Nov 11, 2010
Scorpio Mining Names Parviz Farsangi CEO as Peter Hawley Retires
Vancouver, November 11, 2010 - Scorpio Mining Corporation (TSX: SPM) ("Scorpio Mining" or the "Corporation") is pleased to announce that Parviz Farsangi will replace retiring Chief Executive Officer Peter J. Hawley, effective as of November 15, 2010. Peter J. Hawley, former Chairman, will continue to serve Scorpio Mining as a director and will assume the role of non-executive Chairman effective January 1, 2011 in place of Ewan Mason, who will continue as a director after such time.
"The board was determined to find an experienced executive with a broad mining industry background and a person with a distinguished domestic and international career," said Ewan Mason, Chairman.
"Personal considerations make this the right time for me to step aside as CEO," said Mr. Hawley. "A successor of the caliber and strength of Mr. Farsangi and Scorpio Mining's other leadership has made my decision easier. I am pleased that the board's succession plan has produced a smooth, seamless leadership transition and that it has selected Mr. Farsangi to succeed me. Scorpio Mining's employees and shareholders will benefit from his leadership and industry experience in the next phase of the Corporation's growth." he added.
Mr. Farsangi has an extensive operations background and knowledge of the mining industry, with a history of employee and community engagement. Most recently he was Executive Vice-President and Chief Operating Officer of Vale (formerly, Vale Inco Limited) with the responsibility for leading the operations of Vale's wholly-owned subsidiaries.
Prior to joining Vale, Mr. Farsangi had a long career with Falconbridge Limited starting at Falconbridge's Kidd Creek Mine in 1987 and rising to General Manager of the Falconbridge Sudbury Mines/Mill Business Unit in 2002. Subsequently he was President, Gramercy Alumina in Louisiana and St. Ann Bauxite in Jamaica for Falconbridge.
Mr. Farsangi is a graduate of Laurentian University in Sudbury, Ontario in 1985 with a B.Eng. in Mining Engineering. He received his M.Eng. in Rock Mechanics from McGill University in Montreal, Quebec in 1987 and went on to receive a Ph.D. in Mining Engineering from McGill in 1996. He also earned an M.B.A. from Queen's University Business School in 1998.
He is a member of the Association of Professional Engineers of Ontario, the Canadian Institute of Mining & Metallurgy, the Transition Board of Canadian Mining Innovation Council, past member of the Executive Committee and Board of Directors of the Mining Association of Canada, past Chairman of the Mine Managers Committee of the Ontario Mining Association and a past member of the Mining Legislative Review Committee.
For further information contact:
Ewan Mason, Chairman at (416) 627-7833