Simon Smith has resigned from his role as CFO and co-Company Secretary at Magnetite Mines (ASX:MGT), effective 7 March 2025.
Inthu Siva, who is currently co-Company Secretary and Financial Controller, will assume the role of Company Secretary while continuing to retain responsibility for the core of Magnetite Mines’ financial activities. Siva has been employed by the company since 2010.
Magnetite Mines has also engaged the services of Mark McManus on a consulting basis to support commercial negotiations and transactions as the company progresses its strategic partnering activities for the development of the Razorback Iron Ore Project.
McManus was President of Prodeco, Glencore (LSE:GLEN) from 2013 to 2019, and prior to this held global executive positions with Xstrata for 11 years.
Magnetite Mines is an ASX-listed iron ore company focused on the development of magnetite iron ore resources in the highly-prospective Braemar iron region of South Australia.
The company has a 100% owned mineral resource of 6 billion tonnes of iron ore and is developing the Razorback Iron Ore Project, located 240km from Adelaide, to meet accelerating market demand for premium iron ore products created by iron and steel sector decarbonisation, with the potential to produce high-value Direct Reduction (DR) grade concentrates.
Razorback is set to become a very long-life iron ore project with expansion optionality in a tier one jurisdiction that will produce a superior iron ore product sought by steelmakers globally.
Write to Adam Orlando at Mining.com.au
Images: Magnetite Mines
