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Champion Iron appoints O'Keeffe its CEO

Champion Iron appoints O'Keeffe its CEO

Photo by Bloomberg

3rd October 2014

By: Mariaan Webb

Creamer Media Contract Publishing Editor

  

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JOHANNESBURG (miningweekly.com) – The board of ASX- and TSX-listed Champion Iron – a developer focused on building the next major iron-ore mine in Canada’s Labrador Trough – has appointed Michael O'Keeffe its CEO with immediate effect, following the resignation of Thomas Larsen.

Larsen retired as CEO and director of Champion on August 29, to head up Cartier Iron Corporation. He would remain as a consultant to the company, as an adviser to the CEO, until the end of August next year.

O'Keeffe would retain his current position of executive chairperson of Champion Iron, which he took up after the merger of Mamba Minerals and Champion Iron in 2013, the company reported on Friday.

In a statement, the Champion board said they believed O'Keeffe would deliver immediate programmes to advance the Consolidated Fire Lake North project, which hosts more than 3.4-billion tonnes of iron. A 2013 prefeasibility study, which focused on the so-called East-Pit and West-Pit deposits, estimated that the C$1.4-billion Fire Lake mine could produce 9.3-million tonnes a year of concentrate over 19.6 years.

Prior to championing the potential of Canada’s Labrador Trough, O'Keeffe – a former Glencore executive – led the development of Riversdale Mining from a junior with a market capitalisation of A$7-million until it was acquired by Rio Tinto for A$4-billion. During the period at Riversdale, O'Keeffe raised about A$780-million for Riversdale.

More recently, O'Keeffe raised $10-million for the merged Champion entity. He was chairperson of Mamba Minerals from 2012 to 2013.

Edited by Creamer Media Reporter

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