Anglo American appoints new General Counsel
Leading mining operators Anglo American announces the appointment of Richard Price as Group General Counsel and a member of Anglo American’s Group Management Committee, with effect 1 May 2017. Richard will be based in London and will report to Stephen Pearce, who will take up the role of Finance Director on 24 April 2017.
Richard Price will join Anglo American from the London office of international law firm Shearman & Sterling where he has been a senior corporate partner since 2003 and currently co-leads the firm’s global metals and mining practice. Prior to moving to London, Mr Price was based in Shearman & Sterling’s Singapore and Toronto offices.
Mark Cutifani, Chief Executive of Anglo American, said: “We look forward to welcoming Richard Price as Group General Counsel, a key role that provides both strategic and commercial insight throughout our decision-making processes, while also forming part of the risk management of Anglo American as a whole. He knows us and our industry well, given the legal advisory work he has led on a number of complex issues and transactions, including in South Africa. Richard will lead our global legal team following Ben Keisler’s decision to retire this year after serving
32 years with Anglo American. On behalf of the entire management team, I would like to thank Ben for his dedication, leadership and most importantly his sound judgement and we wish him a safe and happy retirement.”
Richard Price said of his appointment: “I am delighted to be joining Anglo American at this exciting time in its 100-year history. I have had the pleasure of working with Anglo American, including its current Group General Counsel Ben Keisler, for many years and have developed a great admiration for the company and its people.”
Who is Richard Price?
Mr Price has worked with Shearman & Sterling in Toronto, Canada in 1996, and in its Singapore office as head of its South East Asian and Indian capital markets practice in 1999.
Hi experience took him to London in 2003 as a senior corporate partner, with clients across the metals, mining, energy and financial services sectors, amongst others. He is currently co-head of the firm’s global mining and metals practice and has previously served as head of EMEA capital markets and co-head of the EMEA corporate practice. Richard has a Bachelor of Arts (Hons.) degree from Mount Allison University in Canada and a Bachelor of Laws degree from the University of Toronto.
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Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.