The company said Benning considered it appropriate to step down now that two new shareholders were coming on board with their own vision of the business.
Phillipe Lalieu, ZYL's commercial director, and Jan Britz, ZYL SA's chief operations officer, will collectively take over the chief executive officer's duties until someone is appointed to the role.
The anthracite project developer is pressing ahead with its Kangwane and Mbila projects after settling legal disputes with the Mbila project vendors and making changes to project ownership.
This has received further impetus from a recapitalisation, which will add about $13 million to its coffers.
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