Mark Farren to retire as Kamoa Copper’s CEO

Mr. Friedland and Mr. Sun also announced that Mark Farren, Kamoa Copper’s Chief Executive Officer, will retire from his position at Kamoa Copper following the commissioning of the Phase 2 expansion project. Kamoa Copper has initiated a search for Mr. Farren’s replacement, and Mr. Farren will help support a smooth and seamless transition.

Mr. Farren first joined Ivanhoe Mines in June 2014 as Executive Vice President, Operations, before his appointment as Chief Executive Officer of Kamoa Copper in October 2019. During his time as Kamoa Copper’s CEO, Mr. Farren oversaw the construction, commissioning and operation of the Phase 1 mine and concentrator at Kamoa-Kakula, as well as the project’s Phase 2 and 3 expansions.

“Mark has accomplished a great deal during his time with Ivanhoe Mines and Kamoa Copper, including delivering the Phase 1 project on budget and ahead of schedule in an unprecedented macroeconomic environment. Under his watch, the Phase 1 ramp-up was exceptionally smooth, and the Phase 2 expansion project is running ahead of schedule. Before he leaves, he will have successfully overseen the development of the Kamoa-Kakula complex into one of the ten largest copper producers on the planet,” said Mr. Friedland.

“From all of us at Ivanhoe Mines, together with our partner Zijin Mining, we owe Mark a debt of gratitude for his efforts. We wish him all the best in his well-deserved retirement, in which he plans to spend more time fishing.

“It is a well-known adage that time spent fishing is not deducted from one’s lifespan; as such, when Mark gets bored catching fish, we will gladly welcome him back in a senior role with any of the Ivanhoe group of companies.”

Yufeng “Miles” Sun added: “Kamoa-Kakula has become an industry benchmark under Mark’s leadership, especially given the challenges posed by the COVID-19 pandemic. I salute Mark’s significant contributions and wish him continuous success.”

Jinghe Chen, Chairman of Zijin Mining, said: “Zijin Mining sincerely appreciates Mark’s diligent work and his magnificent achievements in transforming Kamoa-Kakula into one of the world’s top copper producers. I wish Mark and his family all the best in his retirement.”

Ben Munanga, Chairman of the Board of Directors of Kamoa Copper, also commented: “Kamoa Copper’s outstanding success to date is a product of the culture and values promoted throughout the organization under Mark’s guidance. Mark has been instrumental in developing strong managerial talent at Kamoa Copper, and we are confident that his legacy will continue for many years to come.”

Mr. Farren commented: “I have had a long-term goal to retire while I am healthy and able to pursue my hobbies and new adventures. Working with the Ivanhoe Mines and Kamoa Copper teams over the last decade exceeded my expectations and I could not have asked for better co-workers or a more supportive ownership and Board of Directors.

“I am incredibly proud of playing a part in Kamoa-Kakula’s success, and I’m convinced that the best is still to come. I will continue to work with my successor and the rest of the team to ensure the smooth commissioning of the Phase 2 expansion.”