West Perth-based mineral explorer Equinox Minerals Ltd has appointed former Placer Dome Inc chief executive Peter Tomsett as chairman in a non-executive capacity, replacing Brian Penny who will remain a director of the company.
West Perth-based mineral explorer Equinox Minerals Ltd has appointed former Placer Dome Inc chief executive Peter Tomsett as chairman in a non-executive capacity, replacing Brian Penny who will remain a director of the company.
The full text of a company announcement is pasted below
Equinox Minerals Limited (TSX and ASX symbol: "EQN") is pleased to announce that Peter Tomsett has been appointed to its Board of Directors effective July 1, 2007. Mr Tomsett has also accepted the appointment of Non-Executive Chairman and will be a member of the Audit Committee, Compensation Committee and the Corporate Governance and Nominating Committees. Mr Tomsett replaces acting Non-Executive Chairman Brian Penny, who will remain as a Non-Executive Director.
Mr Tomsett has over 25 years of experience in the mining industry, including 20 years with Placer Dome Inc. ("Placer"). Most recently, he served as President and Chief Executive Officer of Placer until its acquisition by Barrick Gold in January 2006. After starting his career with CRA Ltd. at Broken Hill, Mr Tomsett joined Placer in 1986 in the Project Development group and subsequently held senior executive roles including responsibility for Placer's Asia Pacific region as Executive Vice-President and later also took on responsibility for Placer Dome Africa, which operated mines in South Africa and Tanzania. He was appointed as President and Chief Executive Officer of Placer in September 2004.
Mr Tomsett graduated with a Bachelor of Engineering (1st Class Honours) in Mining Engineering from the University of New South Wales, later attaining a Master of Science (Distinction) in Mineral Production Management from Imperial College, London. He has been a director of the World Gold Council and the International Council for Mining and Metals. Mr Tomsett is currently a director of North American Energy Partners Inc. and Silver Standard Resources Inc.
In conjunction with Mr Tomsett's appointment the Company has offered him a once off commencement allocation of 1 million stock options to acquire Equinox shares at an exercise price equal to the five day volume weighted average price of shares traded on the TSX prior to his engagement.
Equinox President and Chief Executive Officer, Mr Craig Williams said of Mr Tomsett's appointment, "I am delighted that Peter has agreed to join our Board of Directors as Non-Executive Chairman. Peter's extensive industry experience and exposure in North America, Africa and Australia will bring a wealth of expertise to the Board and to Equinox as we continue to develop the Lumwana Project in Zambia, scheduled for commissioning in Q2-2008."
Lumwana, owned 100% by Equinox, is located in the North Western Province of the Republic of Zambia. It is anticipated that the Lumwana mine will produce an average of 169,000 tonnes of copper metal per year contained in concentrates for the first 6 years of its 37 year mine life.