Former Rio exec to head Golden West

Golden West Resources Ltd has appointed former Rio Tinto Iron Ore chief operating officer David Rose as its chief executive, as it shores up its defence against Portman Ltd's bid to oust two directors.

Mr Rose was previously responsible for Rio's projects in Brazil, India and Guinea including the $6 billion Simandou project. Prior to that, Mr Rose was the managing director of Rio's Argyle Diamonds.

Mr Rose's appointment comes ahead of a shareholder meeting requisitioned by Portman which wants to replace GWR chairman Con Markopoulos and director Michael Wilson with its managing director Richard Mehan and Paul Piercy.

Mr Piercy has previously held various senior management positions in Rio's iron division.

The meeting is scheduled for August 29.

Yesterday GWR announced it had entered into a 15-year offtake agreement with a Chinese steelmaker, which will also subscribe to nearly $27 million worth of shares for an 11 per cent stake.

The Osborne Park-based company will supply Hunan Valin Steel Tube & Wire Co Ltd with up to 4.5 million tonnes of iron ore each year from its Wiluna West project in the Mid West region.