Extract appoints Leslie as new CEO

Extract Resources has today appointed former Rio Tinto board member Jonathan Leslie as its new chief executive, some nine months after managing director Peter McIntyre announced his resignation.

Mr Leslie was on the board of Rio Tinto plc for nine years and previously served as executive chairman of AIM-listed mining company, Nikanor.

"The networks developed by Jonathan in banking and finance, and thorough understanding of uranium mining, markets and customers, will add tremendous value to Extract as the company moves towards full production of the Rössing South deposit," Extract chairman Stephen Galloway said.

Mr Leslie has signed a four year contract and will receive an annual salary of about $1.2 million, excluding superannuation contributions.

He will also receive a yearly bonus of up to $342,000 should he achieve key performance indicators. Mr Leslie will also receive long-term rewards should he meet certain targets.

Mr Leslie will immediately start at Extract.