DGR Global appoints new chief executive officer for IronRidge Resources subsidiary

DGR Global (ASX: DGR) has welcomed Peter Williams to the chief executive officer’s seat of 80% owned subsidiary IronRidge Resources.

Williams has more than 20 years experience in the resources sector both in Australia and offshore, and has experience across a range of commodities including base and precious metals, industrial minerals and bulk commodities.

He was most recently managing director of the institutional banking sector at the National Australia Bank.

Williams started his career with Mount Isa Mines followed by operational and management roles at Mt Lyell and Norseman.

He subsequently worked in the finance sector (BankWest and ANZ), equity markets (Carmichael Capital Markets) and corporate advisory (Ernst & Young).

Williams said IronRidge Resources will be primarily focused on iron projects in equatorial west Africa, together with base metal and titanium projects in Australia.

“I am confident our strategy will yield sizeable high quality iron ore projects,” he said. 

“We believe current economics in the OECD nations should not affect the rapid growth rates in the industrialising nations such as China and India. Furthermore, we forecast continued strong prices for iron ore.”

IronRidge currently holds exploration permits covering about 5,000 square kilometres in a new iron ore province in the northern Surat Basin.

The company is investigating the potential for an 8 million tonne per annum operation at the Cadarga Prospect which is emerging as the highest priority project with deposits of sediment hosted iron ore returning assays greater than 40% iron and low phosphorus already identified.

Williams will take up his role with IronRidge in early January 2012.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/23409/dgr-global-appoints-new-chief-executive-officer-for-ironridge-resources-subsidiary-23409.html