Tony Giardini appointed President as Ivanhoe Mines moves to its next phase of growth from explorer to producer Lars-Eric Johansson to retire as President and CEO
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May 1, 2019
Tony Giardini appointed President as Ivanhoe Mines
moves to its next phase of growth from explorer to producer
Lars-Eric Johansson to retire as President and CEO
TORONTO, CANADA – Robert Friedland and Yufeng “Miles” Sun, Co-Chairmen of
Ivanhoe Mines (TSX: IVN; OTCQX: IVPAF), announced today that the company has
appointed Tony S. Giardini as its new President, effective today.
Mr. Johansson, who has served as Ivanhoe’s President and Chief Executive Officer
since May 2007, has advised the company’s Board of Directors that he will retire at the
end of June 2019. Mr. Johansson will work alongside Mr. Giardini until then to ensure a
smooth and seamless transition.
Mr. Giardini’s extensive experience as a senior-level finance and mining executive
positions him well to oversee the construction and operation of Ivanhoe’s three world-
scale mine development projects in Southern Africa ─ Kamoa-Kakula, Platreef and
Kipushi.
“For more than three decades, Tony has built an impressive track record of strategic,
financial and commercial accomplishments in the mining sector,” said Mr. Friedland.
“We worked closely together at the original Ivanhoe Mines, where he was instrumental
in our successful financing, development and construction of the Oyu Tolgoi copper
and gold mine in Mongolia. He is a trusted leader, and I could not be more pleased
about his appointment to this critical role as we look to fast-track development at each
of our three principal mining projects.”
Mr. Giardini most recently was Executive Vice President and Chief Financial Officer of
Toronto-based Kinross Gold, a position he held since December 2012. From 2006 to
2012, Mr. Giardini was Chief Financial Officer of the original Ivanhoe Mines (now
Turquoise Hill Resources). Prior to that, he spent 10 years at Placer Dome, where he
held a series of senior financial positions, including Vice President and Treasurer. Mr.
Giardini is a Chartered Accountant and a Certified Public Accountant, and spent 12
years with the international accounting firm KPMG before joining Placer Dome.
“It is a great privilege to once again work alongside Robert and the rest of the Ivanhoe
team to lead Ivanhoe into our next chapter of growth,” said Mr. Giardini. “Ivanhoe is
uniquely positioned for success with three high-grade, long-life deposits that put the
company on a path to becoming a world-scale, diversified mining company. While
Ivanhoe now is transitioning to becoming an operator, it still has tremendous
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exploration potential on its 100%-owned Western Foreland exploration ground right
next door to Kamoa-Kakula. I look forward to being part of the team that continues to
grow Ivanhoe through the development of additional tier-one discoveries.”
Tadeu Carneiro, Ivanhoe’s Lead Independent Director, added: “The Board unanimously
agrees that Mr. Giardini’s leadership and experience with mine development and his
proven ability to deliver operational results, make him the right person to succeed Mr.
Johansson as the company’s President as Ivanhoe moves from explorer to operator.”
Lars-Eric Johansson to retire June 30, 2019
Mr. Johansson has been at the helm of Ivanhoe Mines and its predecessor, Ivanplats,
since May 2007, guiding it through a major transformation from a pure exploration
company to one that now has the assets, funding and partners to become one of the
world’s leading producers of copper, zinc, nickel and platinum-group metals.
“I’m very proud of the exceptional mineral discoveries we have made and the
development work we have accomplished. I’m also honored to have worked alongside
some of the brightest, most passionate people in the mining industry,” said Mr.
Johansson.
“Ivanhoe Mines is in excellent shape, and I will be leaving it in the capable hands of a
highly qualified new President, a strong management team, and dedicated employees
and partners who are committed to take the company and its projects through to
operations and beyond. I have thoroughly enjoyed my time with Ivanhoe and the
relationships with Robert, the Board, our employees and partners, and I wish them
continued success as they advance the company.”
Mr. Friedland commented: “Twelve years ago, we convinced Lars-Eric to help advance
our mineral prospects in Southern Africa and take our company public. He successfully
led our initial public offering in 2012 that raised US$308 million, assembled and oversaw
our team of exploration geologists that made the tier-one discoveries at Kamoa-Kakula
and Platreef, and skillfully managed the acquisition of the Kipushi Project. He has built
a talented team of exploration, development and finance professionals, and he leaves
us on solid ground to quickly progress our three principal projects to production.”
“Lars-Eric has done an exceptional job leading Ivanhoe Mines through a period of
tremendous growth,” said Yufeng “Miles” Sun. “He played a key role in CITIC Metal’s
transformative, long-term, strategic cooperation and investment agreement with
Ivanhoe Mines last September resulting in CITIC initially investing US$560 million, and
recently committing to invest another US$457 million through equity financings to fast-
track development of the company’s three mines in Southern Africa.”
Peter Meredith, Chair of the Audit Committee of Ivanhoe Mines, commented: “On behalf
of the Board of Directors, I would like to express our sincerest thanks to Lars-Eric for
his years of dedication and leadership. He has guided the company’s exploration and
mine development efforts with an uncompromising commitment to international best
practices in corporate social responsibility, ensuring that we conduct our operations in
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a manner that is protective of the environment and safe for our employees, contractors
and local communities, and has laid the foundation for sustainable, long-term benefits
to the host countries and communities where we operate.”
About Ivanhoe Mines
Ivanhoe Mines is a Canadian mining company focused on advancing its three principal
projects in Southern Africa: the development of new mines at the Kamoa-Kakula copper
discovery in the Democratic Republic of Congo (DRC) and the Platreef palladium-
platinum-nickel-copper-gold discovery in South Africa; and the extensive
redevelopment and upgrading of the historic Kipushi zinc-copper-germanium-silver
mine, also in the DRC. The company also is exploring for new copper discoveries on its
wholly-owned Western Foreland exploration licences, adjacent to the Kamoa-Kakula
mining licence.
Information contacts
Investors
Bill Trenaman +1.604.331.9834
Media
Kimberly Lim +1.778.996.8510