mine will open on schedule, vows new boss

Friday, October 18


THE new managing director of Wolf Minerals has vowed the £150million Hemerdon tungsten and tin mine project will hit its 2015 deadline.

Russell Clark took the reins from Humphrey Hale at Wolf Minerals yesterday, with the outgoing head stressing there was nothing to worry about as a result of the hand-over.

"We have not brought in a toe-cutter or a head-crusher," Mr Hale said. "This is a managed change, not to fix a problem."

Mr Clark wasted no time stressing the open-cast mine, on the edge of Plymouth, would have its processing plant ready in less than two years as planned.

"We have to be confident," he said. "Although we recognise there are bumps in the road.

"But we need to make sure we are hitting time frames for the project to be successful."

Mr Clark, an Australia-based mining expert with 35 years of industry experience, said his first task is to meet stakeholders in the project.

That includes land-owners, banks, with a bridging loan due for refinancing before next June, and potential customers.

He described his arrival as managing director as "a managed and natural progression" and said he will be working with the Wolf team already assembled in Plymouth, though he would be mostly working from Australia.

Mr Clark, previously managing director at Australia's largest iron ore producer Grange Resources, said he was brought in because of his vast experience in creating and operating projects.

"I have worked in 15 different mines and built different projects," he said. "It's not that Humphrey can't do that, but it's quite natural in a project that the baton changes hands.

"We have to look at what Humphrey has achieved," he added. "Planning permission is in place, financing is in place, contracts for earth moving and the processing plant are in place, investment is in place, and the team is in place."

Mr Hale has overseen the Hemerdon project for the past seven years and will continue to work with Wolf in a consultancy capacity for three months to ensure an efficient hand-over.

Having steered the project through its initial phases, including securing a major funding package, he said: "I'm handing the baton to someone with more skills in developing operations."

When the project is operational it is expected it will employ 120 people and process 27million tons of tungsten during nine-and-a-half years.


http://www.thisisplymouth.co.uk/pound-150m-open-schedule-vows-new-boss/story-19953234-detail/story.html#ixzz2i4mHxDsv


Good luck to all that hold WLF