The Gods have listened... First good news in a long time. Maybe the first step in turning this outfit around. He will be more than a board member in due course. I say it the way it is. A spade is a spade.
Mr. Simkus joined Corriente in February 2004 to guide the process of completing the feasibility study at the Mirador Copper-Gold Project in southeast Ecuador and to facilitate the construction and operation of a 25,000 tonne per day plant at the site.
Prior to joining Corriente, Mr. Simkus was the President and CEO of Compania Minera Antamina S.A. in Peru and oversaw the commissioning of the Antamina deposit and the successful transition of the largest copper mining construction project in recent history (approximately $US 2.2 Billion) from a project to a sustainable mining operation. Responsibility to transform the Antamina Mine from a project to a sustainable operation required that the Finance, Logistics, Marketing, Occupational Health and Safety, Corporate Affairs and Community Relations/Community Development areas all be made directly accountable to him. The Antamina project financing included the most complicated and onerous Completion Test ever conceived. The Completion Test was made-up of 7 individual certificates which had to be obtained by February 2004 or US$1.3 billion in loans would fall into default. All seven certificates were delivered by June 30, 2003. Additionally, the Production Certificate required that 28 mining/metallurgical parameters be satisfied simultaneously over a 90 consecutive day period, which was achieved in August 2002. Further, the Environment Certificate required full compliance with World Bank guidelines covering over 200 environmental and legal permits. The duty to meet full compliance with World Bank Social Responsibility guidelines for the relocation and oversight of displaced indigenous people was achieved on June 30th, 2003.
Before joining Antamina, Mr. Simkus was President and General Manager of Highland Valley Copper, where he was responsible for the Highland Valley Partnership including Finance, Sales and Marketing and a workforce in January 1999 of 1,048 employees with an annual budget of $224 MM.