HomeNewsMetorex restructures board

Metorex restructures board

Newly appointed
director Les Paton
Johannesburg, South Africa — MININGREVIEW.COM — 15 December 2008 – Metorex Limited – an independent mid-tier mining group currently active in base metals, industrial minerals, and gold – is restructuring its board, subject to ratification by Metorex shareholders, to comprise a maximum of three executive directors and a majority of non-executive directors.

The company said in a press release issued here that, pursuant to this objective, the following changes and intended changes to the board were announced:

Les Paton has been appointed as an independent non-executive director. Fifty-six-year-old Paton, is technical director of Impala Platinum Limited, and has 34 years of mining experience with Impala and the Gencor Group.

Current board chairman A.S. Malone will tender his resignation subsequent to the annual general meeting on 20 January 2009. A new non-executive chairman will be proposed by the board as a replacement for Mr Malone.

Current executive directors K.C. Spencer and E. Legg will resign as directors of the company, but will continue assisting Metorex as technical advisers to the group, and as alternate directors to new independent appointments to the board.

Current alternate director Maritz Smith will be appointed as group financial director with immediate effect.

Non-executive director G.A. Forrest (Snr) has resigned with immediate effect, and has nominated an alternative representative to take his place. Metorex welcomes the appointment of Pierre Chevalier to the board. He is a Belgian national with extensive experience of conducting business in the Democratic Republic of the Congo.