Chief Executive of Energy Resources of Australia resigns

Chief Executive of Energy Resources of Australia resigns

SYDNEY, AUSTRALIA: Paul Arnold has resigned as Chief Executive and Managing Director of Energy Resources of Australia Ltd (ERA).

He will be taking a period of leave for personal reasons, following which he will return to Rio Tinto to assume a new role. Recruitment for a replacement will commence immediately.

In the meantime the ERA Board has appointed Brad Welsh as Acting Chief Executive of Energy Resources of Australia with immediate effect. Brad was most recently the Chief Advisor Closure Strategy Non-Managed Assets with Rio Tinto. His previous roles include Chief Advisor Indigenous Affairs with Rio Tinto and acting General Manager of the Weipa bauxite operation in Far North Queensland.

Brad is seconded from Rio Tinto under an agreement between ERA and Rio Tinto. A summary of the key terms of Mr Welsh’s employment arrangements are in the attached schedule.

The Chairman and Directors of ERA are deeply appreciative for the contribution Paul Arnold has made during his four years at the helm of ERA. Since commencing with ERA in August 2017, Paul successfully steered the Company through the final years of production during a period of considerable uncertainty and market instability.

Amongst Paul’s achievements is the inaugural submission and publication of ERA’s Ranger Mine Closure Plan, overseeing the execution of the critically important progressive rehabilitation activities at Ranger, the successful completion of a capital raising in early 2020 and leading the business transformation program, which has delivered substantial value to the Company.

Energy Resources of Australia Chairman Peter Mansell said: “Paul’s commitment to workplace safety, to protecting the environment and in demonstrating the utmost respect for the Mirarr Traditional Owners of the land on which ERA operates, has been exemplary. We thank Paul for his dedication and his compassion for all people. We wish him well for the future”.

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