Keep up with the latest executive movements across the mining sector, featuring ERA, Allkem, and David Southam joining Cygnus Gold.
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Energy Resources of Australia (ERA) chair Peter Mansell, and independent directors Paul Dowd and Shane Charles, have quit the board following a heated standoff with its majority shareholder Rio Tinto regarding the rehabilitation project at its Ranger uranium mine in Northern Territory.
The disagreement came about following the release of an ERA-commissioned report that suggested the Jabiluka deposit in NT’s Kakadu National Park, which neighbours the now-closed Ranger uranium mine, could potentially be mined.
ERA is facing a $2 billion price tag for the Ranger rehabilitation and some read the fact the company’s report said the Jabiluka site retained “strategic value” of $1.2 billion as an effort to offset those costs.
The report generated a furious response from Rio and the Mirrar Traditional Owners, and ultimately led to calls from Rio and the Gundjeihmi Aboriginal Corporation, which represents the Mirrar People, for changes to the ERA board.
Rio welcomed news of the ERA board renewal.
“We thank Peter Mansell, Paul Dowd and Shane Charles for their contribution to ERA and wish them well for the future,” Rio Tinto chief executive Australia, Kellie Parker, said.
“We are committed to working with ERA to facilitate this board renewal process and urgently develop a workable plan to fund the increased rehabilitation costs.”
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Peter Coleman has joined Allkem as a director and will assume the role of chair as of the company’s 2022 annual general meeting on November 15. This coincides with retirement of Martin Rowley.
Coleman is the former managing director and chief executive officer of Woodside Energy Group, Australia’s largest independent gas producer, having served in that role from 2011 until his retirement in June 2021.
“Peter is an outstanding successor to the Allkem chair, having demonstrated throughout his career the attributes necessary to guide Allkem through its next growth phase,” Rowley said.
“He is ideally suited to lead the company’s successful delivery of its strategy to triple production by 2026 and maintain at least 10 per cent of global market share in the medium term.”
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Former Mincor Resources boss David Southam has joined Cygnus Gold as its new managing director. Cygnus is developing its Pontax lithium project in James Bay, Canada.
Southam stepped down as Mincor managing director and CEO in July after overseeing the nickel miner’s return to production status over the past three-and-a-half years.
The executive follows in the footsteps of Ken Brinsden, who departed Pilbara Minerals this year and joined Patriot Battery Metals in August, a company that is also exploring the James Bay region of Canada.
“David is an exceptional addition to our highly experienced team,” Cygnus chair Ray Shorrocks said. “His understanding of resource companies and projects, and his vast experience in capital markets will be invaluable as we unlock the huge opportunity at Pontax.
“David’s decision to join Cygnus also speaks volumes about the potential at Pontax, where drilling has already established the presence of high-grade spodumene.”
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Breaker Resources founder and managing director Tom Sanders has stepped aside as managing director.
As the board initiates an executive search process for its next CEO, the group’s non-executive chair Peter Cook will take on responsibility as the company’s acting CEO.
This comes as Breaker works to advance its Lake Roe gold project in Western Australia through feasibility, construction and eventually production phases.
“Tom Sanders has done a remarkable job for the shareholders of Breaker,” Cook said. “He has discovered a substantial virgin orebody on the doorstep of one of most prolific gold districts in the world.
“Over the last six years he has tirelessly drilled the system out with unwavering passion and commitment.”
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West Wits Mining has appointed Warwick Grigor as a non-executive director. This coincides with the resignation of Tim Chapman as non-executive director.
After a short period with Hamersley Iron, Grigor embarked on a career as a mining analyst and an investment banker specialising in the mining sector. He established Far East Capital in a 50:50 partnership with Andrew Forrest in 1991.
Grigor is currently chair of Far East Capital, where he has provided broker and corporate advisory services over several years. Grigor holds 24.2 million West Wits shares, which further enhances the board.
West Wits chair Michael Quinert said Grigor’s experience would be important as the company advances uranium exploration and continues to develop its Witwatersrand Basin gold project in South Africa.