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Management Changes and Succession Planning at Octéa Mining Company in Sierra Leone

Management Changes and Succession Planning at Octéa Mining Company in Sierra Leone

On Tuesday, 5 February 2013, the Politico Newspaper in Sierra Leone published an article with the headline; “Koidu Holdings Sacks Bosses”.  The said article made several misleading claims and insinuations that completely misrepresent the current situation at Octéa Mining Company (OMC).

As most people familiar with our operations are aware, BSG Resources (BSGR), the controlling shareholder of OMC, made significant investment in the Company (OMC) in the past two years in order to increase its production capacity and maximize the resource potential of the Koidu Kimberlite Project (KKP).

With crucial milestones and targets of this expansion partially completed, BSGR initiated certain measures that it believes will preserve continuity and lead to greater operating efficiencies, so as to deliver greater long term sustainable benefits to all of OMC’s stakeholders.One of such measures is that all OMC Executive positions should now be held by individuals based in Sierra Leone and on the OMC operation sites.  It took this action to effect a proper transition from managing construction and project related matters, to those of day to day operational ones.

The incumbents of these positions have thus taken up advisory roles in their respective fields of expertise at the OMC Board, and will be responsible for guiding and advising the Board on all matters pertinent to the long term sustainable success of OMC.  BSGR believes that the end result will be one where the experience of the key executives who have taken OMC to where it is today, will enhance its ability to increase its operational and cost efficiency with greater depth of operational management on site.

The implementation of this plan commenced with the appointment of Mr. Jan Joubert to Chairman of Octéa Mining Limited.  This promotion is both in recognition of the contribution he has made in the past, as well as our belief that he is the most qualified and experienced individual to assume this responsibility.

Mr. Ibrahim Kamara, who is based in Sierra Leone and is in charge of Communications, will continue to perform his normal duties, reporting day to day to the General Manager, Mr. Christo Swanepoeland to Mr. Jan Joubert on matters related to government and stakeholder relations.

We trust this clears up any matters associated with media speculation associated with the management changes and succession planning at OMC.

Should you have any further queries, please contact Ibrahim Kamara on +232 76750984 or ikamara@octeagroup.com

Jan S.C Joubert
Christo Swanepoel
Ag General Manager


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