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Former De Beers, Mountain Province exec Brown appointed Lucapa chairperson

8th April 2024

By: Sabrina Jardim

Creamer Media Online Writer

     

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ASX-listed Lucapa Diamond Company has appointed former De Beers interim CEO and CFO Stuart Brown as independent nonexecutive chairperson and former Rothschild Australia investment banking head Ronald Beevor as an independent nonexecutive director.

Brown succeeds Miles Kennedy, who has stepped down as chairperson.

Nonexecutive director Ross Stanley has also stepped down from his position.

Brown has more than 30 years of experience in the diamond sector, having worked for De Beers for 20 years. He is also a former CEO of both Firestone Diamonds and Mountain Province Diamonds.

During his time at Firestone Diamonds, he raised $225-million to develop the Liqhobong mine, in Lesotho.

While CEO of Mountain Province Diamonds, he oversaw a processing review at the Gahcho Kue mine, in Canada, which drove further profitability through increased production throughput.

Brown is currently a nonexecutive director of London-listed Ukrainian iron-ore miner Ferrexpo. He is also a nonexecutive director and the chairperson of the audit committee of Digby Wells Environmental Holdings, a provider of environmental, social and governance consulting services to the mining industry.

Beevor is currently a director of Canadian iron-ore miner Champion Iron Limited, a director of Canadian explorer Mont Royal Resources and serves as chairperson of Felix Gold, a gold explorer with assets in the US.

Lucapa notes that all changes to the board are effective immediately.

“We are delighted to welcome Stuart and Ronnie to our board. They will both add valuable strategic, financial and governance experience from their various board and committee roles at numerous successful mining companies.

“In addition, Stuart and Ronnie will be instrumental in helping to achieve Lucapa’s goals.

“We would also like to say thank you to our outgoing director Mr Ross Stanley following his decision to step down. Ross’ input and unwavering support over the last six years have been invaluable. We wish him all the best for the future,” Kennedy comments.

Lucapa holds a 40% interest in the Lulo mine, in Angola, and a 70% interest in the Mothae mine, in Lesotho – both of which are in production.

It also owns the Merlin diamond project, in the Northern Territory of Australia.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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