KEFI Minerals reshuffle the board to head into gold production
The gold exploration and development company KEFI Minerals has announced an organisational restructure from August 2016, as part of the Company’s transition towards gold production.
KEFI, with projects in the Kingdom of Saudi Arabia and the Federal Democratic Republic of Ethiopia, will appoint Mr Mark Wellesley-Wood, experienced African mining operator, onthe Board as Non-Executive Director.
He will also serve as Chairman of the newly-created Technical Review Committee and Professor Ian Plimer will serve as Chairman of the newly-created Exploration Review Committee. The existing roles of Deputy Chairman and Senior Independent Director will pass from Professor Plimer to Mr Mark Wellesley-Wood as of January 2017.
The Board of Directors’ will establish its two new committees to independently review technical and exploration matters during the Company’s planned rapid expansion. This will allow Mr Jeff Rayner to step down from the Board and to focus on a more free-ranging role to identify value adding opportunities for KEFI’s next stage of development. Mr Rayner will also continue to advise and mentor the exploration team, which remains under Group Exploration Manager, Dr Fabio Granitzio.
These organisational changes represent big steps towards the company’s move into gold production.
Mr Harry Anagnostaras-Adams, Executive Chairman, said: “The planned changes to the Board of Directors announced today reflect our transition from exploration-only to emerging production as well as exploration,”
“KEFI is fortunate to have such a depth expertise from individuals adjusting their roles to suit the changing needs of the Company. We look forward to welcoming to the Board Mr Mark Wellesley-Wood, who has deep experience in African mining operations as well as mining finance in the City.”
KEFI has already installed strong development, community, finance and exploration teams and will next assemble the production operations team. The principal project contractors are market leaders Ausdrill/African Mining Services and Lycopodium.
People Moves: Peter Cunningham appointed Rio Tinto CFO
Rio Tinto has appointed Peter Cunningham as Chief Financial Officer (CFO) with immediate effect. Peter, who has been Interim Chief Financial Officer since 1 January 2021, will also join the Rio Tinto Board as an executive director at the same time.
Peter Cunningham appointed Rio Tinto CFO
Peter Cunningham was previously Group Controller and has held a number of senior financial and non-financial leadership positions across Rio Tinto in Australia and the UK. In a career spanning 28 years with Rio Tinto, he has held roles including Global Head of Health, Safety, Environment & Communities; Head of Energy and Climate Strategy; and Head of Investor Relations.
Prior to joining Rio Tinto, Peter qualified as a chartered accountant.
Rio Tinto CEO Jakob Stausholm commented: “I am delighted to confirm Peter in the role and, having worked closely with him for a number of years, I know he is the ideal person to be our Chief Financial Officer. His detailed knowledge of the company and of the financial and non-financial drivers of our industry will be invaluable as we continue to strengthen Rio Tinto.”
Rio Tinto Chairman Simon Thompson added: "I look forward to Peter joining the Rio Tinto Board and know from experience that his deep understanding of Rio Tinto and commitment to disciplined capital allocation will serve shareholders well and enrich our Board discussions.”
Rio Tinto aiming for net zero by 2050
Rio Tinto is aiming to reach net zero emissions across its operations by 2050. Across the company, it is targeting a 15% reduction in absolute emissions and a 30% reduction in emissions intensity by 2030, from a 2018 baseline.
Aluminium is found in everything from cars to phones. But one of the challenges of producing this essential material responsibly is finding ways to decarbonise the process.
Part of the reason is creating alumina – the main ingredient in aluminium – takes a lot of energy, which in turn creates greenhouse gas emissions. New technologies will be essential to helping reduce emissions, but many haven’t been proven. And some not yet even discovered. Rio Tinto is partnering with the Australian Renewable Energy Agency (ARENA)to develop hydrogen energy options and make a positive step towards these goals.