Usmar appointed Vale Base Metals CEO
Shaun Usmar, an international mining executive with more than 30 years’ experience, has been appointed CEO of Vale Base Metals (VBM).
Usmar, a past Barrick Gold CFO and former Xstrata executive, will assume his role at Vale’s energy transition metals business at the end of 2024. He will be based in Toronto.
Prior to the appointment, Usmar founded royalty and streaming company Triple Flag and served as CEO. He will be succeeded at Triple Flag by Sheldon Vaderkooy, the current CFO.
Meanwhile, VBM chairperson Mark Cutifani said he believed Usmar was the right person to lead the company.
“Shaun has an outstanding track record in our industry,” Cutifani said in a statement.
Commenting on his appointment, Usmar said VBM was uniquely positioned as a focused global energy transition metals company.
“I am extremely excited by the potential the business offers, with its vast mineral endowment, deep talent base, technological capabilities and global platform.
"There is so much potential and opportunity to unlock value for all stakeholders through the portfolio’s embedded growth optionality, commitment to innovation and for this business to play a formidable role as a sector leader in shaping the future of the industry,” he said.
VBM is one of the biggest suppliers of high-quality materials, including nickel, copper and cobalt. The Toronto-headquartered company has operations in Canada, Brazil, the UK and Japan.
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