Deep Yellow appoints ex-Rössing boss
14 May 2021 | Business
The Australia-based company - listed on the Development Capital Board (DevX) of the Namibian Stock Exchange (NSX) – on Tuesday said the “reshaping and strengthening of the board come at a critical time for Deep Yellow, as the company embarks on the next phase of its dual-pillar growth strategy to establish a multiplatform, 5-10Mlb per annum, low-cost, tier-one uranium producer”.
Deep Yellow’s portfolio in Namibia consists of the Reptile project, the Nova joint venture and the Yellow Dune joint venture. It holds a 100%-interest in Reptile and 65%-stake in Nova, a joint venture with JOGMEC, a Japanese government agency. Deep Yellow’s interest in Yellow Dune is 85%.
“Deep Yellow is in its strongest position ever as a company, underpinned by an exciting and advanced project portfolio and a strong cash balance,” the company’s managing director and CEO, John Borshoff, said Tuesday in a statement on the Australian Stock Exchange (ASX) and NSX.
Commenting on Salisbury’s appointment, he said: “To attract someone of Chris’ calibre is a strong reflection of where we are heading as a company and the progress of our strategy over the past 12 months. Chris brings a level of global experience to our board that is highly valuable, highlighted by his extensive experience running world-class uranium operations in both Australia and Namibia.”
Salisbury, a metallurgical engineer with more than 30 years of mining, strategy and operational experience across a diverse range of commodities, was the managing director and head of country for Rio Tinto’s Rössing mine from 2011 to 2013. During this time, he “introduced positive change in a difficult period for the uranium industry”.
Rio Tinto in 2019 sold its 68.62%-stake in Rössing Uranium to Chinese National Nuclear Corporation (CNNC).
From 2016 to 2020 Salisbury’s was chief executive: iron ore for Rio Tinto.
Commenting on his new role at Deep Yellow, Salisbury said: “Uranium is starting to gain the attention it deserves and will play a key role in the global transition to clean energy.”