Proactive Investors - Run By Investors For Investors

Noventa chairman Eric Kohn to leave at end-September, non-exec Bechis takes interim role

Noventa chairman Eric Kohn to leave at end-September, non-exec Bechis takes interim role

Tantalum miner Noventa (LON:NVTA, TSE:NTA) announced that executive chairman Eric Kohn has resigned from his position and will be leaving the company with effect from September 30.

The board would like to wish him every success in his future endeavours and thanks him for his contribution to bringing the company out of care and maintenance, ensuring its survival in very difficult circumstances and moving it towards the construction and commissioning of the Marropino mine in Mozambique.

While Noventa is looking for a replacement, non-executive director Luca Bechis will assume the role of interim non-executive chairman from October 1 until a permanent chairman is appointed.

As previously announced, John Allan will also be stepping down from his current position as chief executive, which he assumed as on an interim basis in May 2011.  This will take effect from September 30 2011, after which he will return to his role of project pirector. Fernando Fernandez-Torres, currently chief operating officer, will become CEO with effect from October 1 2011. 

Since completion of the placing at the end of August which raised US$37.6 million, encouraging progress has been made regarding the construction and commissioning of the enhanced and expanded plant at the Marropino mine, and the new plant is on schedule, the group said. 

The new pipeline, to overcome the water shortages previously flagged, is due to commence pumping from the Melela river shortly.  In addition, production from the present plant continues as previously announced. Further updates regarding progress will be made in due course.

Register here to be notified of future NVTA Company articles


August 06 2012

Related Articles

February 05

Explorer Rare Earth Minerals has a diverse portfolio in areas with demonstrated potential, including exposure to lithium, which is a "metal for the future".

© Proactive Investors 2015

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.