5 Aug 2008 07:00
5 August, 2008
Minco Plc ("Minco" or the Company")
New Board Members Appointed
London, 5 August, 2008 - Minco plc (MIO), the London AIM quoted exploration and development company is pleased to announce the appointment of two new non-executive directors with immediate effect. The new appointees have extensive experience in various aspects of the mining industry including the Irish mining sector.
Bert-Ove Johansson - Mr. Johansson brings a wealth of senior management experience in the international mining industry, gaining operational experience in Sweden, Ireland, Ethiopia and Saudi Arabia. Mr. Johansson is based in Stockholm and is currently Regional Director of Operations for Northland Resources Inc. ("Northland"), a company listed on the TSX, Oslo and Frankfurt Exchanges, exploring and developing iron, copper and gold properties in Sweden and Finland, where he is responsible for building and leading the operational organization that will manage Northland's new mines.
He was formerly Managing Director and a Board Member of Boliden Tara Mines Ltd. operating Europe's largest zinc mine at Navan, Ireland where he was tasked with modernizing the organization at the Navan mine. More recently he held a Business Development role at Boliden Mineral AB, the mining and smelting company based in Sweden. His experience also includes technical, managerial and operational positions at Boliden's Aitik Mine and LKAB's Kiruna and Malmberget operations in Sweden. He received a M.Sc. in Mining from the Luleå University of Technology in Sweden.
Peter McParland - Mr. McParland is Managing Director of Quarrying and Mining Equipment Limited ("QME"), based in Navan, Co. Meath. QME is a world leader in supplying top-quality remanufactured scoop trams and drilling equipment and in the provision of contract mining services to the mining industry worldwide.
He has been associated with the mining sector in Ireland for many years both directly and through family ties to the Northgate/Tara group. He was previously a director of Minco Plc, and its predecessor Irish Marine Oil Plc, from 1997 to 2001.
Commenting on the appointments, John Kearney, Executive Chairman of Minco said: "We are delighted that Peter, and Bert-Ove have agreed to serve as non-executive directors on the Minco Board. Their appointments will significantly strengthen the governance and industry expertise of the Board. They have distinguished careers in the mining industry world-wide but at the same time have a deep insight into the Irish mining sector. The existing Board looks forward to working with them to unlock the value we believe lies within Minco's asset base as it proceeds with the exploration of Pallas Green and the spin-out of its Mexican projects through the listing of Orca Minerals."
The Company will continue to strengthen the Board as opportunities arise in the future.
Save as set out below there are no items requiring disclosure in accordance with Schedule 2 (g) ii-viii of the AIM Rules for Mr. Johansson or Mr. McParland.
Mr. Johansson, aged 57, has held the following directorships or partnerships in the past five years:
| Current | Previous |
| None | Boliden Tara Mines Ltd. |
Mr. McParland, aged 46, has held the following directorships or partnerships in the past five years:
| Current | Previous |
| Quarry & Mining Equipment Limited | Magna Tyres Limited |
At the time of appointment to the Board, neither Mr. Johansson nor Mr. McParland hold any ordinary shares or share options in the Company.
About Minco:
Minco PLC is an AIM quoted precious and base metals exploration and development company engaged in zinc exploration in Ireland in a joint venture with Xstrata Zinc and investments in zinc-silver projects in Mexico through a 60% shareholding in Orca Minerals Limited which has recently applied for listing on the TSX Venture Exchange (Toronto) under the new name of XTIERRA Resources Ltd.
| For further information, www.minco.ie or contact: | |
| John Kearney: Executive Chairman | +1 416 362 6686 |
| Terence McKillen: Chief Executive | +1 416 362 6686 |
| Danesh Varma: CFO & Company Secretary | +44 (0) 8452 606 034 |
| John Frain / Fergal Meegan: (NOMAD) Davy | +353 (0)1 6796363 |
| Tom McCormack: (Ireland PR) ConneXions | +353 (0)1 230 3015 |