May 17, 2020

The CEO of Petra Diamonds has announced his resignation

Johan Dippenaar
CEO
Canada
Petra Diamonds
Sophie Chapman
2 min
Johan Dippenaar to resign as CEO
Petra Diamonds, the UK-based diamond miner, has confirmed that Johan Dippenaar will be stepping down from his position as Chief Executive Officer of the...

Petra Diamonds, the UK-based diamond miner, has confirmed that Johan Dippenaar will be stepping down from his position as Chief Executive Officer of the company.

“As part of the Nomination Committee Succession plan, a process to identify a successor for the CEO position has now commenced,” Petra Diamonds wrote in its Preliminary Results Announcement.

“In line with the Company's development from a phase of intensive capital expenditure and expansion to a focus on steady state operations, Johan Dippenaar will be stepping down from the role when an appointment has been made.

Dippenaar has worked for the firm as the CEO for 13 years, since the 2005 merger with Crown Diamonds.

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The company’s annual production has grown under Dippenaar’s years at the firm – from around 175,000 carats per annum in 2016 to 4.6mn carats within the recent fiscal year.

“As Petra now approaches the final stage of its expansion plans, it is positioned to reap the benefits and, in line with the Nomination Committee's Succession Plan, a successor for the CEO position will be appointed in due course,” remarked Adonis Pouroulis, Chairman of Petra Diamonds.

“Johan will continue in the role of CEO until this time and will work closely with the Board to ensure an efficient handover.”

“I would like to take this opportunity to express the Board's sincere gratitude for all that he has done for Petra.

“We look forward to updating the market with new non-executive appointments in October.”

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Jun 29, 2021

Vale invests $150mn to extend life of Manitoba operations

Vale
Nickel
Manitoba
battery metals
2 min
Vale’s $150mn investment in operations at Thompson, Manitoba will extend mine life by 10 years

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.

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