London, England — 02 May 2012 – African Minerals Limited has announced that CEO Alan Watling has notified the Board of his intention to retire, and has resigned from the Board and as CEO. No reason was given for Watling’s departure.
This follows the successful commencement of operations at the Tonkolili iron ore project in Sierra Leone in December 2011, marking completion of the 14-month development from a greenfield project into a fully integrated mine, rail and port operation, which was overseen by Watling. He will be available to support the company as required to complete a handover of responsibilities, the company statement added.
Watling, an industry veteran, joined African Minerals from Australian iron ore miner Fortescue in 2009. He will be replaced on an interim basis by executive chairman Frank Timis, while a permanent replacement is sought.
A team from engineering firm SNC Lavalin has been appointed to oversee the completion of the remaining element of the transition from construction to full-scale operations producing at a rate of 20Mtpa by the year-end, the statement said.
“The company is now making large scale commitments which relate to the next stage of expansion and entering a new chapter. It is therefore appropriate for me to pass the torch for Phase 2 and beyond to a new CEO. The strong operating team that we have brought together remains intact and will deliver the run rate of 20Mtpa by year end,” said Watling.
Source: African Minerals. For further information, click here.