King to chair Sundance

Sundance Resources has appointed former Leighton Holdings chief executive officer Wal King as its new chairman, following the retirement of current chairman George Jones after the company’s AGM in November.

Mr Jones was chairman of Sundance in 2006 and held the position until he resigned for health reasons in 2009.

Following the plane crash in July 2010 that killed the entire board of Sundance, Mr Jones resumed the chairmanship and led the company to its current state, as it prepares to enter construction phase at its Mbalam-Nabeba iron ore project in Africa.

Mr Jones said the Mbalam-Nabeba project transitioning from exploration to development made it a logical time for him to step down.

“Mbalam-Nabeba is not so much a mining project as it is an infrastructure project. Wal is one of the most experienced and skilled engineering and construction executives in Australia and his knowledge and contacts in his field will be invaluable to Sundance as it moves into construction,” Mr Jones said.

Mr King spent 23 years at the helm of Leighton, and was appointed to the Sundance board as non-executive deputy chairman in May this year.

Meanwhile, Leighton was in the spotlight today as reports emerged that senior executives allegedly discussed plans to inflate and backdate contracts to disguise payments to corrupt officials in order to win work in Iraq.

Sundance shares last traded at 7.8 cents per share at 12.15pm.