Alderon appoints new CFO
TORONTO (miningweekly.com) – Labrador Trough-focused project developer Alderon Iron Ore has appointed Francois Laurin as CFO with effect from June 17, following the resignation of Keith Santorelli.
Laurin held several senior management positions in Canada before joining Alderon, having previously served as CFO at Consolidated Thompson Iron Mines, which was acquired by Cliffs Natural Resources for $4.9-billion in 2011.
Most recently, he was president and CEO of Cap-Ex Iron Ore and CFO of Copper One. He currently serves on the boards of Cap-Ex Iron Ore, Copper One, Mason Graphite and McGill University Health Centre and is a member of the audit committee of McGill University.
Laurin is a certified public accountant, a chartered accountant and a chartered financial analyst.
"As we approach the financing and construction phase of the Kami project, we are well positioned to move forward with our execution plans," Alderon president and CEO Tayfun Eldem said.
The company, in May, through the Kami Mine partnership, entered into a definitive engineering, procurement and construction management agreement with WorleyParsons Canada Services for the development of the Kami iron-ore project.
Under the terms of the agreement, WorleyParsons would be responsible for the $92.5-million budget to develop the project.
Alderon’s TSX-listed shares edged up 3%, to C$1.03 apiece, on the news, but had lost about 41% in value from the start of the year.
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