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Appointment of Managing Director & Chief Executive Officer

Posted 05 September 2014

ASX Releases

Further to announcements made earlier in the year about CEO succession, OZ Minerals is pleased to announce, after completing an external search, the appointment of Andrew Cole as the Company's new Managing Director and CEO.

Andrew Cole is scheduled to commence at OZ Minerals on 3 December 2014 and will be relocating from Canada. Mr Cole will join the Company from Rio Tinto, where he has enjoyed a successful career over 22 years. Andrew's most recent role was Chief Operating Officer Rio Tinto Iron and Titanium, based in Canada. Prior to this he held a range of senior positions including CEO Chinalco Rio Tinto Exploration JV China; General Manager Operations Rio Tinto Coal Australia and Mining Executive Diamonds, Rio Tinto London.

Andrew holds a Bachelor of Applied Science - Geophysics (Hons) from Curtin University and has significant technical and operational experience across a range of commodities.

OZ Minerals Chairman, Neil Hamilton welcomed the appointment and said: “we are delighted that Andrew is joining OZ Minerals and bringing the requisite skills and background to lead OZ Minerals though its next phase. His mining experience covers the full mining value chain and he has a proven track record in leading and developing people.”

Mr Cole said, “I am very excited about the opportunity of joining OZ Minerals and to return to Australia to lead an Australian listed mining company. I look forward to meeting the team and working with them to deliver on the Company's potential.”

Mr Hamilton also expressed the Board's appreciation to Terry Burgess for his strong commitment during his five years as Managing Director and CEO. Mr Hamilton said that "under Terry’s stewardship, OZ Minerals had a disciplined balance between pursuing strategic growth and rewarding shareholders for their investment with approximately $1.2 billion returned to shareholders while maintaining a strong balance sheet.

Prominent Hill delivered consistent throughput, well above nameplate capacity, successfully developed the Ankata Underground operation with a second underground mine coming into production in coming weeks and, after a challenging year in 2013, is now moving back towards the annualised production run rate of 100 Download pdf 87 KB