Conquest Mining lifts NQM stakes, nears takeover realisation
Australian gold company Cleveland Mining today announced it has secured mining heavy-weight Donald Bailey as a non-executive director.
Mr Bailey was Rio Tinto's Deputy Mining Director, a role in which he was responsible for the Company's operations in South America, southern Africa and Continental Europe, a statement from Cleveland Mining said.
Mr Bailey joins two former Fortescue Metals Group executives on the Board: David Mendelawitz, Fortescue's former Head of Business Improvement, who takes the mantle of CEO, and Jim Williams, FMG's former Head of Mining and now a Non-executive Director with Cleveland.
Mr Mendelawitz said that few people in the mining industry have the credentials of Don Bailey.
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"For half a century, Mr Bailey has been a respected figure in both mining pits and boardrooms across the world. He brings an encyclopaedic understanding of the technical, financing and corporate aspects of mining projects to Cleveland," he said.
"Mr Bailey knows how successful gold mines are built in Brazil after leading the Morro do Oro gold project in Minas Gerais state, the state neighbouring Cleveland's operations in Goiás."
"Since Cleveland Mining was founded fourteen months ago, the Company has acquired five mining projects in the Crixás goldfields of central Brazil. We have built an excellent team and a large scale drilling program is underway."
In August, Cleveland Mining Limited said it plans to list on the Australian Stock Exchange.
This article is copyrighted by IBTimes.com.au, the business news leader