Waratah Coal, Centrex, North West Iron Ore Alliance, RCR Tomlinson
26 January 2010
Peter Lynch
EXPERIENCED coal mining figure Peter Lynch has walked away from the ‘new energy in coal’ in Australia, Waratah Coal, and its $A5 billion Galilee Basin project in central Queensland, citing “family reasons” for stepping down as the company’s president and CEO.
The centrepiece of Clive Palmer’s proposed multi-billion-dollar Hong Kong mining float, the Waratah Coal project – or ‘China First’ project – has been Lynch’s focus for the past five years. Waratah Coal was taken over by Palmer’s Resourcehouse last year.
Lynch, 45, is a 21-year veteran of Queensland’s coal mining scene and also did a stint as a senior manager in MIM’s metals business.
Phil McNamara takes over Lynch’s executive director post at Waratah.
CHINESE mining executive Xiaopeng Yin has joined the board of Centrex Metals following the South Australian iron ore company’s recent share placement to Wuhan Iron & Steel (Group) Corporation (WISCO).
Yin is general manager of Mineral Industry Corporation and chairman of Wugang Australian Resources Investment Pty Ltd, Centrex’s second largest shareholder. Both are wholly owned subsidiaries of WISCO. Yin is also a director of Consolidated Thompson Mines of Canada and was the general manager of the Daye iron ore mine in China’s Hubei province. The mine has 5000 employees and produces 1.1 million tonnes of iron ore concentrate per annum.
Dr Liaowu Guo has been appointed as an alternate director to Yin.
He will reside in Adelaide from April “in anticipation of the commencement of joint venture activities between the companies”, according to Centrex, and would be WISCO’s delegate to the company.
Dr Guo was previously general manager of the Chengchao iron ore mine in China, which also has about 5000 employees. He was responsible for construction of a 5Mtpa pellet plant, said to be the largest in Asia and the sixth largest in the world.
“Amongst other accomplishments, Dr Guo was the youngest ever general manager appointed by the WISCO group of companies. He also completed his university degree by the age of 19,” Centrex said.
The North West Iron Ore Alliance (NWIOA) has named “global resource industry executive” Tony Considine as chief executive.
“Considine has a strong track record delivering results in the mining and petroleum industries around the world, including a highly successful career with global oil giant BP,” a NWIOA statement said. “He has devised and implemented international joint ventures, strategies to fuel growth and create wealth for shareholders and mergers and acquisitions.”
Considine was chief executive of downstream operations for the TNK-BP joint venture in Russia and the Ukraine, an operation with more than 25,000 staff and EBITDA delivery of $US5 billion in 2008. He developed the case for BP’s acquisition of Burmah Castrol ($US4 billion), and delivered the commercial and economic sections of the feasibility study for the Olympic Dam project with BP Minerals in Australia.
NWIOA Chairman Ian Campbell said Considine’s appointment was a major coup for the alliance, as it prepared the feasibility study on its Port Hedland port development and stepped up negotiations aimed at securing an efficient rail solution for its members.
“Tony’s unique experience gained in leading large scale projects and managing joint ventures, architecting and transforming businesses and improving corporate governance frameworks will bring valuable expertise to the development of the alliance’s objectives,” Campbell said.
“Access to this crucial infrastructure will open up the Pilbara to a new generation of iron ore miners, creating thousands of jobs and millions of dollars a year in additional government royalties and export revenue. The combination of a new port and a transparent rail haulage regime promises to generate immense benefits for iron ore companies, thousands of West Australian workers and the overall Australian economy.”
He was CFO and a director of Clough between 2003 and 2009, CFO of BAE Systems’ defence electronics business AMS, a global defence and aerospace company for 19 years to 2003, and deputy CEO of Alenia Marconi Systems.
Also in the January 26 - February 1, 2010 edition
- AFRICA
- Simple appeal
- AUSTMINE
- FAST GROWING AUSTRALIANS: Russell Mineral Equipment
- BREAKING NEWS
- Phosphate minnow targets 2011 production
- RBS highlights Kentor upside
- Seafloor copper the next wave
- COAL
- Leaping into Indonesian coal
- FINANCE
- Firm production path could galvanise market
- No shortage of allies for Pacific Rim gold miner
- GOLD
- Cortona on track for 2011
- St Barbara's uphill push
- MINING
- We ain't seen nothing yet
- PEOPLE
- Making money in mining still harder for women
- UnCUT
- GBF Mining; Avatar gives Albanese's vision the flick; FMG gets clumpy
- UNDERGROUND
- Gulf heads to the Gulf