After six years at the helm of Impala Platinum (Implats), Terence Goodlace will be stepping down.
In a SENS statement Goodlace said “I am very pleased to have served this great company for more than half a decade and depart with a sense of pride for leaving behind a great team of executives and a strong board to lead Implats into the future.”
Dr Mandla Gantsho, the chairman of the board said: "It has been a great pleasure working with Terence over the past six years, especially since becoming Chairman last year. I would like to thank him for his outstanding contribution to Implats, at a difficult time for the platinum mining sector and the mining industry generally. I wish Terence much success in the future. The board is pleased that he has given us a long notice period of his intention to step down and appreciate his commitment to continue to support the company and the board on the important 'lower for longer commodity prices' response initiatives, and in the leadership succession and handover."
The platinum producer says it is embarking on a "structured search process to fill the vacancy".
The news comes as two workers were missing after a shaft collapsed at its Rustenburg mine in South Africa.
Operations at the shaft were suspended when the shaft collapsed on Tuesday, trapping a total of nine workers underground before seven were rescued, Implats' investor relations officer Alice Lourens told Reuters.
She said the company - the world's second-biggest platinum producer - was trying to find the missing workers.
It was not immediately clear how much output the company had lost following the closure of the shaft, she said.
"It's difficult to quantify, it depends on an investigation ... It's to early to say," said Lourens.
The cause of the collapse at the mine had not yet been established, the company said.
Four employees were killed in January at one of Implats' Rustenburg shafts following a fire.