05/02/2008 - 07:14

Grange appoints Clark new MD

05/02/2008 - 07:14

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Grange Resources Ltd has appointed Russel Clark as the company's managing director and CEO, effective March 6 2008.

Grange appoints Clark new MD

Grange Resources Ltd has appointed Russel Clark as the company's managing director and CEO, effective March 6 2008.

Mr Clark is currently regional group executive of Newmont Asia Pacific's Australian and New Zealand gold mines.

Anthony Bohnenn, Grange's non-executive Chairman said Mr Clark's appointment was timely as the company moves its Southdown Magnetite project to the next step of development, with most technical work completed and with final environmental and permitting approvals for the project expected from the WA Government this year.

 

Full announcement pasted below:

Grange Resources Ltd. (ASX code:GRR) is pleased to announce the appointment of an experienced mining professional, Mr Russell Clark as the Company's new Managing Director and Chief Executive Officer, effective from 6th March , 2008.

Mr. Clark is currently Regional Group Executive of Newmont Asia Pacific's Australian and New Zealand's gold mines providing management oversight of the operations of Waihi Gold (NZ), KCGM (WA), Tanami (NT), Jundee (WA) and Boddington (WA).

Newmont Asia Pacific is one of the largest gold producers in the region.

Anthony Bohnenn, Grange's non-executive Chairman said Mr. Clark's appointment was timely as the Company moves its Southdown Magnetite project to the next step of development, with most technical work completed and with final environmental and permitting approvals for the project expected from the WA Government this year.

"I am delighted that we have managed to attract someone of the calibre and experience of Russell Clark," Mr Bohnenn said.

"He has an outstanding background and the ability to lead Grange Resources forward as it progresses the Southdown Magnetite and the Kemaman Pellet Plant Project. In addition Grange will seek other organic or corporate opportunities in niche markets in the fast growing iron ore industry as they arise," he said.

"I am looking forward to working with Russell in what we trust will be an exciting and dynamic future for the company," he said.

Mr. Clark holds a Mining Engineering degree (BSc Hons) from the Royal School of Mines, London, UK and a Graduate Diploma from the Securities Institute of Australia.

In addition he has undertaken a number of Executive Development programs in Australia and the USA.

Prior to joining Grange, Mr Clark worked for Renison Goldfields for over 18 years and with Newmont for the past 8½ years.

He has over 30 years of mining experience in Africa, Papua New Guinea, the USA and throughout Australia, in technical, project management, general management and executive positions.

Mr. Clark said: "Grange Resources is at an exciting point in its history. I am looking forward to the challenge of leading the Company through the transition from a junior iron ore company into a world class DR pellet producer. We have the potential to be an important player in the iron ore industry feeding the growing demand in the rapidly expanding DRI based steel-making industry in South East Asia and the Middle East."

The Company will ask shareholders to approve an appropriately structured share options incentive package for Mr Clark at its next general meeting.

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