Gindalbie Metals is handing over leadership of Karara Mining, with the venture's major shareholder, Chinese steelmaker AnSteel, appointing a new chief executive.
The owners of the Karara iron ore project have transfered Gindalbie Metals boss Dale Harris to a chief executive role at Karara Mining, in an apparent bid to bring the trouble-plagued project back on track.
Chinese steelmaker Ansteel has taken majority ownership of the Karara iron ore project, lifting its stake above that of Gindalbie Metals after converting shareholder loans to new equity in Karara Mining.
Gindalbie Metals has progressed its relationship with AnSteel, today announcing the appointment of two more representative from the Chinese entity to the board.
