TSX, ASX: AVM
Common shares outstanding 157.3 million
MONTREAL, April 4 /CNW Telbec/ - The board of directors (the "Board") of Anvil Mining Limited (TSX: AVM)
(ASX: AVM), ("Anvil" or the "Company") announced today that Darryll Castle, currently Chief Operating
Officer of Metorex Limited, has accepted the appointment as President
and Chief Executive Officer of Anvil, effective May 1, 2011.
Mr. Castle, 42, has extensive experience in the civil engineering,
mining and financial sectors with more than 15 years in senior
management positions with international organisations. He holds
Bachelor of Science (Civil) (UND-1990) and Bachelor of Commerce
(UNISA-1997) degrees as well as an MBA (UCT-1995) and is a Chartered
Mr. Castle began his career as a civil engineer working for Transnet in
South Africa. Upon completion of his MBA, he joined Ingwe Coal
(Billiton) where he worked in operations and on various strategic
projects. From 1998 to 2005 he was Mining and Resource Analyst and Fund
Manager with STANLIB Asset Management. Between 2005 and 2009 he was
Executive Director of Zungu Investment Company (ZICO), a privately
owned holding company which holds major investments in a number of
South African businesses.
Mr. Castle joined the Metorex Group in 2009 as part of a new management
team which developed a strategy to meet its liquidity crisis by
disposing of non-core assets and by reducing debt. Central to the new
strategy was the performance of core operations including Ruashi Mining
(Democratic Republic of Congo) ("DRC"), Chibuluma (Zambia), Sable (Zambia) and Kisenda (DRC). In September
2009, he was appointed Chief Operating Officer, accountable for all
aspects of operational performance of the Metorex mines.
Ruashi Mining is a copper and cobalt solvent extraction electro winning
("SX-EW") operation located in Katanga Province near Lubumbashi in the DRC and
within 30 kilometers of Anvil's Kinsevere Stage II project, a 60,000
tonnes per year SX-EW plant now nearing completion, with full
commissioning expected to commence during the second quarter of 2011.
In welcoming the appointment, the Chairman of the Anvil Board, John
Sabine, stated: "We believe we have found in Darryll, a Chief Executive
Officer who combines operating experience, analytical and financial
skills, as well as managerial and strategic talents. He has experience
in Africa and, in particular, in the DRC and will apply his talents to
the many aspects of developing and operating in the region as well as
to the expansion of our business both there and elsewhere."
Mr. Castle stated "I am delighted to be joining Anvil at a time that is
exciting for the copper industry and look forward to continuing to
increase the value of the Company's flagship Kinsevere high-grade
Mr. Sabine also paid tribute to Bill Turner, retiring President and
Chief Executive Officer, noting that "since 1996, Bill has worked
tirelessly to achieve the success that Anvil now enjoys. In the DRC,
he secured title to the Dikulushi Mine in January 1998 and, in the
intervening years, initiated the securing of a number of excellent
exploration properties, including Kinsevere. His leadership continued
through numerous challenges and the difficulties of mining in areas
where there is a lack of infrastructure and stability. Throughout his
tenure he has always kept a focus on improving the living conditions of
our Congolese hosts, on sustainability and on environmental issues,
making Anvil a leader in the mining industry. He has inspired us with
his tenacity, his strategic thinking and his fundamental humanity."
Bill has agreed to remain as an advisor to the Company to assist in the
management transition and to enable us to benefit from his considerable
expertise and experience.
Mr. Castle will be based in Johannesburg.
Anvil Mining Limited is a copper producer whose shares are traded on the
Toronto Stock Exchange (as Common Shares) and the Australian Securities
Exchange (as CDIs) under the symbol AVM.
SOURCE ANVIL MINING LIMITED
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