IMX plans Adelaide relocation

IMX Resources has underlined its focus on its South Australian iron ore assets, moving its corporate head office from West Perth to Adelaide and appointing a new Adelaide-based managing director.

IMX told the market it had appointed former Flinders Mines chief executive Gary Sutherland as its new permanent managing director, following the resignation of Neil Meadows in October last year.

The role had been filled on an acting basis by John Nitschke, who will remain on the IMX board as a non-executive director.

Prior to joining Flinders Mines, Mr Sutherland spent more than a decade in senior leadership roles at BHP Billiton's Olympic Dam mine and Pasminco's Century mine.

He will receive fixed remuneration of $475,000 and is eligible to receive an annual short-term incentive payment equal to 20 per cent of fixed remuneration, as well as a long-term incentive scheme allocation equal to 40 per cent of fixed remuneration.

IMX has also promoted non-executive director Derek Fisher to the role of chairman.

Dr Fisher was co-founder and managing director of Africa-focused copper miner Anvil Mining for five years and spent nearly a decade at Moly Mines as managing director, until 2012.

"These changes represent a pivotal moment in IMX's history and clearly show our commitment to position the company as a focused and highly efficient iron ore miner and developer in South Australia," Dr Fisher said.

"The company's Australian activities have become increasingly South Australian-centric and it is only appropriate that we now base our head office in Adelaide."

IMX Resources is the majority owner and operator of the Cairn Hill iron ore mine near Coober Pedy in SA, and is focused on bringing its nearby Mt Woods magnetite project to development. 

The company this week approved an extension to the Cairn Hill mine through to mid-2015.

IMX shares closed the day's trade 14 per cent higher at 4.1 cents.