IronClad Mining has hired the former Brockman Resources Managing Director, Wayne Richards. Mr Richards is to join IronClad mining six months after an international search was initiated by the company for a new executive.
Wayne Richards has the distinction of taking Brockman Resources from a $30 million market capitalization to $1 billion market capitalization prior to being taken over by the Hong Kong based Wah Nam group towards the end of last year. The Wah Nam group acquired a majority stake in Brockman Resources in September.
This was when Mr Richards left the company. Before Brockman Resources he was a senior executive in BHP Billiton’s iron ore division. Ian Finch, the IronClad executive chairman said that Mr Richard was the outstanding candidate for the job. Mr Finch is now to step back into a non executive role.
Mr Finch said that a person of Wayne's experience and calibre was the precise individual they need to drive the day-to-day operations of their company. They pursued Wayne for the position given his extensive iron ore and corporate experience, including mine to market knowledge, as well as his outstanding track record of getting projects developed.
IronClad is now prepping for production at the Wilcherry Hill iron ore project in the Eyre Peninsula. The first two years worth of production has already been sold to steel mills. The mine is likely to export one million tons of iron ore per year.
Mr. Richards said that the Wilcherry Hill mine and Hercules project had enormous potential. He also said that he would initially focus on growing the company’s production to 10 million tonnes per year. He added that the company had the strategic advantage of being the first direct shipping ore magnetite producer and exporter in the world, with a significant opportunity to expand the business both organically and via potential future corporate activities.