Erdene’s Board of Directors have extensive experience in the mining and financial industries. They provide a strong base for the strategic management in the company.

The Board is comprised of seven directors, six of whom are “independent” within the meaning of applicable securities legislation. An independent director is defined to be a director who has no direct or indirect relationship with Erdene which could, in the view of the Board, be reasonably expected to interfere with the exercise of a member’s independent judgement. The proposed 2018 Board will be comprised of the following seven Directors;

Peter C. Akerley, President, Chief Executive Officer and Director

Peter C. Akerley

Peter C. Akerley is one of the founders and principals of the Erdene group of companies and has held the position of President and Chief Executive Officer and Director of Erdene Resource Development Corp. (TSX listed) since March 2003.

He has over 30 years of experience in mineral exploration, corporate financing, project development and management of publicly listed resource companies. Mr. Akerley is a geologist who has worked extensively in foreign jurisdictions throughout his career, predominately in North and South America and Asia, with a focus on Mongolia over the past 20 years. Mr. Akerley has a BSc (1988) from Saint Mary’s University in Halifax, specializing in geology. 

Member of Pre-Clearance and Technical Committees.

J.C. (Chris) Cowan, Chairman of the Board

J.C. (Chris) Cowan

J. C. (Chris) Cowan was appointed Chairman of the Board in June 2015. Mr. Cowan was formally Vice President Asia and served as Co- Managing Director of Erdene Mongol XXK, a wholly owned Mongolian subsidiary. He has been a director of the company from February 2003. Mr. Cowan has acted as a minerals consultant, providing services to exploration and mining companies world-wide since 1990. He previously spent 28 years with Falconbridge Limited in a variety of senior management and board positions including President and Director of New Pascalis Mines Ltd. from 1984 to 1990; Vice-President and Director of New Quebec Raglan Mines Ltd., between 1981 and 1990; Chairman of the Board of Indusmin Ltd., from 1984 to 1990; President, Chief Executive Officer and a director of United Keno Hill Mines Ltd., between 1981 and 1990; and President of Wesfrob Mining Division, from 1981 to 1983. Mr. Cowan has also been responsible for the technical direction of Falconbridge’s worldwide surface and mining exploration as well as exploration manager in Southeast Asia and Chief Geologist for Sudbury Operations. Mr. Cowan, holds a Masters of Science degree (Geology), and is a member of the Professional Engineer Society of Ontario. He has over 50 years of experience in the mining industry.

Member of Pre-Clearance and Technical Committees

Dr. Anna G. Biolik, Director

Dr. Anna G. Biolik

Dr. Biolik has over 30 years of public and private sector experience and is one of the foremost Canadian experts on Central Asian business and diplomacy. From 2010 to 2012, Dr. Biolik occupied the position of Regional Director, Pacific Region, Foreign Affairs and International Trade Canada. In 2012, Dr. Biolik retired from the federal public service. Since 2014, she has been working as independent consultant and Vice-President and Chief Executive Officer of Allam Advisory Group, a global business strategy and commercial diplomacy consulting firm. She was Canada’s first resident Ambassador in Mongolia where she opened a full-fledged Canadian Embassy in 2008. Dr. Biolik previously served as Ambassador of Canada to Kazakhstan, Kyrgyzstan and Tajikistan as well as Consul General of Canada in St. Petersburg, Russian Federation. She also served as Senior Advisor for international relations and parliamentary affairs to the Governor General of Canada and as European Marketing Manager for Canada Post, Senior Manager at Investment Partnerships Canada and Director of the International Business Opportunities Centre. Dr. Biolik has extensive expertise in international commerce and has worked closely with Canadian companies in emerging markets. Dr. Biolik currently serves as external member of the Program and Research Council at Royal Roads University in Victoria, BC and as Canadian Board Director to the North America-Mongolia Business Council. Dr. Biolik is also a member of the Institute of Public Administration of Canada. She holds a Ph.D. from the University of Montreal and is fluent in English, French, Russian and Polish.

Member of the Audit and Corporate Governance and Disclosure Policy Committees.

John P. Byrne, Director

John Byrne has been a director since August 2004. Mr. Byrne is President of Petroleum Corporation of Canada Exploration Limited (“Petrex”) since 1997 and brings more than 30 years of investment banking and corporate finance experience to Erdene. Pretrex helped establish and finance Enerplus Energy Services Ltd. For which Mr. Byrne served as its Vice Chairman (1986-2000). Mr. Byrne has also served in senior executive roles with Levesque Beaubien Geoffrion Inc. (now National Bank Financial), A.E. Ames & Company/Dominion Securities Ames and The First Boston Corporation. Mr. Byrne holds a B.A. from McGill University and an LL.B from the University of Toronto Law School. He is also a Chartered Financial Analyst.

