(Bloomberg) -- Vale SA has appointed veteran mining executive Shaun Usmar to take the helm of its base metals division, as the Brazilian miner seeks to boost copper and nickel production.
Usmar has more than 30 years of industry experience, with his latest role as founder and chief executive officer of Triple Flag Precious Metals Corp., a Toronto-based streaming company. He previously worked at Barrick Gold Corp., where he was chief financial officer between 2014 to 2016, and also held roles at Xstrata Plc and BHP Billiton.
At Vale Base Metals, he will oversee an operation with assets in Canada, Brazil and Indonesia. Vale separated the nickel-and-copper division from its iron ore operations last year and sold a 10% stake to Saudi Arabia as part of a plan to unlock value from the unit. Vale said Tuesday that the new CEO will be based in Toronto.
Bloomberg reported earlier this month that Vale had selected Usmar to head the unit.
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