12/03/2009 - 09:22

Geoff Wedlock to chair Jupiter Mines

12/03/2009 - 09:22

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Sydney-based Jupiter Mines will relocate to Perth to be closer to its asset base while Geoff Wedlock has been appointed executive chairman.

Geoff Wedlock to chair Jupiter Mines

Sydney-based Jupiter Mines will relocate to Perth to be closer to its asset base while Geoff Wedlock has been appointed executive chairman.

The decision comes days after shareholders approved to hand control of the company to the Brian Gilbertson-led Pallinghurst Resources and associated company Red Rock Resources.

Pallinghurst and Red Rock hold a combined 55.5 per cent stake in Jupiter.

At the shareholders meeting earlier this week, Mr Wedlock, who has previously been the chief executive of BHP Billiton's iron ore division, was appointed as a director to the board.

Mr Wedlock is currently on the boards of Gindalbie Metals and Sundance Resources.

He today takes over from founding director of Jupiter, Paul Murray, who will become an independent non-executive director.

Additionally, Jupiter said it will move its corporate office to Perth given its asset base is located in the state.

The company's Sydney-based management team, geologists and support staff will continue with their current roles and move to WA.

"Jupiter's focus for the immediate future will be to develop its Yilgarn Iron Ore projects and Manganese assets," the company said.

"It is the company's intention to expand its portfolio of steel feed related commodities and implement strategies to maximise the values of its non core assets portfolio. "

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