Ivanhoe Mines announces appointments of Rio Tinto executives
Mr Robert Friedland executive chairman and CEO of Ivanhoe Mines announced that Mr Andrew Harding and Ms Kay Priestly senior executives of Rio Tinto’s copper division have been appointed to the Ivanhoe Mines Board of Directors.
Rio Tinto’s nomination of Mr Harding and Ms Priestly increases to six the number of Rio Tinto appointees presently on the 14 member Ivanhoe Mines board. Rio Tinto is entitled to nominate a proportionate share of members to the Ivanhoe board, based on Rio Tinto’s shareholding in Ivanhoe under terms of the October 2006 private placement agreement between Rio Tinto and Ivanhoe Mines. Rio Tinto currently owns 42.1% interest in Ivanhoe Mines.Mr Harding CEO of Rio Tinto Copper previously was a director of Ivanhoe Mines from November 2009 to July 2010. Mr Harding joined Rio Tinto in 1992 initially worked for Hamersley Iron and progressed to hold operating roles within the energy, aluminum and iron ore product groups including at the Mount Thorley, Hunter Valley, Weipa, Mount Tom Price, Marandoo and Brockman mines. In 2007, he became global practice leader for mining within Rio Tinto’s technology & innovation group. Mr Harding was president and CEO of Kennecott Utah Copper until his appointment as CEO of Rio Tinto Copper in October 2009.
Ms Priestly is the CFO of Rio Tinto Copper and a director of Stone Energy Corporation. She joined Rio Tinto in 2006 and was VP of Finance and CFO of Kennecott Utah Copper from 2006 to 2008. Previously, Ms. Priestly spent 25 years with global professional services firm Arthur Andersen, where she provided tax and consulting services to global companies in the energy and mining sectors. She also was a managing partner of Andersen’s New Orleans office and a member of Andersen’s global executive team.
Mr Friedland thanked outgoing directors Mr Kjeld Thygesen and Mr John Macken who have relinquished their seats on the Ivanhoe board to create vacancies for Ms Priestly and Mr Harding.
Mr Macken president of Ivanhoe Mines will continue his leadership of the company’s management team responsible for bringing into production the world class Oyu Tolgoi copper and gold mine now under construction in Mongolia’s South Gobi region. Mr Macken also will continue as a board member of each of Ivanhoe’s three principal subsidiaries, SouthGobi Resources, Ivanhoe Australia and Altynalmas Gold.
Mr Friedland acknowledged that the 10 years of service provided to Ivanhoe Mines by Mr Thygesen MD of London based Lion Resource Advisors. Mr Kjeld joined us before we drilled the initial discovery hole at Oyu Tolgoi in the summer of 2001. I am deeply grateful to Mr Kjeld for the knowledge and experience that he brought to the board table and for the contributions he has made to the successes of our company. We all wish him further successes in the future.”
Rio Tinto’s nomination of Mr Harding and Ms Priestly increases to six the number of Rio Tinto appointees presently on the 14 member Ivanhoe Mines board. Rio Tinto is entitled to nominate a proportionate share of members to the Ivanhoe board, based on Rio Tinto’s shareholding in Ivanhoe under terms of the October 2006 private placement agreement between Rio Tinto and Ivanhoe Mines. Rio Tinto currently owns 42.1% interest in Ivanhoe Mines.Mr Harding CEO of Rio Tinto Copper previously was a director of Ivanhoe Mines from November 2009 to July 2010. Mr Harding joined Rio Tinto in 1992 initially worked for Hamersley Iron and progressed to hold operating roles within the energy, aluminum and iron ore product groups including at the Mount Thorley, Hunter Valley, Weipa, Mount Tom Price, Marandoo and Brockman mines. In 2007, he became global practice leader for mining within Rio Tinto’s technology & innovation group. Mr Harding was president and CEO of Kennecott Utah Copper until his appointment as CEO of Rio Tinto Copper in October 2009.
Ms Priestly is the CFO of Rio Tinto Copper and a director of Stone Energy Corporation. She joined Rio Tinto in 2006 and was VP of Finance and CFO of Kennecott Utah Copper from 2006 to 2008. Previously, Ms. Priestly spent 25 years with global professional services firm Arthur Andersen, where she provided tax and consulting services to global companies in the energy and mining sectors. She also was a managing partner of Andersen’s New Orleans office and a member of Andersen’s global executive team.
Mr Friedland thanked outgoing directors Mr Kjeld Thygesen and Mr John Macken who have relinquished their seats on the Ivanhoe board to create vacancies for Ms Priestly and Mr Harding.
Mr Macken president of Ivanhoe Mines will continue his leadership of the company’s management team responsible for bringing into production the world class Oyu Tolgoi copper and gold mine now under construction in Mongolia’s South Gobi region. Mr Macken also will continue as a board member of each of Ivanhoe’s three principal subsidiaries, SouthGobi Resources, Ivanhoe Australia and Altynalmas Gold.
Mr Friedland acknowledged that the 10 years of service provided to Ivanhoe Mines by Mr Thygesen MD of London based Lion Resource Advisors. Mr Kjeld joined us before we drilled the initial discovery hole at Oyu Tolgoi in the summer of 2001. I am deeply grateful to Mr Kjeld for the knowledge and experience that he brought to the board table and for the contributions he has made to the successes of our company. We all wish him further successes in the future.”
Comments
Post a Comment