Bauxite Resources Limited: Resignation Of Managing Director
31.05.2010 | ABN Newswire
11:10 AEST May 31, 2010 ABN Newswire (C) 2004-2010 Asia Business News PL. All Rights Reserved.Perth, Australia (ABN Newswire) - Bauxite Resources Limited (ASX: BAU) (PINK: BXRDF) is announcing that Mr Dan Tenardi has resigned effective immediately as Managing Director.
Dan has led a team that has expanded the company's landholdings, commencement of trial shipments and entered into strategic relationships with key Chinese partners in both the Yankuang Group and Shandong Bureau.
Mr Dan Tenardi wishes to make the following statement;
'The past eighteen months has seen BRL grow to an organisation with great potential and support from its Chinese partners. I will now be taking time-out to pursue new opportunities. I would like to thank the loyal staff who have supported me over the past eighteen months'.
The Chairman of Bauxite Resources Ltd, Mr Barry Carbon stated that Mr Tenardi had achieved the goals set for him by the board and thanked Mr Tenardi on behalf of the board and management for his efforts.
The company has commenced the search for a suitable replacement for Mr Tenardi. In the interim Mr Carbon will act as CEO.
About Bauxite Resources Limited:
Bauxite Resources Limited (ASX:BAU) was launched in May 2006 to establish itself in the bauxite and alumina industries in Western Australia where four of the seven Australian alumina refineries and four of Australia's bauxite mines are located. It listed successfully on the ASX on 22 October 2007 after closing its A$7.5 million IPO early and oversubscribed, having previously raised approximately $1.3 million in seed capital. In February 2009 the Company raised a further $4.7 million on the uptake of its options issue.
The Company is the only ASX-listed bauxite explorer in the highly prospective Darling Range, and is the largest tenement holder in the Darling Range with approximately 15,000 square kilometres of prospective bauxite laterite ground. To put this into context this area is larger than East Timor and almost the size of Beijing Municipality.
The Darling Range is the largest bauxite mining and alumina producing region in the world. This area supplies approximately 18% of the world's alumina and is home to Alcoa's Huntly Mine, the largest producing bauxite mine in the world and Pinjara Refinery the second largest alumina refinery in the world. The Darling Range has three of the top five refineries in the world in terms of lowest operating costs.
Contact:
Paul Fromson
Company Secretary
Bauxite Resources Limited
Tel: +61-8-9221-5019
http://www.bauxiteresources.com.au