11/02/2008 - 16:07

Kiernan takes a back seat at India Resources

11/02/2008 - 16:07

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Prolific company director Michael Kiernan has stepped down from his role as chairman of India Resources Ltd, to be replaced by non-executive director Andrew Simpson who has worked with Mr Kiernan at several other companies.

Prolific company director Michael Kiernan has stepped down from his role as chairman of India Resources Ltd, to be replaced by non-executive director Andrew Simpson who has worked with Mr Kiernan at several other companies.

Mr Kiernan said he was stepping down from the position due to other work commitments, but would remain an active part of the copper producer's board in the position of vice chairman.

Mr Simpson is currently the managing director of Resource & Technology Marketing Services Pty Ltd, a company providing specialist marketing and business assessment services to the mineral resources and technology sectors in Australia and internationally.

He is non-executive chairman of Swick Mining Services and non-executive director of Vital Metals Ltd and Territory Resources Ltd, which is also chaired by Mr Kiernan.

He was formerly a director of Consolidated Minerals, which had been run by Mr Kiernan.

IRL has also appointed chief operating officer Arvind Misra as operations director.

Announcing the changes, Mr Kiernan said the IRL Board and shareholders would benefit from the collective 50 years of resource experience shared by the new directors, with particularly pertinent marketing and operations skills.

"Andrew has provided the board with outstanding resources and marketing experience, which is particularly important to India Resources now that it is in production at Surda, and aiming to ramp up mining and marketing operations," Mr Kiernan said.

Mr Misra is a mining engineer with 20 years experience in the resources industry, with extensive skills in business improvement and project mine management.

He has consulted on a number of high profile projects including the BHP Mitsubishi Alliance, and for LionOre Australia and Griffin Coal.

"The addition of Arvind to the Board provides first class resources background with an intimate understanding of the Indian operating and political environment. Arvind's expertise has been a key part in getting the Surda mine into production ahead of schedule, and his input on the board will be highly valuable," Mr Kiernan said.

IRL commenced production at the Surda mine and the Mosaboni Concentrator in December. It has met a January production target of 10,000 tonnes of ore, and is on the way to its production target of 40,000 tonnes per month by June 2008.

 

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