KAZ Minerals PLC Appointment of CFO and Independent NED (2942Q)
September 11 2017 - 2:01AM
UK Regulatory
TIDMKAZ
RNS Number : 2942Q
KAZ Minerals PLC
11 September 2017
KAZ MINERALS
PLC
6(TH) FLOOR
CARDINAL PLACE
100 VICTORIA
STREET
LONDON SW1E 5JL
Tel: +44 (0)
20 7901 7800
==================
11 September 2017
Appointment of Chief Financial Officer
and Independent Non-Executive Director
Further to the announcement on 27 April 2017 of Simon Heale's
retirement as Chairman, Oleg Novachuk's appointment as Chair,
Andrew Southam's appointment as Chief Executive Officer and Michael
Lynch-Bell's appointment as Deputy Chair, all effective from 1
January 2018, KAZ Minerals ("KAZ Minerals" or "the Group")
announces the appointment of a new Chief Financial Officer and an
Independent Non-Executive Director.
John Hadfield will join KAZ Minerals on 20 November 2017 and
will be appointed Chief Financial Officer on 1 January 2018. John
is currently Finance Director of the UK business of Intertek PLC.
Prior to his role at Intertek PLC, John spent over 14 years at BG
Group PLC ("BG") and Royal Dutch Shell PLC ("Shell") in a number of
UK and international finance roles including Financial Controller
of BG's $20 billion QGC liquified natural gas project in
Queensland, Australia and Vice President Finance for BG's
Exploration and Production assets in the UK and Norway. Following
the acquisition of BG by Shell, John was responsible for
restructuring the combined Exploration and Production finance teams
in Shell UK and Ireland. John began his career with
PricewaterhouseCoopers in London.
Alison Baker will be appointed as an Independent Non-Executive
Director, effective from 9 October 2017 and will be a member of the
Audit Committee. Alison has nearly 25 years' experience in the
provision of audit, capital markets and advisory services, having
led the UK and EMEA Oil & Gas practice at
PricewaterhouseCoopers and prior to that the Energy, Utilities and
Mining Assurance practice at Ernst & Young. Alison has
extensive emerging markets experience including in the energy and
mining sectors in Kazakhstan.
Following the new appointments announced today and the changes
to the Board announced on 27 April 2017, the Board will maintain a
majority of independent Directors in line with the requirements of
the UK Corporate Governance Code. There are no further details that
are required to be disclosed in respect of the appointment of
Alison Baker as a Director under LR9.6.13R of the Listing Rules of
the UK Listing Authority.
Oleg Novachuk, Chief Executive, said "I look forward to
welcoming John Hadfield and Alison Baker to their new roles at KAZ
Minerals as Chief Financial Officer and Independent Non-Executive
Director. Both John and Alison bring extensive experience to the
Group and will make an important contribution as we enter the next
stage of our development."
For further information, please contact:
KAZ Minerals
PLC
==================== ========================== =================
Investor Relations, Tel: +44 20 7901
Chris Bucknall London 7882
Financial Analyst, Tel: +44 20 7901
Anna Mallere London 7814
Corporate Communications, Tel: +7 727 244
Maksut Zhapabayev Almaty 03 53
==================== ========================== =================
Instinctif Partners
==================== ========================== =================
Tel: +44 20 7457
David Simonson 2020
==================== ========================== =================
REGISTERED OFFICE
6th Floor, Cardinal Place, 100 Victoria Street, London SW1E 5JL,
United Kingdom.
NOTES TO EDITORS
KAZ Minerals PLC ("KAZ Minerals" or "the Group") is a high
growth copper company focused on large scale, low cost, open pit
mining in Kazakhstan. It operates the Bozshakol and Aktogay open
pit copper mines in the Pavlodar and East regions of Kazakhstan,
three underground mines and associated concentrators in the East
Region of Kazakhstan and the Bozymchak copper-gold mine in
Kyrgyzstan. In 2016, total copper cathode equivalent output was 140
kt with by-products of 75 kt of zinc in concentrate, 120 koz of
gold bar equivalent and 3,103 koz of silver bar equivalent.
The Group's new operations at Bozshakol and Aktogay are
delivering one of the highest growth rates in the industry and
transforming KAZ Minerals into a company dominated by world class,
open pit copper mines.
Bozshakol is a first quartile asset on the global cost curve
with an annual ore processing capacity of 30 million tonnes and a
mine life of 40 years at a copper grade of 0.36%. The mine and
processing facilities will produce an average of 100 kt of copper
and 120 koz of gold in concentrate per year over the first 10 years
of operations.
Aktogay is a large scale, open pit mine similar to Bozshakol,
with a mine life of more than 50 years and average copper grades of
0.37% (oxide) and 0.33% (sulphide). Aktogay commenced production of
copper cathode from oxide ore in December 2015 and copper in
concentrate production from sulphide ore commenced in February
2017. The sulphide concentrator has an annual ore processing
capacity of 25 million tonnes. Aktogay is competitively positioned
on the global cost curve and will produce an average of 90 kt of
copper from sulphide ore and 20 kt of copper cathode from oxide ore
per year over the first 10 years of operations.
KAZ Minerals is listed on the London Stock Exchange, the
Kazakhstan Stock Exchange and the Hong Kong Stock Exchange and
employs around 13,000 people, principally in Kazakhstan.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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