new ceo for sundance res., page-27

http://au.news.yahoo.com/thewest/business/a/-/wa/8094807/new-sundance-chief-last-piece-in-rebuilding/

New Sundance chief last piece in rebuilding
PETER KLINGER, The West Australian October 8, 2010, 6:39 am

Sundance Resources has a new boss, four months after the Africa iron ore hopeful's board perished in a plane crash in Congo's jungle.

It is understood that Sinosteel Midwest chief operating officer Giulio Casello will take over as Sundance's managing director and chief executive from early next month, replacing the late Don Lewis.

Mr Casello's appointment will complete the reconstitution of Sundance's board and executive ranks since the June plane crash that killed Mr Lewis, company secretary John Carr-Gregg and four other directors, including chairman Geoff Wedlock.

Under the guidance of returning Sundance chairman George Jones, a new-look board has been set up with Inco and BHP Billiton executive Robin Marshall the latest to join as a non-executive director.

Mr Marshall's appointment has freed up Perth investment banker Adam Rankine-Wilson, who was one of three emergency board appointments following the June plane crash, to resign.

The appointment of Mr Casello will also allow Sundance's acting chief executive Peter Canterbury to resume his earlier role of chief financial officer.

Mr Casello joined the Chinese-owned Sinosteel Midwest, which is trying to develop the Weld Range iron ore mine east of Geraldton, just over a year ago after the retirement of Bryan Oliver. Mr Casello previously worked for Century Aluminium Company, Alcoa and WMC.

Mr Casello joins Sundance at a critical juncture.

The Perth company is trying to secure finance for its $US3.4 billion ($3.44 billion) 35-million-tonne-a-year Mbalam iron ore project in Cameroon and Congo by the end of this year. It would allow Sundance to begin construction of Mbalam before the middle of next year.

Sundance has already signed memorandums of understanding with China Harbour Engineering Company and China Railway Construction Company for the funding and construction of Mbalam's key infrastructure, namely a 490km railway and the Lolabe port.
Sundance shares jumped 10 per cent to 28 yesterday.

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