(IDEX Online News) – Pangolin Diamonds Corp announced that Gareth Penny has been elected to the board of directors as non-executive chairman of the board.

Penny is an industry veteran, having worked for three decades in various parts of the mining sector of the diamond pipeline. His last role for De Beers was a five-year stint as group CEO. Penny is currently non-executive chairman of MMC Norilsk Nickel, a leading producer of nickel, palladium, platinum and copper.

During his tenure at De Beers, Penny reorganized its business – also affecting the way that the entire diamond industry is run. Supply-side management in the rough diamond business was replaced with demand-driven initiatives.

Penny has also had in-the-field experience, spending time with geologists in situ in overseeing the development of new mining projects in Botswana, South Africa and Canada.

“His lifetime industry experience and proven leadership and operational skills, coupled with his extensive international business management expertise, will be invaluable additions to our Board,” said Pangolin president and CEO Dr. Leon Daniels.

Penny’s appointment will only officially be ratified following final approval of the TSX Venture Exchange.