Ex-Amplats boss joins African Consolidated Resources board

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By Zimbabwe Investor on April 24, 2013. No Comments

boardroom2Resource development company African Consolidated Resources has added former Amplats chief executive Neville Nicolau to its board as a non-executive director.

The AIM-listed company, which is focused on Zimbabwe and Zambia, said the signing is part of its strategy of becoming a mid-tier multi-commodity development and mining company.

As boss of Amplats, Nicolau was responsible for around 40% of the world’s newly mined platinum, while as chief operating officer of AngloGold Ashanti, he was in charge of the world’s third largest gold producer with annual production of 5.5mln ounces.

“Neville is a highly experienced and respected mining professional, who brings an enormous breadth of knowledge to the ACR team at this critical time in our evolution into a development and mining company,” said ACR’s chief executive Craig Hutton.

“His previous incarnations as chief executive officer of Anglo American Platinum and chief operating officer of AngloGold Ashanti give him an exceptional insight into the development of a resource company, and we hope to use this to leverage our position into a mid-tier multi-commodity production company.

“In addition to providing invaluable operational expertise, Neville’s strong network of contacts with industry leaders will also be highly significant as we look to expand ACR’s mineral footprint, acquiring additional quality assets through which to generate value for our shareholders.”

As part of his appointment, Nicolau has been awarded options over 2mln shares in ACR, exercisable at 4p each at any time until the end of March 2016, as long as he stays on the board until the end of 2014. – Proactive Investors