Thompson Creek announces changes to Board of Directors
Shares outstanding: 113,338,000
NYSE: TC TSX: TCM, TCM.WT Frankfurt: A6R
TORONTO, Dec. 10 /PRNewswire-FirstCall/ - Thompson Creek Metals Company
Inc., one of the world's largest publicly traded, pure molybdenum
producers, today announced changes to its Board of Directors effective
January 1, 2008, as follows:
- Kevin Loughrey, who is currently President and Chief Executive
Officer, will become Chairman of the Board of Directors and will
continue as the Chief Executive Officer of the Company.
- Ian McDonald, who is currently Executive Chairman, will step down
from his executive role but remain on the Board of Directors as
Vice-Chairman.
- Timothy Haddon, who is currently serving as an independent director,
will become Lead Director.
- Thomas J. O'Neil, an experienced mining executive, will join the
Board of Directors.
"Ian McDonald, who has repeatedly demonstrated his skill in enhancing
shareholder value, has made a tremendous contribution to the success of the
Company and we are very pleased he is staying on the Board of Directors in
an important capacity," said Mr. Loughrey.
"We are also happy that Timothy Haddon, an experienced mining
executive, has agreed to devote more time to our Company in his new role as
Lead Director, and that we have been able to obtain the services of someone
as accomplished and experienced in the mining sector as Thomas O'Neil."
Mr. O'Neil, a resident of Arizona, is currently a Director of Fording
Inc. and has served in senior executive positions at major mining companies
including Cleveland-Cliffs Inc., where he was President and Chief Operating
Officer (2000-2003), Executive Vice President Operations (1994-1999) and
Senior Vice President Technical (1991-1994).
During the period 1981 to 1985, he was Manager, New Business
Development, Amoco Metals Company, and from 1985 to 1991, he served in
senior positions with Cyprus Minerals Company, including: Copperstone
Project Manager, Cyprus Gold; Vice President, Cyprus Gold Australia; Vice
President and General Manager, Cyprus Sierrita; and Vice President,
Engineering and Development, Cyprus Copper.
Mr. O'Neil obtained a Ph.D. in Mining Engineering with a minor in
finance from the University of Arizona in 1972 and subsequently was a
Professor and Head of the university's Department of Mining and Geological
Engineering. While on the faculty of the University of Arizona, he
consulted for a wide variety of clients including industry, U.S. Government
and Indian tribes on taxation, royalties and mine evaluation.
About Thompson Creek Metals Company Inc.
Thompson Creek Metals Company Inc. (formerly Blue Pearl Mining Ltd.) is
one of the largest publicly traded, pure molybdenum producers in the world.
The Company owns the Thompson Creek open-pit molybdenum mine and mill in
Idaho, a 75% share of the Endako open-pit mine, mill and roasting facility
in northern British Columbia, and a metallurgical roasting facility in
Langeloth, Pennsylvania. Thompson Creek is also developing the Davidson
high-grade underground molybdenum project near Smithers, B.C. The Company
has more than 700 employees. Its head office is in Toronto, Ontario. It
also has executive offices in Denver, Colorado (including sales and
marketing) and Vancouver, British Columbia. More information is available
at www.thompsoncreekmetals.com.
Cautionary Note Regarding Forward-Looking Statements
----------------------------------------------------
This news release contains "forward-looking information" within the
meaning of the United States Private Securities Litigation Reform Act of
1995 and applicable Canadian securities legislation which may include, but
is not limited to, statements with respect to the timing and amount of
estimated future production. Often, but not always, forward-looking
statements can be identified by the use of words such as "plans",
"expects", "is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or variations (including negative
variations) of such words and phrases, or state that certain actions,
events or results "may", "could", "would", "might" or "will" be taken,
occur or be achieved. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual results,
performance or achievements of Thompson Creek and/or its subsidiaries to be
materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such factors
include those factors discussed in the section entitled "Risk Factors" in
Thompson Creek's annual information form for the year ended December 31,
2006 and dated March 26, 2007 which is available on SEDAR at www.sedar.com
and is incorporated in its Registration Statement on Form 40-F filed with
the United States Securities and Exchange Commission on October 30, 2007
which is available at www.sec.gov. Although Thompson Creek has attempted to
identify important factors that could cause actual actions, events or
results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or
results to differ from those anticipated, estimated or intended.
Forward-looking statements contained herein are made as of the date of this
news release and Thompson Creek does not undertake to update any such
forward-looking statements, except in accordance with applicable securities
laws. There can be no assurance that forward-looking statements will prove
to be accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers are
cautioned not to place undue reliance on forward-looking statements.
Readers should refer to Thompson Creek's annual information form for
the year ended December 31, 2006 and dated March 26, 2007 which is
available on SEDAR at www.sedar.com and is incorporated in its Registration
Statement on Form 40-F filed with the SEC on October 30, 2007 which is
available at www.sec.gov and subsequent continuous disclosure documents
available at www.sedar.com and www.sec.gov for further information on
mineral reserves and mineral resources, which is subject to the
qualifications and notes set forth therein.
SOURCE Thompson Creek Metals Company Inc.
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