#Canada #Toronto #Vale Base Metals #Mark Cutifani #Gustavo Pimenta

Vale Base Metals Announces Leadership Change

Vale Base Metals (VBM) recently declared a significant change in its Board of Directors. Mark Cutifani will step down as Chairman of Vale Base Metals Limited to shift his focus to new professional ventures. As the founding chairman of VBM, Cutifani was instrumental in the company’s successful spin-off from Vale S.A. His strategic insights and extensive industry experience played a pivotal role in VBM’s early success post-spin-off, paving the way for future growth and sustainable value creation.

In his tenure, Cutifani was fundamental in developing a strategic roadmap for VBM, optimizing the company’s portfolio, and establishing a robust leadership team. Furthermore, he played a crucial role in solidifying VBM's strategic partnership with Manara Minerals in July 2023.

Taking over the chairmanship will be Gustavo Pimenta, the CEO of Vale S.A., VBM's parent company. Pimenta’s appointment, being a current member of VBM’s Board of Directors, aims to deliver strong continuity in leadership while aligning VBM with Vale S.A.'s broader strategic objectives concerning transition metals.

Cutifani expressed gratitude for the trust placed in him throughout this transformational journey and acknowledged the efforts of Shaun Usmar, VBM’s CEO, and the Base Metals team for their commitment toward building an exciting future. He looks forward to maintaining a close relationship with the team as the technical work progresses following the asset review.

Shaun Usmar, VBM’s CEO, praised Cutifani for his guidance, support, and mentorship during his time as Chairman. He credited Cutifani’s principled approach, deep industrial knowledge, and extensive networks as invaluable assets that shaped the changes underway at VBM. Usmar wishes Cutifani all the best in his future endeavors and expresses gratitude on behalf of the entire VBM team. The leadership transition is expected to take place in July.

About Vale Base Metals

Vale Base Metals, a division of Vale S.A. focusing on energy and transition metals, stands among the world's largest producers of high-quality nickel and is also a significant producer of responsibly sourced copper and cobalt. Headquartered in Toronto, Canada, VBM operates offices in Newfoundland and Labrador, Ontario, Manitoba, Indonesia, Brazil, the UK, and Japan.