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Bauxite Resources' new chief executive officer takes the reins

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Bauxite Resources’ (ASX: BAU) new chief executive officer and executive director Peter Canterbury has commenced employment today.

Canterbury joins Bauxite Resources from Sundance Resources (ASX: SDL), where he had been the chief financial officer for the past six years.

He played a key role in rebuilding the company as acting chief executive following the tragic plane crash in June 2010 which claimed the lives of the CEO and the entire Board.

Between 2001 and 2007, Canterbury was the chief financial officer of Dadco Europe which owns the Stade Alumina refinery in Germany and a share in the CBG bauxite mine in Guinea.

During this time there he was responsible for finance, commerce and logistics. Earlier in his career he held several senior positions with Alcoa World Alumina in the finance, marketing and projects areas in Australia and overseas.

Canterbury will bring his finance, commercial and marketing experience in the alumina and bauxite industry to lead Bauxite through the next significant stage of its development, which is centred on commercialisation of exploration tenements and development of two Joint Venture projects.

The company had earlier this month defined an initial bauxite resource of 26.8 million tonnes for its Fortuna Project in the Darling Range of Western Australia, increasing its global bauxite Resource by 14% to 223.3 million tonnes.

The bauxite within the Fortuna Resource is up to 13 metres in thickness and the high available alumina to reactive silica ratio is considered desirable for alumina refining.

Another drilling campaign to test for additional resources at Fortuna is scheduled to begin in late May.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Bauxite Resources

Price: 0.04 AUD

ASX:BAU
Market: ASX
Market Cap: $8.58 m
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