10th May 2016 05:59
LONDON (Alliance News) - Anglo American PLC Monday said it has chosen Ruben Fernades to lead the company's operations in Brazil as the miner shuffles its management whilst progressing with its restructuring efforts.
Fernades will become the chief executive of Anglo American in Brazil from June 20 and his primary focus will be on the company's iron ore operations, including the Minas Rio mine.
He is already the chief executive of the company's niobium and phosphates unit, but those assets are in the process of being sold, suggesting Fernades is moving to iron ore in preparation for the divestment. Fernades will continue as head of the division until the unit is sold.
Anglo American struck a deal late last month to sell its niobium and phosphates businesses to China Molybdenum Co Ltd for a total cash consideration of USD1.50 billion.
Fernades will continue to report to the chief executive of the company's base metals and minerals division, Duncan Wanblad, regarding the niobium and phosphates division and will start reporting to Seamus French, the chief executive of the bulk commodity unit, regarding iron ore.
The current interim chief executive of the iron ore unit in Brazil, Pedro Borrego, will hand over to Fernades between now and June 20.
"We congratulate Ruben Fernandes on his appointment to lead our Brazilian businesses. While we are currently progressing divestment processes for our Nickel and Niobium & Phosphates businesses, Ruben is well placed to provide leadership across Anglo American?s interests in Brazil," said Wanblad.
By Joshua Warner; [email protected]; @JoshAlliance
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