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Ivanhoe Mines Executive Chairman Robert Friedland and Chief Executive Officer Lars-Eric Johansson today announced the appointment of Mark Farren as the company's Executive Vice President of Operations.
Mr. Farren will assume lead responsibilities for the various engineering and development activities now underway as Ivanhoe Mines continues to advance its three principal projects in Sub-Saharan Africa: the Platreef platinum-palladium-gold-nickel-copper discovery in South Africa, and the Kamoa copper discovery and Kipushi zinc-copper mine upgrading project in the Democratic Republic of Congo.
"Mark joins us at a pivotal time in the evolution of our principal projects, each of which is destined to establish itself as a significant mining operation in its own right," said Mr. Friedland.
"His 25 years of experience in building and managing mines in some of the world's major mineral fields dovetail admirably with our present and future requirements to support our company-building mission."
Mr. Farren, 48, previously completed a total of 22 years, assuming progressively senior responsibilities, in the South African operations of Johannesburg-based Anglo American Platinum (Amplats) - the world's leading primary producer of platinum-group metals. His career with Amplats culminated with his appointment in 2009 as the group's Head of Mining, when he was tasked to lead a strategic, company-wide restructuring. He also served as a general manager overseeing operations and implementing production enhancements at a number of Amplats' mining interests.
Mr. Farren will join Ivanhoe Mines next month after successfully leading the development, commissioning and operation of the expanded Tharisa Mine, on the Western Limb of South Africa's Bushveld Complex. Designed to process up to 4.8 million tonnes of ore per year, Tharisa is one of the world's largest producers of chrome concentrate, plus significant quantities of platinum-group metals. Since 2010, he has been Managing Director and Chief Executive Officer of Tharisa Minerals, a 74%-owned subsidiary of Cypress-based Tharisa PLC whose shares began trading on the Johannesburg Stock Exchange last month.
Mr. Johansson said that the management of engineering and development programs will be consolidated under Mr. Farren in Ivanhoe's operational headquarters in Johannesburg when his appointment takes effect on June 15.
"Mark has a great depth of experience both in mine development and operations that equips him to bring together the members of our development team and lead their work on our three current projects."
Mr. Farren holds a Master's Degree in Business Leadership from the University of South Africa and a National Higher Diploma in Mining Engineering from the former Technikon Witwatersrand.
About Ivanhoe Mines
Ivanhoe Mines, with offices in Canada, the United Kingdom and South Africa, is developing its three principal projects:
-- The Kamoa copper discovery in a previously unknown extension of the
Central African Copperbelt in the DRC's Katanga Province.
-- The Platreef discovery of platinum, palladium, nickel, copper, gold and
rhodium on the Northern Limb of the Bushveld Complex in South Africa.
-- The historic, high-grade Kipushi zinc-copper mine, also on the
Copperbelt in the DRC, which now is being drilled and upgraded following
an 18-year care-and-maintenance program that ended when Ivanhoe acquired
its majority interest in the mine in 2011.
Ivanhoe is evaluating other opportunities as part of its objective to become a broadly based, international mining company.
FORWARD-LOOKING STATEMENTS
Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the company's periodic filings with Canadian securities regulators. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should" and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Statements in this release that constitute forward-looking statements or information include, but are not limited to, statements regarding the expectation that each of Ivanhoe Mines' principal projects is destined to establish itself as a significant mining operation in its own right. All such forward-looking information and statements are based on certain assumptions and analyses made by Ivanhoe Mines' management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors that management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risk Factors" in the company's most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking information or statements.
Contacts:
Ivanhoe Mines Ltd. - Investors
Bill Trenaman
+1.604.331.9834
Ivanhoe Mines Ltd. - Media
North America: Bob Williamson
+1.604.512.4856
Ivanhoe Mines Ltd. - Media
South Africa: Jeremy Michaels
+27.11.088.4300
www.ivanhoemines.com