VANCOUVER, June 4, 2012 /CNW/ - Capstone Mining Corp. ("Capstone") (TSX:
CS) today announced that Mr. Kalidas Madhavpeddi has been appointed to
Capstone's board of directors, effective June 1, 2012.
Mr. Madhavpeddi is the President of Azteca Consulting LLC, an investment
and advisory firm and the CEO of Forex Investment Group, an acquisition
group for a Hong Kong private equity firm. He was previously Overseas
CEO for China Molybdenum Inc. and prior to that he spent over 20 years
in senior executive roles at Phelps Dodge Corp., which was the world's
largest publicly traded copper company with 14,000 employees and
operations in 14 countries prior to its acquisition by Freeport-McMoRan
in 2007. His roles at Phelps Dodge included Senior Vice President of
Business Development, President of Phelps Dodge Wire and Cable, Senior
Vice President of Phelps Dodge Sales Company and various technical and
engineering positions. He has worked in the Americas, Australia, Asia,
Africa and the Middle East evaluating copper, gold and various
specialty metals projects.
Kalidas currently serves as Director, Technical and EHS Chair on the
board of NovaGold Resources; Director and Chair of Compensation
Committee, Namibia Rare Earths. He holds an M.S., Industrial Management
and Engineering from the University of Iowa, and a B.S., Civil
Engineering from the Indian Institute of Technology in Madras, India
and completed the advanced management program at Harvard Business
"We welcome Kalidas to Capstone's board," said Darren Pylot, President
and CEO of Capstone. "His technical expertise and significant
executive experience with one of the world's largest copper producers
will expand the capability of our board and complement the existing
skills of our directors as we more than triple our copper production to
a projected 300 million pounds per year by 2016."
About Capstone Mining Corp.
Capstone Mining Corp. is a Canadian base metals mining company with two
producing copper mines, the Cozamin copper-silver-zinc-lead mine
located in Zacatecas State, Mexico and the Minto copper-gold-silver
mine in Yukon, Canada. In addition, Capstone has two development
projects, the large scale 70% owned Santo Domingo copper-iron-gold
project in Chile in partnership with Korea Resources Corporation and
the 100% owned Kutcho copper-zinc-gold-silver project in British
Columbia, as well as exploration at properties in Australia, Canada,
Chile and Mexico. Using its cash flow and strong balance sheet as a
springboard, Capstone aims to grow organically through continued
mineral resource and reserve expansions and through acquisitions in
politically stable, mining-friendly regions. Additional information is
available at www.capstonemining.com.
This document may contain "forward-looking information" within the
meaning of Canadian securities legislation and "forward-looking
statements" within the meaning of the United States Private Securities
Litigation Reform Act of 1995 (collectively, "forward-looking
statements"). These forward-looking statements are made as of the date
of this document and Capstone does not intend, and does not assume any
obligation, to update these forward-looking statements, except as
required under applicable securities legislation. By their very nature
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Capstone to be materially different from
any future results, performance or achievements expressed or implied by
the forward-looking statements.
SOURCE Capstone Mining Corp.
For further information:
Cindy Burnett, VP, Investor Relations