SYDNEY AUSTRALIA: Magnetite Mines Limited announced the appointment of Mr Tim Dobson as Chief Executive Officer, effective from 23rd August 2022, completing a process announced on 19th April this year.

Mr Stephen Weir, who has been Acting Chief Executive Officer since April, will resume his role as Chief Development Officer.

Mr Dobson is a highly-accomplished resources executive with more than 30 years’ international experience in senior leadership roles. He has a track record of successfully developing, operating, and transforming mining projects and operations. He holds a degree in Extractive Metallurgy from the WA School of Mines.

Most recently, Mr Dobson was Chief Executive Officer of ASX-listed Heron Resources. He arrived in the role as COVID-19 impacts forced mine closure in early 2020 and established a strategic process leading to the refinancing and resumption of mining operations.

Before that, Mr Dobson worked for six years with Sherritt International Corporation. He was President of the US$8bn Ambatovy nickel operations in Madagascar, which had 7,000 personnel during its transition from early ramp-up to stable operations, and achieved financial completion of the US$2.2bn syndicated bank loan associated with the project. He went on to assume responsibility for Sherritt’s nickel operations in Canada and Cuba.

Prior to this, Mr Dobson held a series of executive leadership and CEO/MD roles with Norilsk Nickel, Lihir Gold, and ASX-listed Kimberley Rare Earths, Anova Metals and Polymetals, where he led the development of the successful White Dam project in South Australia.

Magnetite Mines’ Chair Mark Eames commented on the appointment: “This appointment is the outcome of an extensive recruitment process, commenced in April, that attracted an exceptional field of internal and external candidates. I would like to thank Stephen for his outstanding work as Acting CEO in the interim.

“We are excited to have Tim join Magnetite Mines at an important point in the Company’s development as we take our Razorback Iron Ore Project on a pathway into operation. Tim brings a wealth of experience working with large, complex international projects and working effectively with stakeholders to maximise value for shareholders.

“The Razorback Iron Ore Project is a highly-competitive, long-life opportunity with the capability to deliver high-grade iron ore products. With emission reduction in the global steel industry expected to trigger a growing appetite for high-grade iron ore products, Magnetite Mines offers an attractive value proposition. Tim has a demonstrated track record of successful leadership and is well placed to lead the Magnetite business to deliver value for shareholders.”

Incoming CEO Tim Dobson said he is excited about the opportunity to lead Magnetite Mines Limited: “Magnetite Mines has a great team and exceptional assets, with a development timetable that is poised to meet the rapidly changing needs and decarbonisation agendas of the global steel industry. My focus will be on developing the Razorback Iron Ore Project and realising the significant value potential of this world-class resource.

“I am looking forward to working with Magnetite’s board and management team to progress and optimise this compelling project, with the objective of delivering excellent returns to our shareholders.”