PERTH (miningweekly.com) – Iron-ore developer Sundance Resources has appointed Wal King to succeed chairperson George Jones, who would retire at the conclusion of the company’s annual general meeting on November 29.
King was appointed to the Sundance board as nonexecutive deputy chairperson in May this year, following his stint as CEO of Leighton Holdings since 1987.
King thanked Jones for the strong leadership and commercial experience he brought to Sundance, saying his skills had ensured the company was now poised to unlock the immense value of its project.
“Jones, who leaves with the best wishes of the board, has led Sundance on its journey from a small iron-ore explorer to an internationally-recognised company,” King said.
“Along the way, he has steered Sundance through its darkest hour, ensuring that it never lost sight of its ultimate destination. I am delighted to be given the opportunity to lead Sundance on the next leg of its journey and I look forward to helping to create substantial value for shareholders along the way.”
Jones has been chairperson of Sundance since September 2006 and held the position until he resigned for health reasons in August 2009. He resumed the chairmanship in July 2010, following the plane crash in which the entire Sundance board died.
He played a leading role in rebuilding Sundance in the wake of the crash, taking it to the point where it is now preparing to enter the construction phase at its Mbalam-Nabeba iron-ore project in Africa.
Jones said the transition in the project from exploration to development made it a logical time for him to step down and for King to take the chairpersonship.
“I have always believed that the Mbalam-Nabeba project has every potential to be a world-class iron-ore operation, both technically and economically. With King at the helm, I have no doubt that this potential will be realised.”