IGE: New board proposed for IGE Nordic AB in preparation for Toronto listing application
IGE Resources AB (OSE: IGE) today announced nominations to the Board of Directors of its subsidiary IGE Nordic AB. The proposed board members all hold strong track records from the mining and metals industries.
The new board is expected to be confirmed by an extra-ordinary general meeting of IGE Nordic shareholders scheduled for March 3rd 2011.
The new board will be comprised of Mr Øyvind Hushovd as independent Chairman of the Board, joined by independent directors Mr. Ted Mayers, Mr. Jeffery Snow, and Mr. Melvyn Williams. In addition to the independent directors, IGE Resources CEO Tomas Fellbom, IGE Resources board member Olle Johansson, and IGE Nordic CEO Fredric Bratt are also nominated as board members.
As previously announced, IGE Nordic is preparing for an initial public offering (the ”IPO”) and concurrent listing on the Toronto Stock Exchange. IGE Nordic AB will be restructured and renamed Nickel Mountain Resources AB, with the Rönnbäcken Nickel Project as its sole mineral asset.
About the nominees:
Øyvind Hushovd. From 1996 to 2002 Mr. Hushovd was President and Chief Executive Officer of Falconbridge Limited, where prior to becoming CEO, he held several executive positions from 1974 to 1996 including Executive Vice President and Chief Financial Officer. Mr Hushovd has significant experience in the mining and resources’ industry and has served on the boards of a number of well known mining companies, including Cameco Corporation, Gabriel Resources Ltd., Inmet Mining Corporation, Ivanhoe Nickel and Platinum Ltd., LionOre Mining International Ltd., Nyrstar NV, and Western Oil Sands Inc.
Tomas Fellbom. Mr. Fellbom is currently the Chief Executive Officer of IGE Resources. During his career, he has worked at the Swedish Trade Council as Vice President and Head of the Southern Europe, Africa and the Middle East regions, and was the founder and Chief Executive Officer of Spray Networks in France. Mr. Fellbom has a Master of Business Administration degree from the Stockholm School of Economics
Olle Johansson. Mr. Johansson has 25 years of mining industry experience, in the marketing and strategic trading of metals, and commodity risk management. He is co-founder of Rockstream Capital LLP, a money management company with an investment focus in metals. Prior to this, he held a number of executive positions in Falconbridge Limited including President of Falconbridge Europe SA, Brussels, Director of Commodity Risk Management, and Vice President of Marketing and Sales. Mr. Johansson is currently a director on the board of IGE Resources.
Ted Mayers. Mr. Mayers has over 25 years experience in financial management, with particular expertise in the mining sector and a focus on multinational finance and accounting, corporate governance, investor relations and public company administration. He is a Chartered Accountant, and has held a number of senior financial positions with publicly listed mining companies, most recently as Chief Financial Officer of Lundin Mining Corporation. Prior to this, he spent 10 years as Chief Financial Officer for LionOre Mining International Ltd. He has served on the boards of a number of mining companies including Mantra Resources Limited, LionOre Mining International Ltd., GBS Gold International Inc., and Zaruma Resources Inc.
Jeffery Snow. Mr. Snow is currently Senior Vice President, General Counsel and Corporate Secretary at Iamgold Corporation. Mr. Snow has spent his entire career in the mining industry and has been involved in virtually all aspects of mining law including, acquisitions, mergers, divestitures, options and joint ventures, as well as environmental and class action litigation. During his 25-year tenure with Noranda/Falconbridge, he held a variety of positions culminating in his appointment as Senior Vice President and General Counsel. Following his career at Noranda/Falconbridge, Mr. Snow worked a number of years as Managing Director at McMillan LLP's Mining Group, providing strategic and hands-on mining law advice to clients of the firm.
Melvyn Williams. Mr. Williams is the CFO and Senior Vice President, Corporate Development for Brigus Gold Corporation, a gold mining and exploration company. He is a Chartered Certified Accountant, and has over 30 years international finance experience, particularly in the natural resource industry. Since 1994, Mr. Williams has held a number of senior financial positions with gold mining companies, including Vice President Finance at Lac Minerals Ltd. in North America, Financial Director at Star Mining Corporation, and in the period 1997-2003, he was the Chief Financial Officer for TVX Gold Inc. Mr. Williams serves on the board of Andina Minerals Inc.
Fredric Bratt. Mr. Bratt has held the position of Chief Executive Officer with IGE Nordic since August 2007. He has more than 20 years of international and commercial experience from the mining and metals industry (mainly nickel, copper, cobalt, lead, zinc, precious and platinum group metals). Mr. Bratt worked for over eight years with Falconbridge International in Brussels, initially as Manager Raw Materials and later as Director Raw Materials.
For additional information, please contact:
Tomas Fellbom
CEO, IGE Resources AB
Phone: +46 8 402 28 00 / Mobile: +46 73 322 57 86
E-mail: tomas.fellbom@ige.se
Fredric Bratt
CEO, IGE Nordic AB
Phone: +46 8 402 28 00 / Mobile: +46 762 35 32 60
E-mail: fredric.bratt@igenordic.se
Thomas Carlsson
CFO, IGE Resources AB
Tel: +46 8 402 28 05 / +46 70 552 26 22
E-mail: thomas.carlsson@ige.se
IGE Resources AB (publ) is a Scandinavian company mainly focusing on diamonds exploration and production in Southern Africa. IGE’s portfolio also includes one of Scandinavia’s largest nickel projects and gold exploration projects in Kenya. IGE is headquartered in Stockholm and its shares are listed on the Oslo Stock Exchange (ticker: IGE). Please refer to www.ige.se for more detailed information.