Shares outstanding: 113,338,000
TSX: TCM, TCM.WT
TORONTO, Dec. 10 /CNW/ - Thompson Creek Metals Company Inc., one of the
world's largest publicly traded, pure molybdenum producers, today announced
changes to its Board of Directors effective January 1, 2008, as follows:
- Kevin Loughrey, who is currently President and Chief Executive
Officer, will become Chairman of the Board of Directors and will
continue as the Chief Executive Officer of the Company.
- Ian McDonald, who is currently Executive Chairman, will step down
from his executive role but remain on the Board of Directors as
- Timothy Haddon, who is currently serving as an independent director,
will become Lead Director.
- Thomas J. O'Neil, an experienced mining executive, will join the
Board of Directors.
"Ian McDonald, who has repeatedly demonstrated his skill in enhancing
shareholder value, has made a tremendous contribution to the success of the
Company and we are very pleased he is staying on the Board of Directors in an
important capacity," said Mr. Loughrey.
"We are also happy that Timothy Haddon, an experienced mining executive,
has agreed to devote more time to our Company in his new role as Lead
Director, and that we have been able to obtain the services of someone as
accomplished and experienced in the mining sector as Thomas O'Neil."
Mr. O'Neil, a resident of Arizona, is currently a Director of Fording
Inc. and has served in senior executive positions at major mining companies
including Cleveland-Cliffs Inc., where he was President and Chief Operating
Officer (2000-2003), Executive Vice President Operations (1994-1999) and
Senior Vice President Technical (1991-1994).
During the period 1981 to 1985, he was Manager, New Business Development,
Amoco Metals Company, and from 1985 to 1991, he served in senior positions
with Cyprus Minerals Company, including: Copperstone Project Manager, Cyprus
Gold; Vice President, Cyprus Gold Australia; Vice President and General
Manager, Cyprus Sierrita; and Vice President, Engineering and Development,
Mr. O'Neil obtained a Ph.D. in Mining Engineering with a minor in finance
from the University of Arizona in 1972 and subsequently was a Professor and
Head of the university's Department of Mining and Geological Engineering.
While on the faculty of the University of Arizona, he consulted for a wide
variety of clients including industry, U.S. Government and Indian tribes on
taxation, royalties and mine evaluation.
About Thompson Creek Metals Company Inc.
Thompson Creek Metals Company Inc. (formerly Blue Pearl Mining Ltd.) is
one of the largest publicly traded, pure molybdenum producers in the world.
The Company owns the Thompson Creek open-pit molybdenum mine and mill in
Idaho, a 75% share of the Endako open-pit mine, mill and roasting facility in
northern British Columbia, and a metallurgical roasting facility in Langeloth,
Pennsylvania. Thompson Creek is also developing the Davidson high-grade
underground molybdenum project near Smithers, B.C. The Company has more than
700 employees. Its head office is in Toronto, Ontario. It also has executive
offices in Denver, Colorado (including sales and marketing) and Vancouver,
British Columbia. More information is available at
Cautionary Note Regarding Forward-Looking Statements
This news release contains "forward-looking information" within the
meaning of the United States Private Securities Litigation Reform Act of 1995
and applicable Canadian securities legislation which may include, but is not
limited to, statements with respect to the timing and amount of estimated
future production. Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is expected",
"budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or
"believes" or variations (including negative variations) of such words and
phrases, or state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Thompson
Creek and/or its subsidiaries to be materially different from any future
results, performance or achievements expressed or implied by the
forward-looking statements. Such factors include those factors discussed in
the section entitled "Risk Factors" in Thompson Creek's annual information
form for the year ended December 31, 2006 and dated March 26, 2007 which is
available on SEDAR at www.sedar.com and is incorporated in its Registration
Statement on Form 40-F filed with the United States Securities and Exchange
Commission on October 30, 2007 which is available at www.sec.gov. Although
Thompson Creek has attempted to identify important factors that could cause
actual actions, events or results to differ materially from those described in
forward-looking statements, there may be other factors that cause actions,
events or results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date of this
news release and Thompson Creek does not undertake to update any such
forward-looking statements, except in accordance with applicable securities
laws. There can be no assurance that forward-looking statements will prove to
be accurate, as actual results and future events could differ materially from
those anticipated in such statements. Accordingly, readers are cautioned not
to place undue reliance on forward-looking statements.
Readers should refer to Thompson Creek's annual information form for the
year ended December 31, 2006 and dated March 26, 2007 which is available on
SEDAR at www.sedar.com and is incorporated in its Registration Statement on
Form 40-F filed with the SEC on October 30, 2007 which is available at
www.sec.gov and subsequent continuous disclosure documents available at
www.sedar.com and www.sec.gov for further information on mineral reserves and
mineral resources, which is subject to the qualifications and notes set forth
For further information:
For further information: Ian McDonald, Executive Chairman, Thompson
Creek Metals Company Inc., Tel: (416) 860-1438, firstname.lastname@example.org; Wayne
Cheveldayoff, Director of Investor Relations, Thompson Creek Metals Company
Inc., Tel: (416) 860-1438, Toll free: 1-800-827-0992, email@example.com;
Tina Cameron, Renmark Financial Communications Inc., Tel.: (514) 939-3989,