Ivanhoe Mines Announces Results of Voting for The Election of Directors

Rhea-AI Summary

Ivanhoe Mines announced key changes to its Board of Directors during its Annual General Meeting. The company welcomed Iman Naguib as a new Independent Director, bringing over 20 years of experience in corporate finance, M&A, and asset management. Naguib, co-founder of Karnak Capital and former CFO of La Mancha Resources, has significant expertise across mining, telecoms, and financial services. William Hayden, who played a crucial role in identifying the Platreef project and Western Foreland Copper District, stepped down from the Board. The voting results showed strong shareholder support for all elected directors, with approval ratings ranging from 95.31% to 99.99%. Naguib's appointment reinforces Ivanhoe's commitment to building a diverse and experienced Board as it continues its growth in the mining industry.

Positive

• Appointment of experienced executive Iman Naguib brings valuable expertise in corporate finance, M&A, and mining sector
• Strong shareholder support demonstrated through high approval ratings for all directors (95-99%)
• Board diversity and expertise enhanced through strategic appointment

Negative

• None.

Ivanhoe Mines welcomes Iman Naguib to the Board of Directors

Vancouver, British Columbia--(Newsfile Corp. - June 19, 2025) - Ivanhoe Mines (TSX: IVN) (OTCQX: IVPAF) announced the results of voting by shareholders for the election of the Board of Directors during the company's Annual General Meeting held earlier today.

Ivanhoe Mines Founder & Executive Co-Chairman Robert Friedland and President & Chief Executive Officer Marna Cloete are also pleased to announce the appointment of Ms. Iman Naguib as an Independent Director to the company's Board of Directors, effective immediately. This appointment further strengthens Ivanhoe's commitment to building an experienced, diverse, and world-class Board as the company continues its growth as a leader in the mining industry.

Ms. Naguib is an accomplished business executive with a broad background in the global mining and resources sector, telecoms and financial services. She has significant expertise in corporate finance, restructuring, investment, and asset management, as well as mergers and acquisitions. As Co-founder and Partner at Karnak Capital, Ms. Naguib is involved in various investment initiatives. From 2012 to 2015, she served as Group Chief Financial Officer and Executive Director at La Mancha Resources, a gold mining company with operations and projects in Africa, Australia, and Argentina.

Her appointment marks another important step in Ivanhoe Mines' ongoing efforts to build a board that reflects a broader range of perspectives and backgrounds.

Mr. Friedland commented: "We are very pleased to announce Iman's appointment to the Board. Her extensive experience and proven leadership make her an invaluable addition to Ivanhoe Mines as we work to expand our operations and drive strategic growth. Building a Board that integrates diverse expertise, backgrounds, and perspectives is critical to maintaining our competitive edge and achieving sustained success."

Ms. Marna Cloete added: "We are thrilled to welcome Iman to our Board of Directors. Her extensive expertise in corporate finance, mergers and acquisitions, and strategic business development, combined with her impressive global experience across industries, will be invaluable as we continue to grow and explore new opportunities. Iman's proven ability to navigate complex financial landscapes and drive impactful results aligns perfectly with our vision for the future."

Departure of William Hayden from Board of Directors

Ivanhoe Mines also announces that Mr. William Hayden did not stand for re-election this year and is stepping down from the Board of Directors, effective today. Mr. Hayden has served as an Independent Director through a formative period in the company's history, providing invaluable counsel and perspective as Ivanhoe Mines has transformed from an ambitious explorer and developer into a world-class mining company. The Board and management wish to express their sincere gratitude for his many years of guidance, technical insight, and steadfast dedication to the company's mission.

Mr. William Hayden

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Mr. Friedland commented: "We extend our deepest gratitude to Bill Hayden for his invaluable contributions to Ivanhoe Mines. A visionary geologist with extensive experience, including time at ExxonMobil, Bill played a central role in our growth into a leading diversified metals producer.

"Bill was instrumental in identifying untapped potential in the Northern Bushveld complex in South Africa … and convincing us to chase a dream … this dream has since become our giant Platreef platinum-group metals, nickel, copper, and gold discovery, now targeting first production later this year.

"Bill's leadership and foresight also led to our search for the western extension of the Southern African Copperbelt in the Democratic Republic of Congo … resulting in the groundbreaking discovery of the Western Foreland Copper District. These efforts culminated in the development of the Kamoa-Kakula Copper Complex, as well as the discovery of the Makoko District on our majority-owned Western Foreland licenses ... heralded as the most significant greenfield copper discoveries globally in many decades.

"Bill's unparalleled industry expertise, innovative vision, and unwavering dedication have been integral to Ivanhoe Mines' success. His remarkable legacy will enduringly shape the company's future as we continue our exploration efforts at Platreef and across the Western Forelands. We wish him the very best in his next chapter."

