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Flinders Mines Announces Board Renewal And Strategic Path Forward

Mining News - Published on Thu, 20 Jun 2019

Image Source: Flinders Mines
Flinders Mines Limited announced a number of strategic initiatives that are focused on renewing its board of Directors Board and progressing the Pilbara Iron Ore Project to unlock value for all shareholders. Mr Cheryl Edwardes AM has joined the Board as an independent Non-Executive Director. Mr Cheryl currently holds positions as Chair of Vimy Resources Limited; Chair of the Port Hedland International Airport; Director, AusCann; Commissioner of the West Australian Football Commission and part time member of the Foreign Investment Review Board. Cheryl has held former positions of Attorney General for Western Australia; Executive General Manager - External Affairs with Hancock Prospecting and as Chair of Atlas Iron Limited. She brings extensive knowledge regarding the negotiation of critical primary agreements and approvals for iron ore development projects and will provide invaluable expertise to assist the Company in achieving its strategic objectives. The Board notes that several years ago Cheryl assisted BBIG in relation to native title negotiations, however the Board is satisfied that this does not impact her independence.

The Board has commenced a process to consider the appointment of additional independent directors to the Board and is consulting with minority shareholders on this matter. The Company will update shareholders at the conclusion of this process.

Mr David McAdam will step down from the Board in the near future to enable the Board renewal process but will continue in an executive leadership role with the Company. David's retirement from the Board will be on or before the appointment of any new independent directors.

Shannon Coates will step down from the Board prior to the Company's 2019 Annual General Meeting to enable the Board renewal process, allowing her to transfer her significant knowledge and experience to new directors during the transition period.

The Chairman of Flinders, Mr Neil Warburton, said that "We are delighted to welcome Cheryl to the Board and look forward to drawing on her expertise to progress the Pilbara Iron Ore Project for the benefit of all shareholders. We thank Shannon and David for their service to the Board and their invaluable contribution to Flinders. We look forward to continuing a further process of Board renewal.'

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Posted By : Sanju Moirangthem on Thu, 20 Jun 2019
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