DENVER, CO, Nov. 9, 2012 /CNW/ - Thompson Creek Metals Company Inc. (the
"Company"), a growing, diversified North American mining company, today
announced that its Chairman and Chief Executive Officer, Kevin
Loughrey, has informed the Board of Directors of the Company of his
desire to retire within the next 18 months, subject to a suitable
successor being identified by the Board. Mr. Loughrey plans to
continue in his current role until a replacement is named and to remain
with the Company in any capacity necessary following his retirement to
ensure a stable transition.
"It has been a great privilege to lead this organization, and to work
with so many talented individuals," commented Mr. Loughrey. "I am so
proud of what we have accomplished as a Company during my tenure and I
am confident in the Company's future. I look forward to working with
the Board of Directors on the transition to new leadership."
Timothy Haddon, the Lead Director of the Company's Board of Directors,
said "We are sorry to see Mr. Loughrey retire, but are happy he plans
to be here through the start-up of the Company's new Mt. Milligan
copper-gold mine, and are grateful for his leadership and dedication to
Mr. Loughrey, 62, has been Chairman and Chief Executive Officer of the
Company since 2006. Under Mr. Loughrey's leadership, the Company was
listed on the New York Stock Exchange in November 2007 and achieved
record revenues of $1 billion in 2008. Mr. Loughrey also orchestrated
the acquisition of Terrane Metals Corp. in 2010, taking the Company
from a pure molybdenum producer to a diversified base metals company.
About Thompson Creek Metals Company Inc.
Thompson Creek Metals Company Inc. is a growing, diversified North
American mining company. The Company produces molybdenum at its
100%-owned Thompson Creek Mine in Idaho and Langeloth Metallurgical
Facility in Pennsylvania and its 75%-owned Endako Mine in northern
British Columbia. The Company is also in the process of constructing
the Mt. Milligan copper-gold mine in northern British Columbia, which
is expected to commence production in 2013. The Company's development
projects include the Berg copper-molybdenum-silver property and the
Davidson molybdenum property, both located in central British
Columbia. Its principal executive office is in Denver, Colorado and
its Canadian administrative office is in Vancouver, British Columbia.
More information is available at www.thompsoncreekmetals.com.
Cautionary Note Regarding Forward-Looking Statements
This news release contains ''forward-looking statements'' within the
meaning of the United States Private Securities Litigation Reform Act
of 1995 , Section 27A of the Securities Act of 1933, Section 21E of the
Securities Exchange Act of 1934 and applicable Canadian securities
legislation. These forward-looking statements generally are identified
by the words "believe," "project," "expect," "anticipate," "estimate,"
"intend," "future," "plan," "may," "should," "will," "would," "will
be," "will continue," "will likely result," and similar expressions.
Our forward-looking statements include statements with respect to:
statements as to the projected development of Mt. Milligan; and
statements as to the timing of the retirement date of our Chairman and
CEO and the appointment of his successor.
Where we express an expectation or belief as to future events or
results, such expectation or belief is expressed in good faith and
believed to have a reasonable basis. However, our forward-looking
statements are based on current expectations and assumptions that are
subject to risks and uncertainties which may cause actual results to
differ materially from future results expressed, projected or implied
by those forward-looking statements. Important factors that could cause
actual results and events to differ from those described in such
forward-looking statements include construction delays at the Company's
Mt. Milligan project, difficulties in identifying and attracting a
suitable successor to our Chairman and CEO and the other risks
described in the section entitled "Risk Factors" in our Annual Report
on Form 10-K, Quarterly Reports on Form 10-Q and other documents filed
on EDGAR at www.sec.gov and on SEDAR at www.sedar.com. Although we have attempted to identify those material factors that
could cause actual results or events to differ from those described in
such forward-looking statements, there may be other factors, currently
unknown to us or deemed immaterial at the present time, that could
cause results or events to differ from those anticipated, estimated or
intended. Many of these factors are beyond our ability to control or
predict. Given these uncertainties, the reader is cautioned not to
place undue reliance on our forward-looking statements. We undertake no
obligation to update or revise publicly any forward-looking statements,
whether as a result of new information, future events, or otherwise.
SOURCE: Thompson Creek Metals Company Inc.
For further information:
Director, Investor Relations
Thompson Creek Metals Company Inc.
Tel: (303) 762-3526
Renmark Financial Communications Inc.
Tel: (416) 644-2020