Currently CEO of Toronto-based Triple Flag Precious Metals
The board of the Rio de Janeiro-based company chose Usmar to head Vale Base Metals, said the people, who asked not to be identified because the information isn’t public. The appointment has yet to be confirmed and it’s possible things could change, one of the people said.
Vale Base Metals has been without a CEO since March, when Deshnee Naidoo stepped down. Since then, the division has been led by former Anglo American boss Mark Cutifani, who was recruited last year as chairman of the unit. Cutifani unveiled a plan last month that includes billions of dollars in initiatives to boost productivity and reduce costs in nickel and copper mines and processing plants in Brazil and Canada.
Vale declined to comment. Usmar and Triple Flag didn’t immediately respond to messages seeking comment.
—With assistance from William Clowes.