Tuesday, 30 June, 2009 - 09:06
AnSteel joins Gindalbie Metals board
Gindalbie Metals has progressed its relationship with AnSteel, today announcing the appointment of two more representative from the Chinese entity to the board.
Chen Ping was the managing director of Karara Mining and director of Gindalbie Metals. He held a wide range of engineering and senior management positions with Ansteel Mining Company since 1982 including as assistant manager, general manager and chair.
Gindalbie Metals has progressed its relationship with AnSteel, today announcing the appointment of two more representative from the Chinese entity to the board.
Chinese steelmaker Ansteel has taken majority ownership of the Karara iron ore project, lifting its stake above that of Gindalbie Metals after converting shareholder loans to new equity in Karara Mining.
The owners of the Karara iron ore project have transfered Gindalbie Metals boss Dale Harris to a chief executive role at Karara Mining, in an apparent bid to bring the trouble-plagued project back on track.
Iron ore explorer Gindalbie Metals has flagged a $640 million hit to its investment in Karara Mining, after it completed a review of its assets.
Gindalbie Metals is handing over leadership of Karara Mining, with the venture's major shareholder, Chinese steelmaker AnSteel, appointing a new chief executive.
Position | Company | Year | Company's current rank |
---|---|---|---|
Managing Director
|
2014 - 2019 | ||
Non-Executive Director
|
2009 - 2016 |
Announced | Bidder | Target | Transaction Type | Total Value | |
---|---|---|---|---|---|
Ansteel | Karara Mining | Acquisition | $59.91m | >> |