– UK, London – North River Resources plc (AIM:NRRP), the AIM quoted resource company focused on the Namib Lead-Zinc Mine in Namibia (“NLZM”), is pleased to provide details of changes to the Board and senior management reflecting its transition to the next stage of project development on the NLZM including the immediate appointment of two new non-executive directors, and an update on the project.
Non-Executive Director Brett Richards said: “Both of the two new directors for North River have very strong technical backgrounds, and distinguished corporate track records. They are leaders in the industry and will serve the Company well as it finalises the project development and enters the construction phase. As well, Keith and Ken will also be great advisers on potential new projects and acquisitions.
“James Beams is another extremely strong addition to the team, where his mining sector, general management, business development and financial experience will prove critical to the overall management of North River including financial discipline and delivering the longer term growth vision. In addition, James is supported by a strong group of experienced technical experts in their field. It is rare that a company of North River’s size continues to attract such very senior and experienced appointees. I believe this to be a reflection in the potential of the Company.
“On behalf of the Board of Directors of North River, we would like to thank Martin French for his significant contribution and earnest pursuit to see North River’s long term success, and the Board respects his decision to step down at this time as the Company enters its next stage of development. We wish him every success in the future.”
Board Changes and Appointment of Senior Management
North River has appointed Keith Marshall as a Non-Executive Director, with immediate effect. Keith is a mining engineer and has over 35 years’ experience in the mining industry and has worked for extended periods of time in every continent specialising in underground mining. Keith has developed a wealth of technical and managerial experience and has spent the last 15 years in senior mine leadership roles with Rio Tinto PLC as Managing Director of the Palabora Mining Company (copper) in South Africa, and President of the Oyu Tolgoi Project in Mongolia (copper/gold).
North River has also appointed Ken Sangster as a Non-Executive Director, with immediate effect. Ken was trained as a metallurgist and has 49 years’ experience in the mining industry in a number of highly successful project development / project management roles ranging in project size from US$20M to US$600M. He previously worked in numerous senior roles for Rio Tinto plc for over 15 years, as well having metallurgy focused project development roles for Anglo American PLC, Consolidated Gold Fields, Outokumpu Metals and Resources, TVX Gold and Ivernia plc.
Both Keith and Ken are extremely experienced and respected mining executives and it is testament to the robustness of the NLZM, and the long term vision for North River, that they have agreed to join the Board. As North River transitions from study phase to a construction phase, Keith and Ken’s technical, operational and construction experience will serve the Company well.
Additionally, Martin French has resigned as the Managing Director of North River and as an Executive Director. Martin has served North River as Managing Director for over two years and in this short time has done an outstanding job in successfully turning the Company around and taking it through its Definitive Feasibility Study (“DFS”), in very challenging circumstances. The Board is extremely grateful for his dedication and service. He has decided to step aside so the Company can bring in more technical and operational expertise as it enters its next phase, and will be assisting in the transition.
Accordingly, the Board is also pleased to announce that James Beams has been appointed as Managing Director with immediate effect (but not a director of the Company). James joined North River two months ago on a contract basis to assist on the project, and previously spent 14 years with Anglo American plc, where he was the Chief Financial Officer for the Copper division for the last 5 years, having previously served in several senior management positions within Anglo American. Prior to his time at Anglo American, he held senior finance roles at Minorco and Commercial Union. The Board is delighted that someone of the calibre of James has agreed to accept this role.
In addition, Andrew (“Andy”) Little has been appointed as Project Director, for the NLZM project, reporting directing to the Managing Director, James Beams. Andy is a graduate HNC Mechanical Engineer from the Bell College of Technology (Scotland), and is a Fellow of the Institute Of Mining, Minerals & Materials (UK) and a Registered Professional Engineer with the European Engineering Council. Andy has over thirty years’ experience in Project Development, Field Engineering, Construction Management, Project Engineering, and Design Management, predominantly in the base metals sector. He has previous held senior project and operating roles with FLUOR (at Oyu Tolgoi); Kazakhmys Project LLC, Sino Mining and Freeport McMoRan. As well, Andy has been an independent consultant on project construction roles with: Caijiaying Zinc/Gold Mine in China; Wardrop Engineering; AngloGold Ashanti; and Griffin Mining. His experiences from all perspectives of the industry in construction and commissioning are well suited to delivering the Namib project on time and on budget.
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