Business & Finance
Business and Finance
Business and Finance
Tue, December 23, 2008 FNX Mining Company Inc.: FNX Announces Senior Management Appointments
TORONTO, ONTARIO--(Marketwire - Dec. 23, 2008) - FNX Mining Company Inc. (TSX:FNX) ("FNX" or "the Company") - Terry MacGibbon, Chairman and CEO of FNX is pleased to announce the appointments, effective immediately, of William (Bill) Shaver as Chief Operating Officer, Gord Morrison as Senior Vice President, Exploration and Catharine Farrow as Senior Vice President, Corporate Development and Technical Services.
Bill is a Queen's University mining engineering graduate and a co-founder of Dynatec Corporation. From 1980-2004, he was Senior Vice President of Dynatec and responsible for all Mining Services Operations. From 2006-2008, he served as Executive Vice President, Mine Development and Canadian Operations for Denison Mines Corp. In September 2008, Bill was appointed President, DMC Mining Services, a division of FNX. Bill will report directly to the CEO.
Mr. MacGibbon noted that, "Bill is a proven operator and his appointment as COO of FNX broadens Bill's mandate from our DMC Mining Services division to include responsibility for all of our mining operations and developments at our Sudbury Mining division. Bill will add his broad and deep mining experience to our current strong mining team with a mandate to manage our Sudbury operations through these challenging times, to develop the Levack Footwall production and to position the Company to thrive when commodity prices improve."
Gord Morrison, after a very successful 30 year career in Vale Inco's Sudbury and world wide exploration department, joined FNX in 2002 and was appointed Senior Vice President, Corporate Development in 2007. Gord will continue to be a member of the senior executive team and in his new role he will be responsible for all of the Company's exploration activities and report directly to the CEO.
Catharine Farrow is a professional geologist and has a PhD in geology from Carleton University. She joined FNX in March 2003 as Chief Geologist and in 2007 was appointed Vice President, Exploration. She is a widely published expert on platinum group elements and is an Adjunct Professor at both the University of Toronto and Laurentian University. In her new role, Catharine will become a member of the Company's senior executive team and report directly to the CEO. In addition to identifying and evaluating corporate opportunities, she will represent the Company in its business relationships with other companies.
Terry MacGibbon added that, "Gord and Catharine have given FNX a strong advantage in creating value through successful exploration in the Sudbury mining camp. Together with their exploration team, they have made several discoveries over the past five years, which have quickly been brought into production or are under development. Of particular note was the discovery of the Levack Footwall Deposit in 2005, which has the potential to the Company's greatest asset and to generate exceptional margins and cash flows for FNX once commercial production commences." He added "The appointments announced today greatly strengthen the company's senior executive team and will allow the Company to better manage the current economic downturn."
About FNX
FNX produces, develops and explores for nickel, copper, cobalt, platinum, palladium, and gold at its mining properties located in the prolific Sudbury mining camp, Ontario, Canada. The Company produces ore from its McCreedy West, Levack and Podolsky Mines, crushes and samples the ore on surface and trucks it to third party facilities to be milled, smelted, refined and marketed. FNX has a strong balance sheet, zero debt and current growth plans focused on higher margin, copper-precious metal ores.