Ivanhoe Mines welcomes Iman Naguib to Board of Directors as Independent Director

Iman Naguib is an accomplished finance executive with over 20 years of experience in corporate finance, mergers and acquisitions, restructuring, and asset management, spanning telecommunications, natural resources, and financial services across global markets. She has a strong reputation for evaluating strategic opportunities, advancing business development, and managing complex treasury functions.

Ms. Iman Naguib

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Ms. Naguib is Co-founder and Partner at Karnak Capital, where she is involved in various investment strategies across different sectors. From September 2012 to January 2015, she was Group Chief Financial Officer and Executive Director at La Mancha Resources, a gold mining company with operating mines, and exploration and development projects across Africa, Australia and Argentina.

Throughout her career, Ms. Naguib has been recognized for her leadership and impact, including being named in the Choiseul 200 Africa list of top African economic leaders under 40 in 2015. Ms. Naguib co-founded Accelero Capital in 2011, where she led key transactions including Egypt's largest M&A deal at the time - the €3.2 billion sale of Mobinil Telecom. She also served as Corporate Finance Director at Orascom Telecom and Weather Investments, overseeing complex financing and restructuring initiatives, including working on the $6.6 billion merger of Orascom with VimpelCom Ltd. Her early career includes roles at Commercial International Investment Company and Montpellier Asset Management.

Most recently, Ms. Naguib was an independent non-executive director at Centamin PLC until its acquisition by AngloGold Ashanti PLC in 2024.

Ms. Naguib holds a Master of Business Administration (MBA) from Cass Business School, London, UK, and a Bachelor of Science (BSc) from City University, Cairo, Egypt.

Voting results for election of directors

The nominees listed in the management proxy circular dated April 25, 2025, were elected as directors, as shown in the following table of results.

Director nominee	Outcome	Votes for	% for	Votes withheld	% withheld
Robert M. Friedland	Elected	1,095,678,837	97.03%	33,480,081	2.97%
Weibao (Webber) Hao	Elected	1,076,226,099	95.31%	52,932,819	4.69%
Tadeu Carneiro	Elected	1,097,075,939	97.16%	32,082,979	2.84%
Martie Janse van Rensburg	Elected	1,122,814,053	99.44%	6,344,866	0.56%
Manfu Ma	Elected	1,109,562,564	98.26%	19,596,355	1.74%
Peter G. Meredith	Elected	1,090,070,371	96.54%	39,088,548	3.46%
Phumzile Mlambo-Ngcuka	Elected	1,092,987,576	96.80%	36,171,342	3.20%
Kgalema P. Motlanthe	Elected	1,120,353,121	99.22%	8,805,798	0.78%
Iman Naguib	Elected	1,129,014,581	99.99%	144,338	0.01%
Delphine Traoré	Elected	1,096,423,554	97.10%	32,735,364	2.90%
Chun (James) Wang	Elected	1,111,027,626	98.39%	18,131,293	1.61%

 

Details of votes on all matters of business considered at the Annual General Meeting are available in the company's report of voting results on SEDAR+ (https://www.sedarplus.ca/).

About Ivanhoe Mines

Ivanhoe Mines is a Canadian mining company focused on advancing its three principal projects in Southern Africa; the expansion of the Kamoa-Kakula Copper Complex in the DRC, the ramp-up of the ultra-high-grade Kipushi zinc-copper-germanium-silver mine, also in the DRC; and the phased development of the tier-one Platreef platinum-palladium-nickel-rhodium-gold-copper Mine in South Africa.

Ivanhoe Mines is exploring for copper in its highly prospective, 54-100% owned exploration licences in the Western Forelands, covering an area over six times larger than the adjacent Kamoa-Kakula Copper Complex, including the high-grade discoveries in the Makoko District. Ivanhoe is also exploring for new sedimentary copper discoveries in new horizons including Angola, Kazakhstan, and Zambia.

Information contacts

Vancouver: Matthew Keevil +1.604. 558.1034 London: Tommy Horton +44 7866 913 207

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/256161

FAQ

Who is Iman Naguib and what is her role at Ivanhoe Mines (IVPAF)?

Iman Naguib is the newly appointed Independent Director at Ivanhoe Mines, bringing over 20 years of experience in corporate finance, M&A, and asset management. She is Co-founder of Karnak Capital and former CFO of La Mancha Resources.

What were the voting results for Ivanhoe Mines' Board of Directors election in 2025?

All directors received strong shareholder support with approval ratings between 95.31% and 99.99%. Iman Naguib received the highest approval at 99.99%, while Weibao Hao received 95.31%.

Why did William Hayden leave Ivanhoe Mines' Board of Directors?

William Hayden chose not to stand for re-election and stepped down from the Board. He was credited for identifying the Platreef project and Western Foreland Copper District during his tenure.

How does Iman Naguib's appointment align with Ivanhoe Mines' strategy?

Her appointment aligns with Ivanhoe's strategy to build a diverse, experienced Board, bringing valuable expertise in corporate finance, M&A, and global mining sector experience to support the company's growth objectives.