
Source: Zimplats Holdings ASX announcement, 30 October 2026; Zimplats quarterly activities report; Business Times (Zimbabwe).