Perth-based explorer Lindian Resources has announced plans to acquire a majority stake in a bauxite mine in Tanzania in a deal worth nearly $2 million, despite recently introduced legislation mandating increased government ownership of local projects and higher royalties on some minerals.
Matthew Wood has resigned as executive chairman and director of Lindian Resources, with current non-executive director Eddie King stepping into the chairmanship.
Serial business fixer Geoff Gander has stepped down from the board of Lindian Resources Ltd, formerly VPH Ltd, after the company closed a recapitalisation float oversubscribed at $1.6 million.
