What’s old is new again at Alderon Iron Ore Corp. as former president and CEO Tayfun Eldem was reappointed to the position on Tuesday.
Eldem held the role from September 2011 to August 2015, during which time he helped further develop the Kami Project in Labrador West.
In a press release, Eldem stated that he was excited to rejoin the company and continue with the Kami project.
“Kami will bring jobs to and grow the economies of Newfoundland and Labrador and Quebec by producing a high-quality iron ore in (NL) and shipping it through the Port of Sept-Îles in Quebec.
“With the technical reports fully updated and showing strong fundamentals, now is the ideal time to progress the Kami Project toward production.”
Eldem will step into the role as of Feb. 5, replacing Alderon founder and current chairman and CEO Mark Morabito, who will remain involved as a non-executive chairman of the board of directors, focusing on the company’s capital market program and strategic initiatives.
The Kami project is expected to provide over 32,000 person-years of employment during construction and operation and $2.2 billion in incomes to workers and local businesses.