Vale Base Metals appoints Shaun Usmar as new CEO

Vale Base Metals Ltd. announced Wednesday the appointment of Shaun Usmar as chief executive officer. (Vale photo)

Vale Base Metals Ltd. announced Wednesday the appointment of Shaun Usmar as chief executive officer.

Usmar will assume his new role by the end of the year and will be based in Toronto, the company said in a news release.

“He will take full responsibility for the executive management of the business, bringing his extensive experience and strategic vision to lead the company into its next phase of growth,” the release said.

"After a thorough external search process, we are delighted that Shaun will join us as CEO,” Vale chairman Mark Cutifani said in the release.

“Shaun has an outstanding track record in our industry and I am confident that he is the right person to safely lead our company as we look to capture the significant value potential recognized in our resources and assets."

Usmar is an international mining executive with more than 30 years of experience “working globally in operational, financial, and executive leadership roles in some of the world's largest and fastest-growing mining companies,” Vale said.

“Prior to this appointment, Usmar founded Triple Flag, and served as senior executive vice-president and chief financial officer of Barrick Gold Corp. from 2014 to 2016, where he helped restructure the company.”

His career also includes significant roles at Xstrata, where he joined in 2002 as a senior executive and helped grow the company into one of the world's largest diversified miners.

At Xstrata, his roles included general manager of business development in London, chief financial officer of Xstrata's global Ferro-Alloys business in South Africa, and chief financial officer of Xstrata’s global Nickel business in Canada.

“Usmar's experience further extends to BHP Billiton in Corporate Finance and operations in the steel and aluminum industries as a production engineer,” Vale said.

"Vale Base Metals is uniquely positioned as a focused global energy transition metals company to provide the critical metals the planet needs as it transitions from fossil fuels,” Usmar said in the release.

“I am extremely excited by the potential the business offers, with its vast mineral endowment, deep talent base, technological capabilities and global platform. There is so much potential and opportunity to unlock value for all stakeholders through the portfolio's imbedded growth optionality, commitment to innovation and for this business to play a formidable role as a sector leader in shaping the future of the industry.”

Vale Base Metals is one of the world's largest suppliers of high-quality critical materials including nickel, copper and cobalt. Headquartered in Toronto, it has operations in Canada, Brazil, the UK, Japan, and non-operated joint ventures in Indonesia.