Anglo American shrinks trading unit as part of major restructuring
The miner also announced internally that it will no longer enter into long-term deals to buy commodities that it doesn’t already produce.
Montreal, Quebec. – Orbite Aluminae Inc. (TSX:ORT) (the “Company”) is pleased to announce two new appointments to its Board of Directors, adding Michael Hanley and Jean-Sébastien David as independent Board members. These appointments take effect immediately.
“These additions strengthen the Board’s governance and enable continued adherence to Best Practices. Mr. Hanley and Mr. David will add to the already significant background, network, and experience of the Board, thus facilitating Orbite’s development,” stated Lionel Léveillé, Chairman of the Board of Directors of Orbite Aluminae.
“We are delighted to welcome Mr. Hanley and Mr. David to Orbite, as both individuals bring with them leading-edge expertise and impressive track records,” declared Richard Boudreault, President and CEO of Orbite Aluminae. “The arrival of these new members, bringing the Board composition from seven to nine members, reaffirms the commitment of our Board of Directors to the success and sound management of our business and further facilitates our ongoing transition towards commercialization of alumina products.”
Michael Hanley, CA, Board Member
Mr. Hanley is a Chartered Accountant since 1987 with many years’ experience in corporate governance. Between 2009 and 2011, he was Senior Vice-President, Operations and Strategy Initiatives and a member of the Office of the President at National Bank of Canada. Prior to this, he spent ten years with Alcan in positions that included, among others, President and CEO of the global Bauxite and Alumina business group and Executive Vice-President and Chief Financial Officer leading up to and at the time of the acquisition by Rio Tinto. Mr. Hanley holds a Bachelor of Business Administration.
“I am very pleased to be joining Orbite,” stated Mr. Hanley. “I am impressed with the organization’s progress and its potential to bring structural changes to the aluminum industry, which is underscored by a positive environmental impact and 100% Quebec technological innovation.”
Jean-Sébastien David, MPM, Geo., Board Member
Mr. David is a member of the Ordre des géologues du Quebec and has more than 20 years’ experience in geology, sustainable development, and the environment. He has been a member of environmental committees for both the Association minière du Québec and the Association de l’exploration minière du Québec. From 2007 to 2011, he was Vice-President of the Osisko Mining Corporation and sat on its management committee. He also has to his credit a number of achievements at many other organizations, including Cambior IAMGOLD, and Louisiana-Pacific Canada, where he held key management and environmental positions. Mr. David holds a Bachelor of Geology degree and a Master’s degree in project management.
“It is with a great deal of enthusiasm that I join the Orbite Aluminae Board of Directors, and get to work on a concrete example of an innovative mining project with a green technology”, acknowledged Mr. David. “I am honoured at the prospect of working with the Company’s executive team in the best interests of the corporation.”
About Orbite
Orbite currently owns 100% of the mining rights over a total of 60 984 hectares including the Grande-Vallee property measuring 6 665 hectares, the site of an aluminous clay deposit located 23 km south of Grande-Vallee, and a 2 600 m2 facility in the process of being converted into a high-purity alumina plant in Cap Chat, in the Gaspe region. An NI 43-101 report identified a Resource of between 800 million and 1 billion tonnes of aluminous clay in part of the deposit. The Company also owns nine different families of intellectual property rights, protected by Canadian and U.S. patents, for extracting alumina and for which patents are also pending in other countries. www.orbitealuminae.com.
