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Gold & silver

Kefi Minerals confirms director reshuffle

The 64-year-old mining and corporate finance veteran will also head up a new technical review committee.

Mark Wellesley-Wood became non-exec director at KEFI Minerals plc (LON:KEFI) with effect from August 1, the firm said, as it confirmed its board reshuffle.

As reported last month, the 64-year-old mining and corporate finance veteran will also head up a new technical review committee.

From 2017, he will become deputy chairman and senior independent director. Ian Plimmer, the current deputy chairman, will run a newly formed exploration committee.

Also from August 1, exploration director Jeff Rayner has stepped down from the board but continues as an advisor on exploration and corporate development.

John Leach has become finance director.

Executive management will continue to report to executive chairman Harry Anagnostaras-Adams.

Adams said on July 1 3: "The planned changes to the board of directors announced today reflect our transition from exploration-only to emerging production as well as exploration.“

KEFI expects to produce around 100,000 ounces of gold a year for the next decade from Tulu Kapi in Western Ethiopia at an all-in sustaining cost of approximately US$724-US$752 an ounce.

The ore reserve is 15.3mln tonnes at 2.12 grams per tonne for a total of 1.05mln ounces.

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