London, England — MININGREVIEW.COM — 30 May, 2008 – ASX and AIM-listed Albidon Limited – an Africa-focused exploration and development company with an emphasis on nickel – has announced that its chairman Richard Potts is to step down and hand over to a new chairman as the company starts production at its Zambian nickel project.
Reuters reports that in a statement released here Potts said: “It is now time for me to stand down and hand over to a new chairman, who will lead Albidon through the next phase of its growth and development.”
John Shaw, who joined the Albidon board in March, takes over as non-executive chairman.
Potts also revealed that the company had appointed the Royal Bank of Canada as its advisor to assist in the strategic review of the company’s growth options, the Reuters report added.. “As part of this process, confidential discussions have been held with a number of parties,” he said, but he did not provide any further details.
Albidon owns the Munali underground nickel mine in Zambia through its subsidiary, Albidon Zambia Ltd., and expects to produce 10 500 tpa of nickel metal from 2010. Ore production at the mine has already commenced.
The company – together with various joint venture partners – has projects in Botswana, Tunisia, Tanzania, Zambia and Malawi.