Diversified mining major Xstrata has announced the appointment of Mark Moffet as CFO of Xstrata Alloys, reporting to Peet Nienaber, Xstrata Alloys CEO.

Shaun Usmar, former CFO of Xstrata Alloys, has been appointed as CFO Xstrata Nickel, a newly created global commodity business within the Xstrata Group following the acquisition of Falconbridge, based in Toronto, Canada.

Moffett joins Xstrata from Debswana Diamonds of Botswana, where he held the position of group finance manager.

Before that he held the position of group finance manager for the De Beers, in South Africa. He will take up his new position on September 18, 2006.

In the two years that Usmar spent as CFO of Xstrata Alloys, he was instrumental in entrenching the Xstrata-Merafe Chrome Venture, restructuring the company’sfinance function and concluding an agreement with Anglo Platinum to establish the Mototolo PGM joint venture, followed by the sale of 26% of Xstrata's participation in the Venture to Kagiso Trust Investments to satisfy its BEE obligations.

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