African Minerals CEO Alan Watling resigns
African Minerals Limited announces that Alan Watling, Chief Executive Officer (“CEO”) of the Company, has notified the Board of his intention to retire and today resigned from the Board and as CEO. The successful commencement of operations at the Tonkolili project in December 2011 marked completion of the 14 month development from a greenfield project into a fully integrated mine, rail and port operation, which was overseen by Mr Watling. Mr Watling will be available to support the Company as required to effect a handover of responsibilities.
- Alan Watling
The Board would like to thank Mr Watling for his considerable contribution to the Company over the last three years. A search process has been initiated for a replacement CEO to continue the next phase of the Tonkolili mine development. The Company’s Executive Chairman will assume Mr Watling’s responsibilities until a replacement has been appointed.
A team from SNC Lavalin has been appointed to oversee the completion of the remaining elements of the Phase 1 project, which is planned to ramp up to a 20Mtpa capacity by year end, and to assist in the transition from construction to full scale operations.
Executive Chairman, Frank Timis, commented:
“I havea great relationship withAlanandhave valued hisefforts in achieving the major milestone of producing the first iron ore exports from Sierra Leone in more than a generation.
“On behalf of the entire Board I would like to express my gratitude for his advice and guidance as well as for his broad contribution as part of the Company’s leadership team. I understand and support his desire to retire after his success at African Minerals and wish him the very best for the long term future. During the transition we all look forward to his continued valuable contribution.”
Alan Watling commented:
“What we have achieved in three short years has been an exciting and fulfilling experience. The Company is now making large scale commitments which relate to the next stage of expansion and entering a new chapter. It is therefore appropriate for me to pass the torch for Phase 2 and beyond to a new CEO. The strong operating team that we have brought together remains intact and will deliver the run rate of 20Mtpa by year end’
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