Fortescue Metals Group announced the resignation of Chief Operating Officer Greg Lilleyman and two other executives after a review of the miner’s Iron Bridge magnetite project in Western Australia.
Don Hyma, director of projects, and Manie McDonald, director of Iron Bridge, have also resigned from the company. Derek Brown has been appointed as acting director of projects, bringing more than 35 years mining sector experience across senior operational roles as well as large project development, both in Australia and overseas. Brown most recently held the position of general manager of Solomon.
Commenting on the leadership changes, Fortescue CEO Elizabeth Gaines said, “At Fortescue, our commitment to our values and culture is our highest priority. What we’ve learned through our review of the Iron Bridge project to date, is that we have lost sight of that critical focus.
“Since Fortescue was established, our values, above all else, have driven our behaviours and our decisions. These values were allowed to slip inside the Iron Bridge team.”
The review of the high-grade ore project indicated a revised preliminary total investment of up to US$3.0 billion from $2.6 billion with first production delayed six months to the second half of 2022, subject to validation through further assessment and Iron Bridge Joint Venture approval.
A 12-week technical and commercial assessment has commenced, with limited project works on critical path items to continue during that time. These items include engineering, off-site fabrication, procurement activities and site-based civil works.
Source: Fortescue Metals Group