Alwyn Vorster has been appointed as BC Iron’s new chief executive officer, with managing director Morgan Ball stepping down from both his position and the board.
The mutually agreed decision was reached after consideration by the board over the future direction of the company.
BC Iron chairman Tony Kiernan said Ball was an outstanding managing director for the company and leaves with a clean balance sheet. He worked for the company for seven years, and was managing director for the last three and half years.
“During this period Morgan has overseen and managed material company growth across two operations whilst more recently overseeing and implementing the difficult but necessary decision to place our Nullagine Joint Venture into temporary suspension.”
The joint venture was halted in December last year due to the decline in the price of iron ore.
Ball said he was privileged to have worked for the company despite difficult times.
“I am particularly proud of the fact that over this period we have been able to return substantial funds to our shareholders via healthy dividends,” he said.
“Whilst the last two years have been particularly challenging for BC Iron, I believe we have met these challenges head on and made the right decisions on behalf of the shareholders.”
Vorster has more than 25 years’ experience in both technical and commercial roles in the mining sector. His precious roles include group executive mining at Australian Capital Equity and CEO of API management, the group responsible for developing the West Pilbara Mining Project.
He will take up the position on 23 May 2016.