Geoffrey Hill

The boardroom battles at Mt Gibson Iron took a strange twist this week, with the ASX’s web site apparently showing that the three directors who opposed the recent election of new chairman Geoff Hill had resigned from the board.

Mount Gibson Iron has announced the appointment of two new directors as the company’s board grapples with a continuing rift over the independence of its chairman Geoff Hill.

One day after being praised by chairman Geoff Hill at the company’s annual meeting, iron ore miner Mount Gibson Iron has announced that managing director Luke Tonkin will step down from the role.

The controversy over director independence at Mount Gibson Iron has taken another surprise twist, with a majority of the board resolving that one of its existing members should be reclassified as independent.

Mount Gibson Iron chairman Geoff Hill has secured final control of the iron ore miner's board, after the last of his critics, Craig Readhead, resigned today.

Iron ore miner Mount Gibson Iron has declared its maiden interim dividend, despite production problems at its mines and a slump in interim profit.

Paladin Energy has appointed former Mount Gibson Iron chief financial officer Alan Rule to replace Garry Korte, who has been poached by Gina Rinehart’s Roy Hill Holdings, a subsidiary of Hancock Prospecting.

Mount Gibson Iron has added to the run of strong half-year results from iron ore miners, more than doubling its net profit on the back of record sales. The market, however, marked down its shares after the company confirmed it would not pay interim dividends.