Ivanhoe appoints new co-chair as Sun retires
Yufeng "Miles" Sun has retired as co-chairperson and director of base and precious metals miner Ivanhoe Mines.
Weibao "Webber" Hao has been appointed to succeed Sun as co-chairperson and director.
Sun was appointed to the Ivanhoe board in September 2018, following the first of two strategic investments made by CITIC Metal into Ivanhoe, totaling C$1.3-billion.
CITIC Metal’s investment was transformational for Ivanhoe, providing the necessary funding required to commence the construction of Kamoa-Kakula – the company's copper operation in the Democratic Republic of Congo (DRC).
CITIC Metal remains Ivanhoe’s largest shareholder, at about 26%.
"Ivanhoe would like to thank Mr Sun for his tremendous contributions during his tenure on the board and wish him all the best in his retirement," the company states.
“We would also like to warmly welcome Mr Hao to our esteemed board and are confident that his expertise and experience will be a great complement to our group of diverse and talented directors.
"His decades of experience in the natural resources industry, especially in developing international businesses in emerging markets, will be extremely valuable assets as we complete the Phase 3 expansion at Kamoa-Kakula and bring our Platreef and Kipushi mines into production next year," it adds.
The Kipushi copper mine is also located in the DRC, while the Platreef platinum group metals project is located in South Africa.
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