NEW YORK Avanti Mining Inc. has named Mark Premo president and chief executive officer, taking over from Craig Nelsen effective Oct. 1.
Premo had served as chief operating officer at the molybdenum mining company since June 2012, having previously served as president of Englewood, Colo.-based Chevron Mining Inc., which owns and operates the Questa molybdenum mine in New Mexico.
Nelsen will assume the role of executive chairman as part of the companys management succession plan, which includes searching for a new chief financial officer to replace AJ Ali.
"The board recognizes AJs unique skill set in project finance and his primary mandate will be executing the companys financing strategy," the Vancouver, British Columbia-based company said.
"Both AJ and myself, as founders and significant shareholders in Avanti, are committed to the transition of the companys management team in preparation of commencement of development activities, and will continue to support these efforts into the foreseeable future," Nelsen said.
Avanti is developing the Kitsault molybdenum mine in northern British Columbia, and recently signed an offtake agreement with ThyssenKrupp Metallurgical Products GmbH for 50 percent of the projects total molybdenum production (amm.com, June 21).