Ralph Havenstein, CEO designate Norilsk Nickel Intl.
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Norilsk appoints ex-Anglo Platinum CEO
Allan Seccombe
Posted: Tue, 24 Jun 2008

[miningmx.com] -- NORILSK Nickel, the world's largest nickel producer, has appointed former Anglo Platinum CEO Ralph Havenstein as chief executive of its international operations, raising speculation that the company could be looking to enter the South African platinum sector.

"As head of Norilsk Nickel International, Ralph will have overall responsibility for the group’s operations and development projects in Finland, South Africa, Botswana and Australia," Norilsk said in a statement.

He replaces Peter Breese, the former CEO of LionOre, which developed a nickel project in Botswana and was 50% partner with African Rainbow Minerals at the Nkomati nickel project in South Africa. Breese is leaving to head up a Canadian mining company called GBS Gold, with operations in Australia.

Havenstein had a relatively short spell as the CEO of the world's largest platinum group, Anglo Platinum, between 2003 and August 2007 when he surprised investors with his resignation.

His departure was one of the first major casualties under the new leadership of Cynthia Carrol at Anglo American, which owns 78% of Anglo Platinum. His leaving was related to the poor safety performance at the platinum company.

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Analysts said the appointment of a South African to such a senior job within Norilsk might indicate greater interest in the world's largest platinum province.

"What's interesting is that they've put a South African platinum guy in charge. It may well imply they want to use his knowledge of the South African base to maybe come in to that base," said Leon Esterhuizen, a precious metals analyst with the Royal Bank of Canada.

"I don't think Ralph did too badly at Anglo Platinum. He probably did a lot better than some of the people before him in that position."

Havenstein will be based in Johannesburg and his appointment to Norilsk is effective from the start of September.

"The international operations are already a sizeable nickel business in their own right and I believe there is further potential to unlock additional value through strategic growth and development opportunities," he said in a statement.