Kennedy Ventures appoints mining veteran as CEO

9th Jan 2017 13:05

(ShareCast News) - AIM-listed Kennedy Ventures appointed mining veteran Larry F. Johnson as a director and chief executive of the investment firm.The company, which through its stake in African Tantalum has an interest in Namibia's Tantalite Valley mine, selected Johnson, who has more than 25 years experience in the tantalum industry, after Perter Hibberd stepped down after two years in order to "pursue other business interest".Johnson was recently director of mining and global tantalum supply chain at Kemet Electronics Corp and has several years experience in the development of conflict-free global supply chains, which will be benefit African Tantalum.He will be based in Windhoek, Namibia, where he will seek further investment opportunities and manage the company's interest in African Tantalum.Chairman Giles Clarke, said: "Larry's global experience in handling supply chains of conflict-free tantalum will provide the company, and its investee African Tantalum, with significant experience as African Tantalum seeks access to invaluable routes to revenue and Kennedy Ventures seeks further investments in the tantalite space. This will be of material benefit to African Tantalum following the TVM plant expansion, as ramp up concludes and it sees an increase in production of high grade tantalite"Johnson added: "The recent investment we made in African Tantalum has allowed it to expand and update the plant at the TVM, as well as open the orebody, providing for increased throughput and output. I look forward to seeking additional investment opportunities to drive the company and its investees forward in its next phase."Shares in Kennedy Ventures were up 1.25% to 8.10p at 1304 GMT.