ZUG, Switzerland, April 17, 2019 /CNW/ - Katanga Mining Limited
(TSX: KAT) ("Katanga" or the "Company") today announces the
resignation of Mr. Danny Callow as
Chief Executive Officer of the Company.
The board of directors has approved Mr. Jeff Gerard's appointment to the CEO position by
Glencore International AG ("Glencore"), effective May 2, 2019, pursuant to the management services
agreement between the Company and Glencore entered into in
January 2019.
Mr. Gerard will replace Mr. Callow, who has served Glencore's
African copper operations in various capacities for over 12 years,
most recently as CEO of Katanga. Mr. Callow played a key role in
developing Glencore's copper assets in the DRC, particularly in
connection with the Company's whole ore leach project. Mr. Callow
will resign as a director and officer effective May 2, 2019 and will assist Mr Gerard with the
transition of his responsibilities until then. Mr. Gerard will also
assume Mr. Callow's seat on the Company's board of directors.
Mr. Gerard has over 40 years of experience in the mineral
resources sector. He will join the Company on May 2, 2019 from
Glencore Coal, where he has been Chief Development Officer, based
in Sydney, since Glencore's 2013
merger with Xstrata plc. Prior thereto, Mr. Gerard served as
Xstrata Coal's Chief Operating Officer Americas from 2006 to 2007
(including a period of serving as Xstrata's nominee on the board of
directors of TSX-listed Erdene Resource Development Corp.) and
Chief Operating Officer South Africa from 2007 to 2010. In addition
to serving as the CEO of the Company Mr Gerard will serve as the
Head of Glencore's assets in the DRC and oversee the Glencore
Group's other operation in the DRC, Mutanda Mining.
Hugh Stoyell, Non-Executive
Chairman of the Company, commented: "We are pleased to welcome Jeff
as CEO and look forward to working with him to continue driving
Katanga's business and operations forward. We thank Danny for his
significant contribution to Katanga over the years, especially the
successful commissioning of the whole ore leach project, and wish
him the best in his future endeavours."
About Katanga Mining Limited
Katanga Mining
Limited operates a major mine complex in the Democratic Republic of Congo producing refined
copper and cobalt. The Company has the potential to become
Africa's largest copper producer
and the world's largest cobalt producer. Katanga is listed on the
Toronto Stock Exchange under the symbol KAT.
Forward Looking Statements
This press
release may contain forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates" or "does not anticipate", or "believes",
or describes a "goal", or variation of such words and phrases or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
All forward-looking statements reflect the Company's beliefs
and assumptions based on information available at the time the
statements were made. Actual results or events may differ from
those predicted in these forward-looking statements. All of the
Company's forward-looking statements are qualified by the
assumptions that are stated or inherent in such forward-looking
statements. Although the Company believes that these assumptions
are reasonable, these assumptions are not exhaustive of factors
that may affect any of the forward-looking statements.
Forward-looking statements involve known and unknown risks,
future events, conditions, uncertainties and other factors which
may cause the actual results, performance or achievements to be
materially different from any future results, prediction,
projection, forecast, performance or achievements expressed or
implied by the forward-looking statements. Although Katanga has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
The Company disclaims any intention or obligation to update
or revise any forward-looking statements whether as a result of new
information, future events, or otherwise, except in accordance with
applicable securities laws.
SOURCE Katanga Mining Limited