Prieska copper zinc mine
JSE- and ASX-listed Orion Minerals has accepted the resignation of Philip Kotze from the board, with immediate effect.
During the past several months, Orion has undertaken a review of its board’s growing responsibilities as the company transitions into a development stage at its copper and zinc mines in South Africa’s Northern Cape.
This review led to the recent appointments of experienced nonexecutive directors Anthony Lennox and Patience Mpofu, as announced last year.
The current board composition included Kotze as a representative of Clover Alloys Copper Investments, which is a 9.2% shareholder in Orion.
Orion is progressing possible funding and transaction opportunities with multiple parties, including Clover Alloys, in respect of the company’s various projects.
As ongoing discussions with Clover Alloys could put Kotze in a conflicted position, he and the board have agreed that it would be preferable for him to step down.
“We would like to thank Philip for his valuable contribution to the Orion board over the past ten months, which has assisted us to firm our early production plans at the Prieska copper/zinc mine and the Okiep copper project.
“We look forward to continuing our valued involvement with Mr Kotze and with Clover Alloys, who remain supportive shareholders,” Orion chairperson Denis Waddell says.