Joe Ricciardo

Belmont-based GR Engineering has formed a strategic alliance with South African-based MDM Engineering to pursue work on the growing number of mining projects being pursued by Australian companies in Africa.

LESS than five years after being established, Perth-based GR Engineering is pursing a stock market float that values the mining services business at $150 million.

Moly Mines has postponed its US$720 million Spinifex Ridge molybdenum project in the Pilbara, admitting that the mine development was not commercially viable at current market prices.

IF only all company directors could go out on such a high.Five years after establishing Forge Group, Peter Hutchinson and Andrew Ellison are leaving the business.

PERTH-BASED engineering and construction contractors have released a spate of record earnings reports, while bulging order books suggest there’s plenty of life in the resources boom.

THE 2012 wealth creators’ list would not be complete without acknowledging the fortunes generated by the development of the Little Creatures brewery and subsequent listing of Little World Beverages.

Shares in GR Engineering have jumped on the ASX this morning, after the company announced a £75 million ($111 million) contract with Wolf Minerals at the Hemerdon tungsten and tin mine in England.

Contracting group GR Engineering says the start of a $123 million works package at Wolf Minerals’ Hemerdon tungsten and tin project in England is a welcome boost in a murky mining services market.

Perth companies GR Engineering and Aspen Group have announced new leadership, with GR founder Joe Ricciardo moving into a new role and Aspen recruiting a former Valad Property Group executive.

GR Engineering Services has promoted chief operating officer Geoff Jones to managing director, to succeed Joe Ricciardo who moves to an executive chairman position.Current non-executive chairman Barry Patterson remains on the board as a non-executive director.

FEATURE: Salaries have come under huge pressure during the past year as widespread cost cutting takes its toll on executives’ take-home pay.

GR Engineering Services executive chairman Joe Ricciardo will step into a non-executive chairmanship role from the beginning of next year, after completing the handover of managerial control to managing director Geoff Jones.

The founder of GR Engineering Services and long-serving director of Mineral Resources, Joe Ricciardo, has retired for undisclosed personal reasons.

John McGloin and Alex Davidson, who were formerly directors of Amara Mining, have been appointed as non executive directors of Perseus Mining. Guo Qing Li has resigned as a director of Siburan Resources. Mr Li has been a director of the company since August 5, 2015.

The youngest son of the late John Roberts, who founded construction company Multiplex, has joined the board of Mineral Resources, filling the seat left vacant when long-serving director Joe Ricciardo retired in April.

SPECIAL REPORT: Some of WA’s top company directors have achieved extraordinary gains in their wealth over the past year, and while most held onto their shares, a group of 11 reaped more than $180 million from share sales.