PERTH (miningweekly.com) – The Australian mining industry was left reeling on Tuesday as news broke that the wreckage of the aircraft chartered by iron-ore explorer Sundance Resources was found in the Republic of Congo.

No survivors were found.

The aircraft, carrying the entire Sundance board, went missing on Saturday as board members made their way to the company’s Mbalam iron-ore project, on the border of Cameroon and the Republic of Congo, to conduct high-level meetings with government representatives of both countries.

The chartered aircraft was carrying chairperson Geoff Wedlock, MD and CEO Don Lewis, company secretary John Car-Gregg, and nonexecutive directors Ken Talbot, John Jones and Craig Oliver.

Four other people, including the two pilots were also on board.

Sundance had suspended its operations in the two countries to focus its attention on search and rescue operations, and a detailed air and ground search was launched.

The explorer said on Tuesday that the crash site had been secured, with two Sundance contractors and a representative of the French Military remaining with the bodies.

Given the remoteness of the crash site, Australian mining contractors located in the vicinity would commence clearing access tracks to the accident site.

Meanwhile, condolences have been pouring in for the families of those lost, including Wedlock, who held the position of chairperson at iron-ore developer Gindalbie Metals, and was nonexecutive director for ASX-listed Jupiter Mines.

Wedlock had more than 35 years experience in the mining sector, the majority at senior levels within the industry. Prior to joining Sundance, he was MD of Grange Resources, and had spent 32 years with diversified giant BHP Billiton, including a period as CEO of a major BHP business unit.

Lewis was a civil engineer with over 20 years experience in resource project development, construction and financing. Prior to joining Sundance, Don was MD of Multiplex Engineering.

Carr-Gregg was a lawyer with over 25 years corporate and commercial experience including in excess of 13 years experience in the resources industry which has included roles as general counsel of Renison Goldfields, general counsel and company secretary of Straits Resources and director of Hargraves Resources.

Oliver had considerable corporate, project development and operational experience from more than 15 years in senior roles in mid-cap publicly listed mining companies and as a partner in a mid-tier Chartered Accounting firm. He was a member of the Institute of Chartered Accountants.

Jones was only appointed as a nonexecutive director of Sundance in May this year, and was the newest member of the board. He previously acted as the GM of HWE Mining and had over 30 years experience in the Australian contract mining industry.

Talbot was a prominent Australian businessman with nearly four decades of significant corporate, financial and mining expertise, including 20 years as a CEO/MD. Talbot's investment company, Talbot Group, is Sundance’s largest shareholder.

MOVING FORWARD

Sundance CFO Peter Canterbury has been appointed acting CEO, and in conjunction with the operations suspensions, Sundance has also halted share trading until further notice.

Sundance has also appointed three strategic advisers on an interim basis, including former Sundance chairperson George Jones.

Canterbury said that the advisers would support and provide guidance to Sundance in the execution of a range of strategic and corporate operational matters.

Solicitor Michael Blakiston and Azure Capital director Adam Rankine-Wilson were also appointed as interim advisers.

Jones told reporters on Monday that in the worst-case scenario, the company would survive with a strong balance sheet and capable management.

“When I stepped down from the company, I did that in the knowledge that the company is in very strong hands.

“They had very experienced executives and first class, and a company cannot lose that many people and not be affected by it. The processes that were in place are still operating well, with the possible exception of everyone being on one plane, is still very robust and with the advisory team and the senior management, I’m sure that while it would be a big setback, it will not mortally wound Sundance.”

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