Acquisitive BC Iron strengthens management

BC Iron has beefed up its senior management team to seek out new opportunities and project acquisitions, adding former Barrick Gold manager Peter Powell to drive business development.

Mr Powell spent four years at Barrick as business development manager, looking after company and asset acquisitions, joint ventures and farm-ins within the Australia Pacific region.

Managing director Mike Young said the company was delighted to welcome Mr Powell into the newly created position.

“When we first discovered Direct Shipping Ore at the Outcamp deposit in May 2007, BC Iron stated that it would focus on bringing Nullagine into production and then use the cash flows to develop new business opportunities,” Mr Young said.

“We have since delivered on the first promise of iron ore production and we are now embarking on the second promise of using our cash flows to grow the company’s revenues.

“We believe that the combined effect of an experienced business development Manager and our group’s iron ore experience will allow us to rapidly review and assess these new opportunities.”

At close of trade today BC Iron shares were up 2 per cent trading at $2.99.