Vale Base Metals, the holding entity for Vale's energy transition metals business, has announced the appointment of Shaun Usmar as Chief Executive Officer. Usmar will assume his new role by the end of the year and will be based in Toronto. He will take full responsibility for the executive management of the business, leveraging his extensive experience and strategic vision to guide the company into its next phase of growth.
Mark Cutifani, Chairman of Vale Base Metals, expressed confidence in Usmar's leadership, stating, "After a thorough external search process, we are delighted that Shaun will join us as CEO of VBM. Shaun has an outstanding track record in our industry, and I am confident that he is the right person to safely lead our company as we look to capture the significant value potential recognized in our resources and assets. On behalf of the Board, we congratulate Shaun on his appointment as Chief Executive."
Shaun Usmar brings over 30 years of international mining experience, having held operational, financial, and executive leadership roles in some of the world's largest and fastest-growing mining companies. Before this appointment, Usmar founded Triple Flag and served as Senior Executive Vice President and Chief Financial Officer of Barrick Gold Corporation from 2014 to 2016, where he played a pivotal role in restructuring the company.
Usmar's career includes significant roles at Xstrata, where he helped grow the company into one of the world's largest diversified miners. His roles at Xstrata included General Manager of Business Development in London, Chief Financial Officer of Xstrata's global Ferro-Alloys business in South Africa, and Chief Financial Officer of Xstrata's global Nickel business in Canada. He also has experience with BHP Billiton in Corporate Finance and operations in the steel and aluminum industries as a production engineer.
Commenting on his new role, Usmar said, "Vale Base Metals is uniquely positioned as a focused global energy transition metals company to provide the critical metals the planet needs as it transitions from fossil fuels. I am extremely excited by the potential the business offers, with its vast mineral endowment, deep talent base, technological capabilities, and global platform. There is so much potential and opportunity to unlock value for all stakeholders through the portfolio's embedded growth optionality, commitment to innovation, and for this business to play a formidable role as a sector leader in shaping the future of the industry. Against this backdrop, it is a great time to be stepping into the role of CEO. I am deeply grateful for the opportunity and I look forward to the possibilities ahead and to working closely with the talented executive team, all our employees, and our Board."
