New Millennium Iron Announces New President and CEO
12/19/2013 - New Millennium Iron Corp. (NML) announced that Mr. Robert Patzelt, Q.C., will join NML effective 13 January 2014 as president and chief executive officer and a director of the corporation.
He will be based primarily in NML’s executive office in St. John’s, Newfoundland and Labrador, and spend considerable time in the NML office in Montreal.
The corporation controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds one of the world’s largest undeveloped magnetic iron ore deposits. Tata Steel Ltd., one of the largest steel producers in the world, and the corporation are jointly making a feasibility study on the taconite project. In the same area, Tata Steel Minerals Canada Limited (TSMC), jointly owned by Tata Steel and NML, is advancing a direct shipping ore (DSO) project to the commercial production stage.
Dean Journeaux, the current president and CEO, will remain on the Board and will be appointed effective the same date as executive vice-chairman of the Board. He will assist Mr. Patzelt in the transition to his new position, as well as continue to work with the NML technical team in the furtherance of the Taconite project and support of TSMC with the DSO project.
Mr. Patzelt was previously senior vice president, corporate development of Scotia Investments Ltd. based in Halifax Nova Scotia. He has over 25 years of experience and leadership in the operations, deal making, legal, governmental affairs, governance and risk management of this large privately owned diversified industrial business, involved in both the manufacturing and natural resources (forestry) sectors. He holds a Master’s degree in law from Dalhousie University and Commerce and Arts degrees from the University of Alberta. He has established an exemplary volunteer record with both industry associations and the not for profit sector earning several prestigious awards, most recently the Queen’s Diamond Jubilee Medal.
Lee Nichols, non-executive chairman of NML, commented, “I am pleased that NML was able to recruit Robert as president and chief executive officer and I welcome him to NML. Our careful and rigorous search for a replacement for Dean Journeaux has led to Robert. He is an accomplished and successful business executive. At the same time, I want to thank Dean Journeaux for his leadership as president and CEO since July 2011. He will continue with NML in a new role as executive vice chairman of the Board. While ensuring that Robert has the support and advice to seamlessly make the transition in the shortest time, Dean will focus on leading the corporation’s effort towards development of the Taconite Project and continued monitoring of the progress of TSMC’s DSO project.”
Dean Journeaux said, “I am very pleased to have Robert join NML. As part of the Board’s selection committee, I can say that we chose Robert because he has the energy, enthusiasm, experience and leadership qualities needed to lead NML to new heights in its development. NML is fortunate in having a strong team with iron ore mining, project development, operations, marketing and technical expertise. I am confident that Robert will lead and complement this team. I am also pleased that the NML Board has asked me to continue as executive vice chairman with the objective of furthering NML’s development of the Taconite Project, focusing on the world-wide search for additional partners to complement the NML and Tata Steel teams already in place.”
New Millennium Corp. controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds one of the world’s largest undeveloped magnetic iron ore deposits. In the same area, the corporation and Tata Steel Ltd., one of the largest steel producers in the world, have advanced a direct shipping ore project to the production stage, from which commercial sales will soon begin. Tata Steel owns approximately 26.3% of New Millennium and is the corporation’s largest shareholder and strategic partner.
The corporation controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds one of the world’s largest undeveloped magnetic iron ore deposits. Tata Steel Ltd., one of the largest steel producers in the world, and the corporation are jointly making a feasibility study on the taconite project. In the same area, Tata Steel Minerals Canada Limited (TSMC), jointly owned by Tata Steel and NML, is advancing a direct shipping ore (DSO) project to the commercial production stage.
Dean Journeaux, the current president and CEO, will remain on the Board and will be appointed effective the same date as executive vice-chairman of the Board. He will assist Mr. Patzelt in the transition to his new position, as well as continue to work with the NML technical team in the furtherance of the Taconite project and support of TSMC with the DSO project.
Mr. Patzelt was previously senior vice president, corporate development of Scotia Investments Ltd. based in Halifax Nova Scotia. He has over 25 years of experience and leadership in the operations, deal making, legal, governmental affairs, governance and risk management of this large privately owned diversified industrial business, involved in both the manufacturing and natural resources (forestry) sectors. He holds a Master’s degree in law from Dalhousie University and Commerce and Arts degrees from the University of Alberta. He has established an exemplary volunteer record with both industry associations and the not for profit sector earning several prestigious awards, most recently the Queen’s Diamond Jubilee Medal.
Lee Nichols, non-executive chairman of NML, commented, “I am pleased that NML was able to recruit Robert as president and chief executive officer and I welcome him to NML. Our careful and rigorous search for a replacement for Dean Journeaux has led to Robert. He is an accomplished and successful business executive. At the same time, I want to thank Dean Journeaux for his leadership as president and CEO since July 2011. He will continue with NML in a new role as executive vice chairman of the Board. While ensuring that Robert has the support and advice to seamlessly make the transition in the shortest time, Dean will focus on leading the corporation’s effort towards development of the Taconite Project and continued monitoring of the progress of TSMC’s DSO project.”
Dean Journeaux said, “I am very pleased to have Robert join NML. As part of the Board’s selection committee, I can say that we chose Robert because he has the energy, enthusiasm, experience and leadership qualities needed to lead NML to new heights in its development. NML is fortunate in having a strong team with iron ore mining, project development, operations, marketing and technical expertise. I am confident that Robert will lead and complement this team. I am also pleased that the NML Board has asked me to continue as executive vice chairman with the objective of furthering NML’s development of the Taconite Project, focusing on the world-wide search for additional partners to complement the NML and Tata Steel teams already in place.”
New Millennium Corp. controls the emerging Millennium Iron Range, located in the Province of Newfoundland and Labrador and in the Province of Quebec, which holds one of the world’s largest undeveloped magnetic iron ore deposits. In the same area, the corporation and Tata Steel Ltd., one of the largest steel producers in the world, have advanced a direct shipping ore project to the production stage, from which commercial sales will soon begin. Tata Steel owns approximately 26.3% of New Millennium and is the corporation’s largest shareholder and strategic partner.
