PERTH: Davenport Resources Ltd announced the appointment of former Lonmin Plc CEO Ian Farmer as Non-Executive Chairman as it continues development of its portfolio of potash projects in Germany.
Mr Farmer’s appointment as Davenport’s Non-Executive Chairman is part of a Board restructure to increase its effectiveness in progressing the development of its potash projects while addressing the cost base of the Company.
Dr. Reinout Koopmans, who has been Davenport’s Interim Chairman since May 2020, will step down with immediate effect, but will remain on the Board as a Non-executive Director.
Mr Farmer is a UK based, highly experienced mining executive. He served as Chief Executive Officer of Lonmin, the third largest platinum miner globally, between 2008 and 2012, where he oversaw a period of significant transformation, both operationally and financially.
During his 26 years at Lonmin and its parent company Lonrho, Mr Farmer held various other financial and strategic positions, including Chief Strategy Officer from 2006-2008. Mr Farmer led the acquisition of various junior mining projects and integrated them into the group. He has been a Non-Executive Director of The Royal Marsden NHS Foundation Trust in the UK since 2014, and previously was a Non-Executive Director of VTTI Energy Partners LP (2014 -2017).
“We are very excited to have a candidate of Ian’s calibre appointed as our Non-Executive Chairman,” Dr Koopmans, said. “Ian has tremendous experience in mining. His background in financial management, corporate development, marketing and strategy will be of great value to Davenport. Having completed the scoping studies for what is Western Europe’s largest potash inventory, we are excited to move towards the next phase under Ian’s lead.”
Mr Farmer said, “I am thrilled to be returning to the resources sector with Davenport. The company has attractive assets that are favourably located, and in a commodity with solid future prospects. I look forward to working with the Davenport team in unlocking the considerable potential of the company’s assets.”