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International Mining & Infrastructure Corporation (LON:IMIC) has set its stall out with its selection for the newly created role of chief operating officer.
It has appointed Mohamedoune Khalifa Ould Beyah, who has considerable African mining experience, but whose last role was negotiating contracts with customers in Europe and China.
This is significant as IMIC is planning to unlock west-Africa’s iron ore potential with the help of the People’s Republic, which will also be a major off-taker of production.
Khalifa comes from Mauritania's state-owned iron ore company, Société Nationale Industrielle et Minière (SNIM), which is Africa’s second largest iron ore producer.
He rose to chief operating officer and most recently held the role of SNIM's managing director in Paris.
Here he was responsible for global sales and marketing and negotiating contracts with major customers.
IMIC chairman Haresh Kanabar said:"We are delighted to welcome Khalifa to the team at IMIC as chief operating officer.
“He has extensive operational and commercial experience in the African iron ore industry.
“This will be invaluable as we continue to deliver our strategy for becoming a significant force in African iron ore whilst playing a key role in west and central Africa's social and economic development.”
Ocean Equities applauded the appointment of such an experienced executive to the operational team.
Analyst Adam Lucas points out IMIC’s new chief operating officer has specific expertise in magnetite ore production that will be crucial to the development of the soon-to-be-acquired Nkout deposit in Cameroon.
“Khalifa has over three decades worth of experience in African iron ore,” Lucas added.
“The appointment of Khalifa as IMIC’s chief operating officer further bolsters IMIC’s management and advisory team to execute its central and west African iron ore strategy.”
At 1.50pm, the shares were changing hands for 31.51p for a rise of 3% and have risen 11% in the last month.