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Vale (NYSE:VALE) has selected veteran mining executive Shaun Usmar to take the helm of its base metals division, Bloomberg reported Wednesday.
Usmar would bring more than 30 years of industry experience to the position, with his latest role as founder and CEO of streaming company Triple Flag Precious Metals, after previously working at Barrick Gold, where he was CFO during 2014-16.
Vale (VALE) separated the Vale base Metals 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 Base Metals has been without a CEO since March, when Deshnee Naidoo stepped down, and has since been led by former Anglo American boss Mark Cutifani, who was recruited last year as chairman of the unit.