Aim-listed investment company Kennedy Ventures, a shareholder in the Tantalite Valley mine (TVM), near Warmbad, in Namibia’s Karas region, has appointed a new CEO whose knowledge of the international tantalum market is expected to facilitate future investments as the company grows.
The company announced in January that Larry Johnson, who will also be a director of the company, replaces Peter Hibberd, who stepped down as Kennedy Ventures’ CEO after two years to pursue other business interests.
Johnson will be based in Namibia’s capital, Windhoek, where he will seek further invest ment opportunities and manage the company’s investment in tantalum producer African Tantalum (Aftan).
Kennedy Ventures acquired 75% of Aftan for R12-million in January 2015. Aftan, in turn, has a 60% share in the TVM project, which it acquired in June 2014.
Kennedy Ventures chairperson Giles Clark emphasises that Johnson’s unique skill set will contribute in the “very specialist” sector in which the company has invested.
“Larry’s global experience in handling supply chains of conflict-free tantalum will [bring to] the company and its investee, Aftan . . . significant experience as Aftan seeks access to invaluable routes to revenue and Kennedy Ventures seeks further investments in the tantalite space.
This will be of material benefit to Aftan following the TVM plant expansion, as ramp-up concludes and it sees an increase in production of high-grade tantalite.”
Johnson is excited to be joining Kennedy Ventures at this time and is looking forward to working closely with the existing management team and Aftan. “The recent investment we made in Aftan has allowed it to expand and update the plant at the TVM, as well as open the orebody, providing for increased throughput and output. I look forward to seeking additional investment opportunities to drive the company and its investees forward in the next phase.”
Johnson (58) has more than 25 years’ experience in the tantalum industry, having worked with two large US-based publicly listed companies with core interests in tantalum.
He has held several senior key positions throughout his career and spent several years focusing on the development of conflict-free global supply chains, which will be of material benefit for the company’s investee, Aftan, states Kennedy Ventures.