12/08/2008 - 09:51

Harper resigns from Fox Resources

12/08/2008 - 09:51

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Fox Resources Ltd has today appointed Bruno Seneque as managing director following the resignation of Don Harper, who has left the company to pursue other opportunities in the resources sector.

Fox Resources Ltd has today appointed Bruno Seneque as managing director following the resignation of Don Harper, who has left the company to pursue other opportunities in the resources sector.

Mr Seneque's new role at Fox is effective immediately, with the company's board thanking Mr Harper for his contributions and wishing him the best of luck in future endeavours.

Mr Seneque has been with Fox since 2004 and was previously an executive director.

The board changes follows the company's decision last month to wind down mining operations at its Radio Hill nickel mine and defer the start of a key nickel project after a drop in commodity prices.

The nickel price has declined from its record high of $US51,000 per tonne in May last year to about $US18,00/t on the London Metal Exchange last night.

Fox is now "vigorously" pursuing the development of its Mt Oscar iron ore project in the Pilbara and is optimising its base metals business.

"Previous remnant mining at Radio Hill has shown that the cost structure for the existing plant is not optimally aligned to the currently defined resources available for mining," Fox said.

"Fox will move to enhance the business by undertaking further exploration with the aim of delineating further base metal resources in order to support a higher throughput business and a longer mine life."

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