1000х90.jpg (78 KB)

Time in Yerevan: 11:07,   29 March 2024

Lydian International CEO resigns, João Carrêlo named successor

Lydian International CEO resigns, João Carrêlo named successor

YEREVAN, MAY 3, ARMENPRESS. President and Chief Executive Officer of Lydian International Howard Stevenson, member of the Board, has resigned effective May 1, 2018, Lydian said in a press release.

Gordon Wylie, Chairman of Lydian, commented on behalf of the Board, “We thank Howard for his contributions to Lydian over the past four years and his dedicated service that has been instrumental in bringing Lydian’s Amulsar Gold Project into the final stages of construction. The Board wishes Howard well in his future endeavors.”

Lydian also announced that the Board of Directors has appointed João Carrêlo as President and Chief Executive Officer and a member of the Board, effective May 1, 2018.  Mr. Carrêlo is a senior mining executive with over 34 years of international experience in the mining and resource sectors. He currently serves as a non-executive director on the boards of TMAC Resources Inc. and Lucky Minerals Inc. His experience includes the management of underground and open pit projects and operations, with exposure to precious metals, base metals, coal, and industrial minerals in Latin America, Europe, India, and Africa. Mr. Carrêlo previously served as President, CEO and Director of Eco Oro Minerals Corp. from 2012 to 2014, as well as Executive Vice President and Chief Operating Officer of Lundin Mining Corporation from 2007 to 2012. He holds a Bachelor of Science Degree (Hons.) in Mining Engineering from the University of Newcastle Upon-Tyne in the United Kingdom and a Master of Business Administration Degree from the European Management School in the United Kingdom.

Mr. Wylie added, “We welcome João to Lydian as he brings essential and relevant experience that will be instrumental in completing the construction and development of the Amulsar Gold Project. Mr. Carrêlo also has a clear understanding of the growth and value drivers that will enable our Company to prosper going forward.”

Mr. Carrêlo stated, “I look forward to leading the Lydian team through Amulsar’s transition from construction into production, as well as executing the Company’s strategic growth objectives to build a world-class gold mining company.” 

The Board and the entire Lydian organization remain committed to bringing Amulsar into production in 2018 for the benefit of all stakeholders and continuing the Company’s ongoing dedication to health, safety, and the environment, Lydian said.

Lydian is a gold developer focusing on construction at its 100%-owned Amulsar Gold Project, located in south-central Armenia. Amulsar will be a large-scale, low-cost operation with production expected to begin in 2018. Gold production is targeted to average approximately 225,000 ounces annually over an initial 10-year mine life, making Lydian one of the largest gold producers to emerge during 2018. Open pit mining and conventional heap leach processing contribute to excellent scale and economic potential. Estimated mineral resources contain 3.5 million measured and indicated gold ounces and 1.3 million inferred gold ounces as outlined in the Q1 2017 Technical Report. Existing mineral resources beyond current reserves and open extensions provide opportunities to improve average annual production and extend the mine life.

English –translator/editor: Stepan Kocharyan








youtube

AIM banner Website Ad Banner.jpg (235 KB)

All news    


Digital-Card---250x295.jpg (26 KB)

12.png (9 KB)

About agency

Address: Armenia, 22 Saryan Street, Yerevan, 0002, Armenpress
Tel.: +374 11 539818
E-mail: [email protected]