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Okapi Resources has a new chair. Former Newmont Mining exec takes the chair for Okapi’s next phase of growth
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Okapi Resources’ (ASX:OKR) board has received a boost following the appointment of highly experienced mining executive Brian Hill as its non-executive chair.
Hill has over 35 years’ experience across the globe with a massive track record and extensive experience in cut and thrust of building businesses, M&A, due diligence, corporate and social governance.
He previously served as executive vice president operations including global responsibility for health and safety and executive vice president sustainability and external relations at Newmont Mining Corp, one of the world’s largest gold producers.
Asia-Pacific expertise
Prior to that, he was Newmont’s senior vice-president for its Asia Pacific Region with responsibility for Boddington, Jundee, the Kalgoorlie Consolidated Gold Mines JV and the Tanami operations in Australia, along with Batu Hijau in Indonesia and Waihi in New Zealand.
Hill has also served as a member of the Minerals Council of Australia’s board and an executive committee member of the Chamber of Minerals and Energy of Western Australia.
Prior to that, he served as managing director for LionOre Australia, up to June 2007 when it was acquired by MMC Norilsk Nickel for well over $7 billion.
From 2004 to 2006, he was managing director Equatorial Mining, which reached a market capitalisation of $550 million during his tenure before being purchased by Antofagasta.
Hill also served as the managing director of Falconbridge (Australia) Pty Ltd from 2000 to 2004 and is currently an operating partner at mining private equity firm Pacific Road Capital and a non-executive director of North Coal.
The next stage of growth
Hill will step in for interim chairman Peretz Schapiro who joined the board in April 2021 and had played a key role in the company’s transition and growth.
“I am very excited by the appointment of Brian Hill as the incoming Chairman. Brian will add significant leadership and experience to the Board,” managing director Andrew Ferrier said.
“Brian and I worked closely together at Pacific Road and share a common set of views and beliefs on how to create shareholder value through both project development and acquisition and also the importance of corporate social responsibility.
“This is another stepping stone for the company as we continue to build the Board and management team with the vision of building a uranium company in North America.
Ferrier also thanked Peretz for his support and service, saying he had played a fundamental role in the company’s transformation over the past six months.
Hill of beans: let’s talk remuneration
Subject to shareholder approval, Hill will be issued up to 1.8 million performance rights, each of which entitles him to acquire a share in Okapi.
The first two tranches of 300,000 performance rights each will vest on the company achieving and maintaining a volume weighted average price (VWAP) of at least 50c and 60c respectively for a continuous period of 20 trading days on or before 31 December 2025.
The other two tranches of 600,000 performance rights each will vest if the VWAP hits 70c and 80c or more, respectively.
This article was developed in collaboration with Okapi Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
