Mansell at Hanlong

VETERAN director Peter Mansell continues to rebuild his corporate portfolio with an appointment to a special advisory role with emerging resources investor Hanlong Mining Investment.

Mr Mansell has been made chairman and head of iron ore business, a non-board role in which he will assist the group to diversify its resources holdings, predominantly focused on molybdenum, into iron ore and uranium.

Hanlong, a part of a private Chinese conglomerate, has previously stated its growth ambitions include a strategic plan to invest up to $5 billion in Australian steel-related raw materials, agriculture and renewable energy projects. Internationally, the group is thought to have somewhere between $5 billion and $10 billion earmarked for resources investment.

Its recent moves include a $US466 million loan to complete financing for Moly Mines’ Spinifex Ridge molybdenum-copper project in the Pilbara, and $5 million of debt and equity funding to progress Marenica Energy’s flagship uranium project in Namibia.

Earlier in 2010, Hanlong guaranteed a $US665 million loan to US-based General Moly, in which it took a 25 per cent stake.

While Mr Mansell’s Hanlong appointment is not a board position, it will add significant weight to his portfolio, which was devastated by the global financial crisis and other corporate activity. He quit as chairman of WA Newspapers Holdings after losing a battle to keep major shareholder Kerry Stokes off the board, and found himself embroiled in two tough situations – the post-merger debt troubles at Oz Minerals and the collapse of Great Southern.

Late last year, Mr Mansell became chairman of African gold explorer Ampella Mining, adding to his long-term roles on the boards of Bunnings Warehouse Property Trust, private winemaker Ferngrove and Belgium-based lead and zinc smelting group Nyrstar. He is also on the board of the Cancer Research Trust.