As the King and Bay portfolio of companies becomes more diverse, it is important to maintain a thorough knowledge of various industries and leverage our existing relationships to maintain success in the ever-changing, competitive landscape. The new King and Bay Advisory Board will provide counsel to Executive Management and will shape and guide the strategies of King and Bay in order to capitalize on future growth opportunities.
The goal of the King and Bay Advisory Board is to broaden the knowledge, understanding, and strategic thinking of the various industries within the King and Bay portfolio. The first member of the Advisory Board, Tayfun Eldem, is a seasoned business executive, located in Montreal, Quebec. Mr. Eldem has held senior roles with several multi-national organizations and will bring valuable understanding and experience to King and Bay.
"We are excited and look forward to the insights Tayfun will bring to the table," said Mark Morabito, Founder and CEO of King and Bay. "His knowledge and business expertise will be invaluable to the company's future success."
Please take a few moments to become acquainted with Tayfun Eldem, our first Advisory Board Member.
Tayfun Eldem, P.Eng
Mr. Eldem has significant experience in operations management, business development, capital markets, government relations, project management and technical marketing. Mr. Eldem was recently re-appointed as the President and Chief Executive Officer of Alderon Iron Ore Corp (TSX-IRON). He previously held this role from September 2011 to August 2015, and was instrumental in developing the Kami Project. Kami Project milestones achieved during Mr. Eldem’s past tenure include: completion of a preliminary economic assessment and bankable feasibility study, establishment of the current mineral resource estimate, signing of a strategic partnership and off-take agreement with HBIS Group of China that included financing commitments totaling $402 million, conclusion of a 15-year off-take agreement with Glencore AG, securing $49 million in equity financing from Liberty Metals and Mining, conclusion of a user agreement with the Port of Sept-Îles, signing of a power purchase agreement with Newfoundland and Labrador Hydro, conclusion of a number of stakeholder agreements, and attainment of successful release from Federal and Provincial environmental assessment processes.
Previously, Mr. Eldem was Managing Director and Associate at Hatch Ltd., leading Hatch’s business development, client engagement and project delivery functions in Eastern North America as well as overseeing the business globally for the iron ore and coal commodities.
Mr. Eldem has 29 years of experience in the mining industry and has previously worked for the Iron Ore Company of Canada, a Rio Tinto subsidiary, for over 20 years. During this time, Mr. Eldem held many senior roles including Chief Operating Officer, Vice President, Expansion Projects & Engineering, and General Manager of Processing Operations. As COO, Mr. Eldem was accountable for all of IOC’s operations: from the mine through the processing plants to rail and port and oversaw the development and delivery of a nearly $2.0 billion program of green and brown fields expansion projects. A graduate of Dalhousie University, Mr. Eldem is a professional engineer and has completed the Operations Management Program at the Richard Ivey School of Business and the Strategic Leadership Program at London Business School.