London, UK – International Mining & Infrastructure Corporation plc (AIM: IMIC), the company focused on unlocking the value of African iron ore through infrastructure development and strategic investments in junior miners, is pleased to announce the appointment of Mr Liu Guoping as a Non-Executive Director of the Company with effect from 9 September 2013.
A graduate of Heilongjiang University in China, Mr Liu Guoping held a position of Senior Vice President of China Railway Materials Company Limited (“CRM”) between 1997 and 2011. CRM is a major Chinese state owned enterprise focused on providing integrated services in the railway industry and the largest steel trading enterprise in China, with whom IMIC’s strategic partner, AIOG, has signed an agreement focusing on Chinese off-take of African iron ore from AIOG sponsored projects. Prior to that, Mr Liu assisted in the development of CRM’s Kong Hong division as General Manager for two years.
Mr Liu Guoping recently held the role of Non-Executive Director at African Minerals Limited, a mineral exploration and development company with significant iron ore interests in Sierra Leone, West Africa, from July 2010 to July 2012, during which time he contributed to the development of that company’s financial strategy, facilitated the relationship with Shandong Iron and Steel group (SISG) and worked on creating closer ties between African Minerals and CRM.
Mr Liu was also involved in the iron ore industry while serving as Non-Executive Director of FerrAus Limited, a public company engaged in iron ore exploration and development in the East Pilbara region of Western Australia.
From 2012, Mr Liu has served as Chairman of Orix Group China, a Tokyo and New York Stock Exchange listed integrated financial services group, Orix Asia Limited, which is focused on the provision of a wide spectrum of financial services to corporate and individual customers.
In his new role as Non-Executive Director at IMIC, Mr Liu Guoping will be working to develop closer ties between IMIC/AIOG and CRM and to introduce potential Chinese partners to their African iron ore projects.
Haresh Kanabar, IMIC’s Chairman, said: “Mr Liu Guoping is a fantastic addition to the Board at IMIC and we are very pleased that he will be joining the team. His broad experience at CRM and at African Minerals and his strong strategic connections will prove invaluable in developing closer ties with Chinese corporations with a view to smoothly implementing the current agreements signed by IMIC and more sustainable collaboration and the reinforcement of partnership opportunities with the iron ore sector in West and Central Africa.”
About IMIC
International Mining Infrastructure Corporation plc (IMIC), in conjunction with its privately held strategic partner African Iron Ore Group (AIOG), is working to unlock value in the metals and mining industry in West and Central Africa by providing infrastructure solutions, for railways, deep-water ports, power and/or iron ore beneficiation, that will allow the region’s emerging iron ore projects to develop into globally significant export operations.
IMIC and AIOG are well positioned to partner African host countries in the delivery of infrastructure arrangements, and to assist with initiatives that best address the long-term aspirations of their governments and people.
China, as consumer of 70% of the world’s seaborne iron ore, is key to this opportunity. A best in breed alliance of Chinese construction and equipment groups and iron ore off-takers has been carefully assembled to provide funding and delivery of projects and onward sale of iron ore.
AIOG’s major infrastructure project, in partnership with IMIC, is the Simandou South iron ore project in the Republic of Guinea, where there is an agreement with the Guinean government to deliver a multi-purpose, multi-user infrastructure solution which ultimately could become the backbone of the country’s transport network.
IMIC also takes strategic stakes in junior miners with the intention of benefiting from the uplift in value once an infrastructure solution is initiated. IMIC’s first strategic investment was the purchase of a 3.9% stake in Afferro Mining Inc. (Afferro), followed by subsequent share purchases, increasing IMIC’s holding to 19.989%. In April 2013, IMIC announced it had made an approach to acquire the entire share capital of Afferro, whose most advanced asset, Nkout, and other projects are located in Cameroon. Afferro’s Board of Directors has recommended the acceptance of IMIC’s offer.
IMIC shares are traded on the London Stock Exchange’s AIM market under the ticker symbol IMIC.
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