25 Oct 2010 07:00
25 October 2010
Bellzone Mining plc
("Bellzone" or the "Company")
Appointment of Chief Commercial Officer
• Mr Raj Kandiah appointed as Chief Commercial Officer
• Responsible for ensuring the integrated commercial success of Bellzone as the Company progresses the Kalia Iron Mine and related infrastructure projects
• Mr Kandiah brings over 20 years mining and commodities experience
• Previously held a number of senior management positions within the industry in organisations such as Rio Tinto, Alcoa of Australia, Hamersley Iron and Argyle Pink Diamonds
Bellzone Mining plc (AIM:BZM), the iron ore and nickel/ copper exploration company developing the Kalia Iron Mine in the Republic of Guinea, West Africa, is pleased to announce the appointment of Mr Raj Kandiah as Chief Commercial Officer effective 11th October 2010.
Mr Kandiah holds a Bachelor of Science degree from Deakin University and a Masters of Business Administration from the Australian Graduate School of Management and has over 20 years experience in the mining industry and brings a wealth of commercial knowledge in commodities from iron ore to bauxite, through to diamonds and base metals. He has held a number of senior management positions including; General Manager, Argyle Pink Diamonds where he was responsible for the balance sheet of the business; Global Practice Leader, Rio Tinto Marketing Centre where he led a number of significant change management programmes; Marketing Manager, Hamersley Iron; and Sales and Marketing Manager, Alcoa of Australia where he was lead negotiator. He has also been responsible for business critical strategy and business development initiatives in the companies he has worked for.
In addition, Mr Kandiah has acted as an independent adviser, running his own consultancy, advising mining companies and other businesses on a range of commercial aspects. He has also educated MBA students at the Australian Graduate School of Management in the field of marketing.
He will primarily be responsible for ensuring the integrated commercial success of Bellzone as the Company progresses the Kalia Iron Mine and related infrastructure projects with joint venture partner, China Investment Fund.
Commenting on the appointment Nik Zuks, Managing Director of Bellzone Mining plc said, "Bellzone's executive team is strengthened with Raj's appointment and we continue to add quality experienced team members to drive the corporate development of the Company. Raj's extensive experience in developing and negotiating commercial contracts and key market deals will be of immense value to us as we undertake tariff, off-take and contract negotiations."
Enquiries:
Bellzone Mining plc
Nik Zuks +61 439 420 893
Canaccord Genuity Limited
Nominated Adviser and Joint Broker to Bellzone Andrew Chubb/Tarica Mpinga +44 (0)20 7050 6500
Renaissance Capital Limited
Joint Broker to Bellzone Simon Matthews/Thomas Beattie +44 (0)20 7367 7777
Conduit PR
Jos Simson/Paul Youens +44 (0)20 7429 6610 / +44 (0) 7899 870 450
Bellzone Mining plc
Bellzone Mining plc is an iron-ore and nickel/ copper exploration and development company with assets in Guinea, West Africa. The Company's flagship project, the Kalia Iron Mine has a maiden inferred magnetite JORC resource of 3.7 billion tonnes, located on 6km of the 19km the Kalia I prospect. Internal estimates indicate that the 29km Kalia Prospect has the potential to host more than 10 billion tonnes of magnetite and 2.9 billion tonnes of oxide at surface. Exploration work continues to further define the potential at Kalia. The SEIA and EIA studies are underway to support the completion of the Bankable Feasibility Study.
Bellzone intends to develop a 50 million tonnes per annum ('mtpa') iron ore production through a two staged approach. First production is expected in 2014 at a rate of 20mtpa which is expected to fund the ramp up period to a rate of 50mtpa in 2018. Bellzone announced, on the 31st od August 2010, it had secured the Convention by Presidential decree, which defines the fiscal terms and conditions and development obligations of the Company and State for the Kalia Iron Project.
Bellzone announced the Presidential decree of Infrastructure Accord with the Guinea Governemnt on 31st of August 2010. The Accord gives Bellzone the exclusive rights to study and develop the rail and port infrasturtcutre required to support the Kalia Iron Project.
On 2 August 2010, Bellzone signed definitive agreements with China International Fund ('CIF') which provides for the full financing of the rail and port infrastructure and the Kalia mine development in return for the rights to purchase 100% of the off-take at market price. In addition Bellzone and CIF will develop the highly prospective CIF Forecariah iron ore leases under a 50/50 jiont venture arrangement. This will provde and opportunity to produce early cash flow for the Company.
Bellzone is listed on the AIM market of the London Stock Exchange under the ticker 'BZM'.