03/07/2009 - 08:06

Jones to leave Gindalbie, Sundance

03/07/2009 - 08:06

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Mining identity George Jones has announced he will step down from his chairman roles at Gindalbie Metals and Sundance Resources to focus on his health, with Geoff Wedlock to assume the responsibilities.

Jones to leave Gindalbie, Sundance

Mining identity George Jones has announced he will step down from his chairman roles at Gindalbie Metals and Sundance Resources to focus on his health, with Geoff Wedlock to assume the responsibilities.

Mr Jones will step down at the end August from his chairman duties at both iron ore companies, but will remain as a non-executive director with Gindalbie.

However he will take a six month leave of absence to focus on completing his rehabilitation from a previous medical condition, Gindalbie said in a statement.

 

Gindalbie's announcement is below:

 

Gindalbie Metals Limited (ASX: GBG - "Gindalbie") today announces that Mr George Jones will step down as the Company's non-executive Chairman, effective from 31 August, 2009.

Mr Jones will remain a non-executive director of Gindalbie, but intends to take a six-month leave of absence, to enable him to focus on completing his rehabilitation from a previous medical operation.

The Board of Gindalbie has announced the appointment of Mr Geoff Wedlock, who has been a non-executive Director since February 2008, as the Company's non-executive Chairman. Mr Wedlock is a highly experienced mining executive with more than 40 years experience who has had a long association with Mr Jones and with Ansteel.

Mr Wedlock was previously Managing Director of the successful Australian iron ore producer Portman Limited and Executive Vice President and CEO of BHP Iron Ore Pty Ltd, where he was directly involved in the development of four mines, upgrades of two ports and two railways, major infrastructure and the development of iron ore processing plants.

Mr Jones said that while he was sad to relinquish the role of Chairman, it was with a sense of great satisfaction that Gindalbie was now firmly established on a path to build a leading Australian iron ore company with a very strong growth future particularly following the completion this week of the $162 million share placement to Ansteel.

"Our strategy is firmly in place, we have a world-class asset in the Karara Project, we have a strong partnership with Ansteel, we have funding solutions in place, and we have recently secured key approvals which should see us commence construction later this year," Mr Jones said. "I am particularly optimistic about the future of the junior iron ore sector subsequent to the merger of the BHP and Rio Tinto iron ore interests."

"The Company will be extremely well served by Geoff Wedlock as Chairman, who is one of the most experienced and capable mining executives in Australia with many decades of experience in managing major iron ore projects and dealing with financiers, international partners and customers, external parties and governments."

Gindalbie's Managing Director, Mr Garret Dixon, said: "On behalf of the Board, management and staff of Gindalbie and the Karara Joint Venture, I would like to take this opportunity to pay tribute to George for his vision, strength, foresight, commitment and hard work while Chairman of Gindalbie over the past four years."

Mr Wedlock said: "George has put Gindalbie in a formidable position and I look forward to continuing with the firm strategy Gindalbie has in place. I look forward to driving Gindalbie through the construction phase of Karara and the many opportunities beyond that for us to grow into a strong and sizeable company.

 

 

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