Member of the Audit and Governance and Disclosure Policy Committees

T. Layton Croft, Director

T. Layton Croft

Layton Croft was appointed director of the Board in June 2015. Mr. Croft is a corporate executive with more than 25 years of diversified management and resource industry experience, including deep Mongolia expertise. Mr. Croft is President and CEO of Pancontinental Gold Corporation (TSX-V:PUC), a battery metals and gold exploration company with projects in Canada and the United States. Mr. Croft’s Mongolia experience has included roles as Country Representative for The Asia Foundation, Executive Vice President for Oyu Tolgoi, and Vice President for Peabody Energy. Mr. Croft is a founding director of the Business Council of Mongolia, a lifetime honorary director of the Mongolian National Mining Association, and a founding director of the American University of Mongolia. Currently based in the United States, Mr. Croft has lived and worked in Mongolia, Hong Kong, Singapore, South Korea and Indonesia. He has worked for Rio Tinto, Ivanhoe Mines, Duke Energy and Atrium Health. Mr. Croft holds degrees from the University of North Carolina at Chapel Hill, the School for International Training in Vermont, and the Fletcher School of Law and Diplomacy at Tufts University in Massachusetts.

Member of the Audit and Corporate Governance and Disclosure Policy Committees.

Cameron McRae, Director

Cameron McRae

Cameron McRae was appointed director of the Board in March 2018. Mr. McRae is a seasoned CEO, having led mining organizations through the full mining development cycle in four countries and across three continents. Cameron served a 28-year career with Rio Tinto, and in Mongolia was President of Oyu Tolgoi LLC and Rio Tinto’s country director for Mongolia. In that role he led the construction and start-up of the US$6 billion Oyu Tolgoi copper-gold mine, ahead of schedule, which at peak of construction had over 15,000 people employed on site.

Cameron has led successful greenfield and brownfield construction projects, overarching business transformations and business improvement projects, and at the corporate level has deep commercial/M&A experience. Prior to Oyu Tolgoi, Cameron was CEO of Richards Bay Minerals in South Africa (2008-10), Managing Director of Murowa Diamonds in Zimbabwe (2006-07) and Project Director for the Hail Creek Coking Coal Expansion project in Australia. Prior to 2004, Cameron held commercial and project leadership roles, both at Corporate and Business Unit levels. In 1995, he was a key team member responsible for the A$29 billion merger of CRA and RTZ into the dual listed Rio Tinto (which was the world’s largest merger at the time).

Mr. McRae is the founder of Tarva Investment & Advisory, a broad-based consultancy firm. Tarva has also acted as strategic advisor to Erdenes Mongol, Mongolia’s state-owned asset management firm, on the resolution of the Oyu Tolgoi dispute between Rio Tinto and the Government of Mongolia. Cameron remains active in Mongolian public life, as an executive director of the Business Council of Mongolia, as a trustee of the Arts Council and founder of the Institute of National Strategy. Cameron was schooled in Australia and Africa and holds a commercial degree and an MBA (Monash Mount Eliza, 1991).

Member of the Technical Committee.

David V. Mosher, Director

David V. Mosher

Mr. Mosher is a mining executive with over thirty-five years of international experience. From 1992 to 2008, David was President and CEO of High River Gold Mines Ltd., a TSX listed company involved in the exploration, development and production of gold in Canada, Africa and Russia. In that role, he negotiated the acquisition of two producing Russian gold mines, completed mining investment agreements with the government of Burkina Faso, raised over $300 million to support the company’s growth, and supervised the development of two open pit gold mines (the Taparko gold mine in Burkina Faso, and the Berezitovy gold mine in Russia). He has served on many boards including Cambior Inc. and earlier in his career was project manager for Pancontinental Mining Limited, where he and his team discovered and outlined the largest uranium deposit in the world at that time (the Jabiluka deposits in northern Australia).

Over the past decade, Mr. Mosher has been active in the restructuring and refinancing of a number of junior resource companies, both private and public, and currently serves as a director of several mining and exploration companies, including Pancontinental Uranium Corporation (TSX-V) and Pelangio Exploration Inc. (TSX-V). Mr. Mosher received his B.Sc. degree in geology from Acadia University.

Member of the Compensation and Technical Committees.

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