Key PMA appointments
Precious Metals Australia Ltd has announced key changes to its Board of Directors, including the appointment of senior mining executive Dr Iain Scott as Managing Director to lead the company in its forthcoming transition to production.In addition, prominent Australian mining executive Michael Kiernan has been appointed as PMA’s non-executive Chairman.Dr Scott – who was most recently General Manager-Operations with copper, gold and bulk commodities producer, Straits Resources Ltd – will spearhead an expanding management team focused on completion of the financing and development of PMA’s 90%-owned Windimurra Vanadium Project in Western Australia. Windimurra is expected to be the lowest cost vanadium mine in the world.Dr Scott will replace long-serving PMA Managing Director and founder, Roderick Smith, who has decided to step down from the role following a 20-year stint at the helm of the Company. Mr Smith will remain on the Board as a non-executive Director and remains a major shareholder in PMA. The need for the transition emerged since December 2006, when Mr Smith was hospitalised with cardiac difficulties.To facilitate a smooth handover, Mr Smith has agreed to remain in his current position for a period of three months to provide Dr Scott with full access to his extensive knowledge of the Windimurra Project and PMA’s operations during the current critical financing phase for the Project. In addition, PMA has announced that Michael Kiernan, who has been a non-executive Director of PMA since August 2006, would assume the role of non-executive Chairman of the Board. The company’s Chairman, Tony Grey, has retired due to growing work loads in his other interests, including International Ferro Metals Limited, which has just brought a large ferrochrome project into production.Dr Scott is a highly credentialed mining executive with over 25 years’ experience in the minerals processing industry. In his previous role at Straits Resources, he was responsible for the performance of several mining operating sites. Prior to this, he spent eighteen years in the mineral sands industry and is a world leader in synthetic rutile production technology, a process similar to vanadium extraction. He has a PhD in mineral processing and 1st class honours degree in metallurgy.