Resource veteran takes reins as Magnetite moves to develop Razorback
Magnetite Mines has appointed veteran resources executive Tim Dobson as its new Chief Executive Officer to help drive its Razorback Iron Ore Project towards production.
Dobson has more than 30 years’ international experience in senior leadership roles and was most recently the CEO of Heron Resources, which he joined in early 2020 as Covid-19 impacts forced mine closures and established a strategic process leading to the refinancing and resumption of mining operations.
Prior to that, he worked for six years with Sherritt International Corporation where he was president of its US$8bn Ambatovy nickel operations in Madagascar during its transition from early ramp-up to stable operations before assuming responsibility for the company’s nickel operations in Canada and Cuba.
He has also held a series of executive leadership roles with Norilsk Nickel, Lihir Gold, Kimberley Rare Earths, Anova Metals and Polymetals. The last saw Dobson lead the development of the successful White Dam project in South Australia.
With his appointment, Stephen Weir, who has been acting CEO since April, will resume his role as Chief Development Officer for Magnetite Mines (ASX:MGT).
“We are excited to have Tim join Magnetite Mines at an important point in the company’s development as we take our Razorback Iron Ore Project on a pathway into operation,” Chair Mark Eames said.
“Tim brings a wealth of experience working with large, complex international projects and working effectively with stakeholders to maximise value for shareholders.
“The Razorback Iron Ore Project is a highly-competitive, long-life opportunity with the capability to deliver high-grade iron ore products.
“With emission reduction in the global steel industry expected to trigger a growing appetite for high-grade iron ore products, Magnetite Mines offers an attractive value proposition.”
A recent Expansion Study shows the attractive returns commensurate with economies of scale once production increases to 5Mtpa and 7Mtpa by replicating the processing modules designed by Hatch.
Razorback is currently expected to mine about 1.4 billion tonnes of ore over 30 years of operations. This represents just 32% of the project’s JORC indicated and inferred mineral resources, providing potential to expand its mine life.
This article was developed in collaboration with Magnetite Mines, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.