Independent asset manager Sprott Inc. (TSX: SII) welcomes Marc Faber to its board of directors and audit committee, the company said Tuesday.

Faber is the managing director of Marc Faber Ltd., an investment advisory and fund management firm. He also acts as a director of Ivanhoe Mines Ltd. (TSX, NYSE, NASDAQ: IVN), an international mining company with operations focused on the Asia Pacific region, and as a director and advisor to a number of private investment funds.

Faber publishes a widely read monthly investment newsletter entitled “The Gloom, Boom & Doom Report” and is the author of several books including “Tomorrow’s Gold: Asia’s Age of Discovery”. He is a regular contributor to several leading financial publications around the world, including Barron’s.

Faber has over 35 years experience in the finance industry, including acting as manager of an investment bank in the United States where he routinely performed financial analysis on a range of companies. He received his PhD in Economics magna cum laude from the University of Zurich.

“We are honoured and delighted to have someone with Marc’s credentials join our board of directors. Marc is an internationally renowned expert and commentator on financial markets and we look forward to his contribution as a director of Sprott Inc.,” said Eric Sprott, CEO.

Sprott also announced that Ian Telfer has tendered his resignation due to time commitments and his recent appointment as the new chairman of the World Gold Council.

Sprott Inc. currently operates through three distinct business units: Sprott Asset Management LP, Sprott Private Wealth LP, and Sprott Consulting LP.