Myanmar Metals Limited (“MYL” or “the Company”) is pleased to announce that Mr Paul Arndt has been appointed to the Board of MYL as a Non-Executive Director. Mr Arndt is the nominated representative of Perilya Limited (“Perilya”). Perilya is the Company’s largest shareholder and now holds a 19.99% interest following completion of the Company’s $35 million share placement. See announcements dated 25 May 2018 and 14 June 2018 for further details.
John Lamb, Executive Chairman and CEO, stated:
“Paul is a valuable addition to our Board. His experience in leading a mining company with a global portfolio of base and precious metal projects will be drawn upon to develop Bawdwin to its full potential. We welcome Paul to the team and look forward to working closely with Perilya under our strategic alliance.”
Biography of Mr Paul Arndt:
BSc, MSc, Grad Dip Engineering, MBA
Perilya Limited Managing Director and Chief Executive Officer
Paul Arndt was appointed as Perilya’s Executive General Manager of Operations and Development in February 2008 and subsequently appointed to the joint roles of Managing Director and Chief Executive Officer of Perilya on 25 November 2008.
Paul was initially appointed to oversee performance improvements at the Broken Hill Operation. During Paul’s time with Perilya he has been instrumental in delivering almost a doubling in productivity as well as significant reductions in direct operating costs at the Broken Hill Operation. During Paul’s tenure at Perilya, it has acquired and commenced development of an underground polymetallic (copper, zinc, gold & silver) mine in the Dominican Republic.
Paul brings a range of skills and qualities well suited to the role, including a steadfast and disciplined approach to addressing key business drivers. Paul brings a wealth of mining experience and skills in the areas of strategy, commercialisation, people and project management. MYL will no doubt benefit from the many parallels in terms of developing a polymetallic mining operation in a developing country that Paul has gained from his more recent experience in the Dominican Republic.
Former roles include senior general management positions with Newcrest Mining Limited at their Telfer operation in Western Australia, Pasminco Limited’s Cockle Creek smelter in Boolaroo (NSW), and MIM Holdings Limited’s Britannia zinc and lead operation in Avonmouth (UK).
About Perilya Limited:
Perilya, an unlisted Australian public company, is an Australian base metals’ mining and exploration company. Perilya owns and operates:
The iconic “South Operations” zinc, lead and silver mine in Broken Hill, New South Wales, Australia;
The “Potosi/Silver Peak” zinv, lead and silver mine (also in Broken Hill); and the Cerro De Maimon copper, gold and silver mine in the Dominican Republic
In addition, in 2016 Perilya re-opened and commissioned its “Northern Operations” zinc, lead and silver mine (also in Broken Hill) and has just commenced development of an underground polymetallic (copper, zinc, gold & silver) mine in the Dominican Republic.
Perilya also has a number of projects currently the subject of development studies including: a zinc silicate project in South Australia; a copper/cobalt project in Queensland; and the Cumpié Hill nickel laterite project in the Dominican Republic. Perilya is owned 100% by Shenzhen Zhongjin Lingnan Nonfemet Co. Limited (“Zhongjin Lingnan”), China’s largest integrated zinc producer. Zhongjin Lingnan is listed on the Shenzhen Stock Exchange and, as at 2 May 2018, has a market capitalisation in the order of CNY22.5 billion with production of lead and zinc contained metal of 305kt in 2017. Zhongjin Lingnan controls approximately 1.4% of the zinc metal production of the world (FY2016).
Both Perilya and its parent, Zhongjin Lingnan, have had a global focus with mining operations, smelting operations, exploration and development projects in Australia, Dominican Republic, Canada, Malaysia, Ireland, Africa and the People’s Republic of China.