Vale Base Metals appoints Shaun Usmar as CEO (updated)

Triple Flag Precious Metals

23/07/2024 12:14

(Adds details in paragraphs 3-4)
       SAO PAULO, July 23 (Reuters) - Brazilian miner Vale
 VALE3.SA  has picked Shaun Usmar as the chief executive of Vale
Base Metals, a unit focused on copper and nickel, the company
said on Tuesday. 
    He will take up the role in the fourth quarter of 2024 and
be based in Toronto, according to a securities filing.
    A mining veteran, Usmar founded and has been serving as CEO
of Triple Flag Precious Metals  TFPM.TO  after a three-year
spell as Barrick Gold's  ABX.TO  chief financial officer. He
also worked at Xstrata and BHP.
    "Shaun has an outstanding track record in our industry and I
am confident that he is the right person to lead our company,"
Vale Base Metals' chairman Mark Cutifani said, adding his
nomination came after a thorough external search process.

 (Reporting by Gabriel Araujo; Editing by Kirsten Donovan)
 ((Gabriel.Araujo2@thomsonreuters.com; +55 11 5047-3352;))