Mustang appoints new MD to oversee Mozambique projects

JOHANNESBURG (miningweekly.com) – ASX-listed Mustang Resources has appointed' Dr Bernard Olivier to its board as MD, and has created a new position of COO, which is filled by Cobus van Wyk.

Olivier has stepped into the position that Christiaan Jordaan vacated in November.

Van Wyk, who was a nonexecutive director, is now in an executive position on the board. He will be reporting to Olivier and together they will focus on the development of Mustang’s ruby and graphite projects.

Jordaan remains a nonexecutive director of the Mustang board and has replaced Van Wyk as CEO of Regius Resources, which is a substantial shareholder of Mustang. Regius provides management and technical services to Mustang.

Olivier, who is a dual Australian and South African national, will be based in South Africa, which is relatively close to the company’s operations in Mozambique.

Mustang chairperson Ian Daymond highlighted that Olivier brought significant experience in all aspects of coloured gemstone mining, marketing and sales and was a key person in the development of the TanzaniteOne coloured gemstone mining operation in Tanzania, where he managed a team of over 600 employees. 

“In addition, he has a background in the graphite sector and eight years’ experience as CEO of a LSE-listed company,” he pointed out.

Olivier, who holds a PhD in Economic Geology from the Stellenbosch University, South Africa, has been the CEO of Bezant Resources since  2012 and of Richland Resources (formerly Tanzanite One) since 2010.

Both Aim-listed companies on Monday confirmed Olivier's resignation.

Bezant, which has projects in the Philippines and Colombia, announced that executive director Laurence Read had assumed the role of CEO with immediate effect.

Richland, which owns the Capricorn mine in Australia, said in a statement that it was in the process of appointing a new CEO and that the appointment process was "well advanced".