Tim Netscher

Netscher to head Gindalbie Metals

THREE trends stand out when the salary packages of newly appointed chief executives at Western Australian companies are examined.First,the bigger the company the higher the salary.

Downing Teal names new managers

Gindalbie Metals has secured an agreement for a second $30 million loan from its joint venture partner in the Karara magnetite iron ore development, after delays in the project’s production ramp up resulted in shipments going out below forecast.

Chinese steelmaker Ansteel is set to provide a further $US230 million injection of working capital into the Karara iron ore project in the Mid West, in a deal that would dilute Gindalbie Metals' stake in the project to as little as 38 per cent.

The past year has been tough for listed WA companies looking to raise funds but a lift in activity during the past three months has the industry cautiously optimistic.

Gindalbie Metals has appointed former Rio Tinto executive Dale Harris as its new managing director to succeed the departing Tim Netscher on a package that is about half of what his predecessor received.

Perth companies Austal and Aquila Resources have bolstered their boards, with the recruitment of two prominent former executives.

Aspiring iron ore miner Aquila Resources has appointed former Gindalbie Metals managing director Tim Netscher to its board as an independent director, while long-serving Aquila non-executive director and major shareholder Charles Bass (pictured) has retired.

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

Tim Netscher has been appointed to the board of Melbourne-based gold miner St Barbara as an independent non-executive director. Mr Netscher recently stepped down from his role as managing director of Gindalbie Metals.

Melbourne-based gold miner St Barbara has announced plans to appoint former Gindalbie Metals managing director Tim Netscher as chairman, as part of its ongoing board renewal.

Former Gindalbie Metals managing director Tim Netscher is set to take the helm of gold miner St Barbara, when Colin Wise retires from the role as non-executive chairman next month.

Former Gindalbie Metals boss Tim Netscher has joined the board of uranium miner Toro Energy as a non-executive director, replacing chair Fiona Harris, who is retiring for personal reasons.

Veteran mining executive Tim Netscher will be hoping his golden run continues when he takes the reins as chairman of uranium play Toro Energy this week.

Veteran mining executive Tim Netscher will soon take on the role of chairman at aspiring gold miner Gold Road Resources, while Ian Murray will transition to managing director.

Auroch Minerals announced that Dr. Andrew Tunks has committed to a full-time role as Auroch CEO. Auroch also advised that Ryan Gaffney has been appointed as a Non-Executive Director and Nicholas Ong has resigned as Director.