28 September 2011; Windhoek, Namibia. Craton Mining and Exploration officially launched the Craton Foundation today at Olof Palme School in Katutura, Windhoek, Namibia. The launch has been strategically timed to take place on Nambia’s ‘Day of the Child’. The launch saw a donation made to Olof Palme School by the Craton Foundation. These funds will be used to either acquire various educational and sporting materials or to build brick class rooms. The Olof Palme School has currently 2 tented classrooms which houses some of the lower primary classes.
The Craton Foundation aims to create long-lasting relationships with the communities in which Craton Mining and Exploration operates, by providing assistance for the social upliftment and educational advancement of Namibian citizens.
About Craton Mining and Exploration
Craton Mining and Exploration is the wholly-owned, Namibian-registered, operating entity of International Base Metals Limited. Craton’s exploration efforts are focused on the Omitiomire copper prospect and a portfolio of prospective exploration tenements through-out Namibia.
Barry has been working for IBML for some time and this appointment establishes a firm footing for the financial management of the business as it moves towards our proposed listing later this year.
The Company's Directors believe that Barry brings essential skills sets to IBML that are of considerable benefit to the Company and we congratulate him on the confirmation of his appointment.
Barry F. Neal Qualifications: B Econ with majors in Accounting and Economics
Experience: Barry completed his degree at Queensland University and started his career as a lecturer in accounting at the Queensland Institute of Technology. He then spent fifteen years overseas with the Australian Trade Commission in Europe and Asia. In 1980 he opened the first China office of an Australian company, in Beijing, with one of his clients being BHP. In 1989 Barry returned to Australia and to accounting. Over the last twenty years he has had extensive experience in accounting and company secretarial work with listed public companies in a range of industries including exploration.
Craton Mining and Exploration (Pty) Ltd. is IBML’s 100% subsidiary in Namibia. The Craton Trust was formed in late 2009 as a Namibian Trust for the benefit of Namibian citizens resident in Namibia. It is anticipated that the main beneficiaries will be in the field of education, from primary- to tertiary-level students, apprentices, etc.
Three Trustees, a Consultant and a Secretary have been appointed to the foundation:
Trustees
Elise Mutaleni Angula is a Director and Legal Practitioner at LorentzAngula, one of Namibia’s largest commercial law firms (http://www.lorentzangula.com). Ms Angula’s fields of expertise include civil and commercial litigation as well as property transactions.
Ms Angula received a B. Proc degree from the University of the Western Cape, South Africa. She served as President of the Law Society of Namibia in 2005 and 2006 and is a director of:
• Development Bank of Namibia
• Foschini Group of companies
• Frans Indongo Group (Pty) Ltd.
Florence Kabukabu Kamona was born in Kalabo, Western Province, Zambia and has worked as a Manager for Conference Link Namibia for the last 10 years(www.conferencelink.com.na).
Ms. Kamona was educated at the University of Zambia and the Kasiya Secretarial College, Department of Technical Education and Vocational Training.
Ms Kamona also serves as a director of:
• Eagles Pride farm, Lusaka, Zambia
• African Geo-Resources, Windhoek,
Namibia
• African Creative Events, Windhoek,
Namibia
Kobus van Graan has been Group CEO of the Frans Indongo Group of companies since 2007, based in Windhoek, Namibia. From 1999 to 2006, Mr van Graan was Managing Director of Namib Mills.
Mr van Graan received a BSc in Civil Engineering and an MBA from the University of Pretoria. He is registered as a Professional Engineer and is a Director of 14 companies and associations, including:
• Namibian Manufacturers Association
• Namibian Agronomic Board
• Consolidated Sugar Industries Namibia
• Frans Indongo Group (Pty) Ltd.
Consultant
Len le Roux has been appointed as consultant to the Foundation. Mr le Roux is Director, Partnerships, Southern Africa of The Synergos Institute (http://www.synergos.org/), with headquarters in New York, USA; Synergos was founded in 1986 to address global poverty and social injustice. Synergos’ focuses in Namibia are twofold: (a) improving the performance and capacity of the Namibian Ministry of Health’s leadership team and (b) maternal health.
Mr le Roux holds a Bachelor’s Degree in Social Science and sits on the Boards of a number of Namibian foundations.
Mr le Roux has previously served as Director of the RÖssing Foundation which was founded in 1978 as an initiative sponsored by the Rio Tinto Group.
Secretary
Sigrid (Ziggy) Hartmann was born in Namibia and has been working for Craton Mining & Exploration (Pty) Ltd for the past 3 years as Administrative Manager. Ms Hartmann holds a CIBM from Regent Business School in South Africa. Ms Hartmann has served on various fund raising committees in Swakopmund, Namibia.
The boards of both IBML and Craton Mining and Exploration (IBML’s 100% Namibian subsidiary) are very pleased to announce the appointment of Mr. Otto Nakasole Shikongo to the board of Craton. Since 1988, Mr. Shikongo has held numerous engineering related positions at NAMDEB (Namibia) and DEBSWANA (Botswana) before moving to De Beers Marine Namibia (DBMN) as Operations Manager in January 2002. He was appointed DBMN Managing Director in December 2003, the position he holds currently.
Mr. Shikongo is a registered Professional (ECSA & ECN) and Certificated Engineer (RSA). Qualifications include a Master of Engineering degree (mechanical) from the University of Southampton - UK 1988. He completed a Senior Management Development Programme with the University of Stellenbosch Business School – RSA 1996; an Executive Development Programme with Ashridge in 1999 and a Senior Executive Programme with the London Business School in October 2006.
Mr. Shikongo also serves on the boards of Kwezi V3 Engineers Namibia (Pty) Ltd, Aucor Namibia (Pty) Limited, the Namibian Stock Exchange and the Chamber of Mines of Namibia.
International Base Metals Limited (‘IBML’) has signed an agreement with Antofagasta Minerals S.A. (‘Antofagasta Minerals’) over its Kopermyn tenement in northern Namibia.
The agreement envisages Antofagasta Minerals funding a 2 year exploration programme - to spend no less than US$ 500,000 on or before the first anniversary, with the right to withdraw, and a further US$ 1,300,000 before the second anniversary - in exchange for a 60% interest in the tenement.
Kopermyn represents an initial 50 million tonnes at 1% stratabound copper target but the tenement covers a complete geological inlier with over 40 km of strike potential
Antofagasta Minerals is a wholly owned subsidiary of Antofagasta plc, with interests in mining, transportation and water distribution, which is listed on the London Stock Exchange and is a constituent of the FTSE-100 index
During 2009, its Chilean mining operations (comprising the Los Pelambres, El Tesoro and Michilla mines) are expected to produce approximately 447,000 tonnes of copper metal in concentrate and cathode and 7,200 tonnes of molybdenum in concentrate
Antofagasta Minerals is currently carrying out a brownfield mine expansion at Los Pelambres and is also developing the greenfield Esperanza project in Chile. These projects, when operational, will increase total Group copper metal production to approximately 700,000 tonnes of copper per year by 2011
Antofagasta Minerals also has projects at an exploration or feasibility level in Latin America, Asia, Europe and Africa; although this is its first venture in Namibia
The boards of both IBML and Craton Mining and Exploration (IBML’s 100% Namibian subsidiary) are very pleased to announce the appointment of Mr. Otto Nakasole Shikongo to the board of Craton. Since 1988, Mr. Shikongo has held numerous engineering related positions at NAMDEB (Namibia) and DEBSWANA (Botswana) before moving to De Beers Marine Namibia (DBMN) as Operations Manager in January 2002. He was appointed DBMN Managing Director in December 2003, the position he holds currently.
