Dar es Salaam, Tanzania - August 24, 2012, Dar es Salaam, Tanzania - Shanta Gold Limited, the East African gold mining company, announced the restructuring of its management and board of directors.
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Mr. Michael Houston will be appointed as Chief Executive Officer from October 1, 2012.
Mr. Houston has more than 35 years of mining experience, primarily within the Anglo American Group in Zimbabwe where he was responsible for managing several small to medium mining companies. On leaving Anglo American, Mr. Houston became Chief Operating Officer of Zimplats Holding Limited before being promoted to Chief Executive and latterly Chairman of the company. He remains a non-executive director of the company.
Mr. Gareth Taylor will step down as Chief Executive Officer, effective 30 September 30, 2012. He will remain on the Board as an Executive Director and will take on the role of Technical Director.
For 28 years Mr. Taylor was employed by AngloGold Ashanti where he was head of mining and planning for the company’s East and West Africa region and also managing director of the Geita Gold Mine in Tanzania. Mr. Taylor also served at Barrick Gold, where he was executive general manager for Barrick Gold Tanzania and vice president for Barrick Gold Africa, responsible for all Barrick's operational interests in Africa.
Mr. Walton Imrie is to step down as Executive Chairman on 30 September 2012, and will be appointed as Non-Executive Chairman.
Mr. Imrie is a member of the Audit and Remuneration Committees. He started his career in stockbroking in South Africa in the early 1970s, then took up employment with Shaw & Co in London. He started an independent financial consultancy business which eventually became the Swiss based asset management company, Kestrel SA.
Mr. Imrie has been involved with gold mining and exploration through a number of vehicles including Simmer and Jack Mines Limited and Southern Prospecting (Pty) Limited. He was a board member of Francistown Mining Limited and is currently a director and shareholder of Pan African Mining (Pty) Ltd, a Zimbabwean gold producer.
Mr. Nicholas Davis has been appointed as Non-Executive Director, effective immediately.
Mr. Davis is a corporate lawyer at Memery Crystal LLP and has more than 12 years of experience providing corporate finance and M&A advice to a range of companies listed on AIM and the Main Market of the London Stock Exchange. ■