Kenmare Resources PLC - Mozambique-focused mining company - Finance Director Tom Hickey is named as its new managing director, with effect from Thursday. Current MD Michael Carvill will step down on Wednesday after 38 years in post. Hickey joined the firm as finance director in September 2022. He previously served as chief financial officer of Tullow Oil PLC from 2000 to 2008. Chair Andrew Webb says Hickey’s ‘financial acumen, capital markets experience and knowledge of Kenmare’s business [make] him uniquely qualified to lead the company at this important time’.
Hickey comments that he is ‘delighted to be given the opportunity to lead Kenmare during this exciting phase in its development’, adding: ‘We are undertaking one of the largest capital projects in the company’s history through the upgrade and transition of Wet Concentrator Plant A, which will allow us to secure production from Moma for decades to come and maintain our first quartile position on the industry revenue to cost curve.’
Kenmare says it will start to look for a new CFO.
Current stock price: 336.50 pence, up 0.8% on Tuesday afternoon in London
12-month change: down 20%
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