10/01/2008 - 10:46

Former Rio exec joins Australasian as GM

10/01/2008 - 10:46

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Perth-based iron ore exploration and development company Australasian Resources Ltd has strengthened its management team with the appointment of Stephen Abbott to the newly created position of general manager.

Perth-based iron ore exploration and development company Australasian Resources Ltd has strengthened its management team with the appointment of Stephen Abbott to the newly created position of general manager.

Most recently Mr Abbott, a mechanical engineer, was responsible for the pre-feasibility studies on a new 100+ Mtpa iron ore port for Rio Tinto.

Prior to joining Rio, he was smelter metallurgical superintendent with WMC at the Olympic Dam operation.

At Australasian, Mr Abbott will provide technical, corporate and project support to the managing director, along with peer support and leadership towards the development of the company's projects, including the flagship Balmoral South Iron Ore Project in the Pilbara region of Western Australia.

He will also play an important role in ongoing business development and will assist in the liaison with representatives from the company's key Chinese partner, Shougang.

As part of Mr Abbott's remuneration package, the board of ARH has approved the issuing of 1.25 million options with an exercise price of the weighted average share price for five trading days prior to Mr Abbott's commencement on January 16.

The options have vesting dates between six and 36 months from date of commencement.

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