Published: September 19, 2022 |

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Trevali Mining Corp. says its president and chief executive, as well as its chief operating officer, have both resigned.

The Vancouver-based miner says Ricus Grimbeek, who has served as CEO since 2019, will step away from the company. It says chief operating officer Derek du Preez will also depart effective Oct. 14.

Trevali also says the Supreme Court of British Columbia has approved the company’s application for a sales and investment solicitation process for its wholly owned Caribou Mine in New Brunswick, as well as its 90 per cent interest in the Rosh Pinah Mine in Namibia.

Trevali filed for creditor protection under the CCAA (Companies’ Creditor Protection Act) in August.

As a result, the Toronto Stock Exchange has suspended trading of Trevali’s shares. The company’s common shares will be delisted at the close of the market on Oct. 3.

Earlier this week, Trevali confirmed that two of its executives have been convicted of involuntary manslaughter in Burkina Faso in the wake of a flooding disaster at the company’s Perkoa Mine that killed eight workers.

EIGHT WORKERS KILLED

On April 16, workers were trapped more than 500 meters below the surface of the mine after heavy rain caused flash flooding.

Pumping equipment had to be imported from other countries, including Ghana and South Africa, which prompted questions about how prepared for a disaster the company was.

Perkoa mine manager Hein Frey, who is South African and worked for Trevali, received a 24-month suspended sentence.

Daryl Christensen, who is South African and a manager with Trevali’s contractor Byrnecut, received a 12-month suspended sentence.

Source: CBC

About Trevali Mining
Trevali is a global base-metals mining company headquartered in Vancouver, Canada. The bulk of Trevali’s revenue is generated from zinc and lead concentrate production at its three operational assets: the 90 percent owned Perkoa Mine in Burkina Faso, the 90 percent owned Rosh Pinah Mine in Namibia, and the wholly owned Caribou Mine in northern New Brunswick, Canada. In addition, Trevali owns the Halfmile and Stratmat Properties and the Restigouche Deposit in New Brunswick, Canada. Trevali also owns an effective 44 percent interest in the Gergarub Project in Namibia. The company’s growth strategy is focused on the exploration, development, operation, and optimization of properties within its portfolio, as well as other mineral assets it may acquire that fit its strategic criteria. Trevali’s vision is to be a responsible, top-tier operator of long-life, low-cost mines in stable pro-mining jurisdictions. Trevali is committed to socially responsible mining, working safely, ethically, and with integrity. Integrating responsible practices into its management systems, standards, and decision-making processes is essential to ensuring everyone and every community’s long-term sustainability.

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