26/11/2018 - 13:48

Southam to lead Mincor

26/11/2018 - 13:48

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David Southam has resigned as the executive director of Western Areas to succeed Peter Muccilli as the managing director of Mincor Resources.

David Southam will replace Peter Muccilli.

David Southam has resigned as the executive director of Western Areas to succeed Peter Muccilli as the managing director of Mincor Resources.

Mr Southam will step down as executive director on January 31 next year and commence his new position at Mincor the following day.

Mr Southam has been executive director at Western Areas since 2010 and serves as a non-executive director of Ramelius Resources and Kidman Resources.  

Mr Muccilli has been with Mincor since 2004, becoming managing director in 2016.

Traditionally a nickel producer, Mincor approved the Widgiemooltha gold project in March this year amidst a challenging nickel market.

Mincor chairman Brett Lambert said Mr Southam’s appointment indicated the company would seek to re-establish its focus on nickel.

“David’s experience and skills are well matched to the company’s objectives and I am confident that he will contribute greatly towards achieving our goal to re-establish Kambalda as a significant nickel mining centre,” he said.

Mr Southam’s base salary at Mincor will be $525,500 per year, including superannuation.

Short-term incentives are capped at 50 per cent of fixed remuneration, while long-term incentives are limited to 100 per cent.

Mr Lambert thanked Mr Muccilli for his 15 years of service.

“In my two years at the company it has been an absolute pleasure to have worked with Peter and to experience his boundless passion for Mincor and Kambalda,” Mr Lambert said.

Shares in Mincor were down 2.8 per cent to trade at 35 cents each at 3.15pm AEDT.

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