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General Assembly Adopts Restructuring Proposal

At the General Assembly, held in Cancun earlier this month, members unanimously adopted the new Restructuring Proposal for the Institute.

The new structure introduces a number of important changes to the way the IMnI functions, both on the executive and managerial levels. It aims to streamline governance, ensure overall member representation and better equip us to face and respond to upcoming challenges.

Changes include:

The “Board” becomes the “Supervisory Board” (SB) with an increased number of seats, growing from 11 to 15, so as to appropriately represent the full breadth and width of the industry. The four standing members are: the Chair, the Vice-Chair, the Treasurer and the Executive Director – these last two were not on the previous Board. The Supervisory Board is mandated by the General Assembly to set and oversee the execution of the strategic direction of the Institute. It includes both Ordinary and Affiliate Members and will meet twice a year.

The Executive Board (EB) enlarges the present Executive Committee (ExCo) to create a small and execution-focused subset of the SB, mandated to “manage and supervise” the affairs of the Institute. There are 7 members in total: the Chair, Vice-Chair, Treasurer, Executive Director and the Chairs of the Statistics, OHES and Marketing & Communications Committees. It will meet four times a year.

Affiliate Members are granted the same rights and responsibilities as Ordinary Members in terms of voting rights and the right to hold executive office.

Voting Rights are based on a member company’s size and are calculated as follows:

Ordinary Members whose production is equal or above 800Kt/y   = 3 votes

Ordinary Members whose production is under 800Kt/y                = 2 votes

Affiliate Members & EPD Members                                             = 1 vote

Some title changes for IMnI Staff, notably:

The Secretary General becomes the Executive Director

The Market Analyst becomes the Market Research Manager

The General Assembly renewed its confidence in the present Chairman and Board members for one year, who now joined the new Supervisory Board. Three companies were put up for the two new Supervisory Board seats: Chinese EMM producer CITIC Dameng, Indian ore producer MOIL and UK commodity trading house Ronly Limited. All three companies are long-standing IMnI members, active on committees and will be represented by their most senior executive. The election will take place by a round-robin e-mail vote to begin next week. With the exception of the 2 newly-elected members, the Treasurer and the Executive Director, the current 11 members of the Supervisory Board will all be up for re-election at next year’s General Assembly.

The list of the Supervisory Board members will be published once the election is concluded.

Other news about IMnI Annual Conference in Cancun will appear in the next edition.

 
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