Yufeng “Miles” Sun and Tadeu Carneiro join the Ivanhoe Mines Board of Directors
September 19, 2018
Yufeng “Miles” Sun and Tadeu Carneiro
join the Ivanhoe Mines Board of Directors
TORONTO, CANADA – Robert Friedland, Executive Co-Chairman of Ivanhoe Mines (TSX: IVN; OTCQX:
IVPAF), and Lars-Eric Johansson, Chief Executive Officer, are pleased to announce that Yufeng “Miles”
Sun, President of CITIC Metal Group Limited, and Tadeu Carneiro, former Chief Executive Officer of
Brazil-based Companhia Brasileira de Metalurgia e Mineração (CBMM), have joined the Ivanhoe Mines
Board of Directors.
The new appointments, which became effective earlier today with the closing of a C$723 million equity
investment in Ivanhoe by CITIC Metal Africa Investments Limited, expand the Ivanhoe Board to 11
members. Mr. Sun and Mr. Carneiro were nominated by CITIC Metal Co., Ltd. pursuant to the terms of
CITIC Metal Africa’s equity investment and acquisition of an approximate 19.5% interest in Ivanhoe
Mines.
Mr. Sun has been appointed Non-Executive Co-Chairman of Ivanhoe
Mines.
Mr. Sun joined CITIC Group Corporation in August 1987 and
managed the company's trading business in the United States for
five years. He joined CITIC Metal Co. in April 1999 and served as its
General Manager and Chairman between January 2003 and
November 2016, during which CITIC Metal Co. developed into a
major commodity trading and mining investment arm of CITIC Metal
Group.
Mr. Sun also holds directorships in several other mining,
processing and trading companies, including China Platinum Co.
Ltd., Western Superconducting Technologies Co., Ltd., Companhia
Brasileira de Metalurgia e Mineração (CBMM), and MMG South
America Management Company Limited, which owns the Las
Bambas copper project.
Mr. Sun holds a Master of Business Administration degree from the
University of Delaware and a Bachelor of English Literature from
Shanghai International Studies University.
Mr. Carneiro is CEO of Boston Electrometallurgical Corporation, an
invited lecturer in the Department of Materials Science and
Engineering at the Massachusetts Institute of Technology (MIT), and
a part-time lecturer in the Department of Mechanical Engineering at
Tufts University, also in Massachusetts.
Before his retirement as CBMM’s CEO in 2016, Mr. Carneiro spent 30
years with the company in progressively senior leadership
positions. CBMM provides approximately 80% of the world’s
niobium metal and its basic alloys, which are used in pipelines, and
heat-resistant superalloys that are used in jet engines.
Mr. Carneiro is a Fellow of the Institute of Materials, Minerals and
Mining in the U.K., and is a board member of Sigma Lithium
Resources in Canada.
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“We are delighted to welcome Miles and Tadeu as Ivanhoe directors,” said Mr. Friedland. “Their
decades of experience in the resources industry, especially in developing international mining
businesses in emerging markets, will be extremely valuable assets as we work to bring our projects
into production.”
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 platinum-palladium-nickel-copper-gold discovery
in South Africa; and the extensive redevelopment and upgrading of the historic Kipushi zinc-copper-
germanium-lead mine, also in the DRC.
Information contacts
Investors Media
Bill Trenaman +1.604.331.9834 North America: Bob Williamson +1.604.512.4856
South Africa: Jeremy Michaels +27.82.772.1122