Barminco appoints new CEO

BARMINCO APPOINTS NEW CEO

Leading underground hard-rock mining contractor, Barminco Holdings Limited (Barminco or the Company), is pleased to announce Peter Stokes has been appointed as Chief Executive Officer.

Mr Stokes has more than 20 years of experience in the resources and mining service-related industries, most recently as Chief Operating Officer at logistics group Linfox Australia.

Barminco Chairman Jock Muir said Peter’s diverse experience made him an excellent appointment as CEO.

“We selected Peter after an extensive executive search process for the best candidate and I am delighted to welcome him to the role,” Mr Muir said.

“Under Peter’s leadership, I strongly believe we will build on the ongoing strong improvement in our financial performance over the 2012 calendar year.

“This growth strategy will be funded through Barminco’s cash flows from operations, which continues to adequately cover our capital expenditure programs and financing costs.”

Mr Stokes will commence as Barminco CEO in February 2013. Chairman Jock Muir has been acting CEO since February 2012.

Peter Stokes

Peter has more than 20 years of experience in the resources and mining service-related industries. He was most recently Chief Operating Officer at Linfox Australia, where he was responsible for the resources & industrial, fast moving consumer goods, and retail business units, with a revenue base of A$1.5 billion and 15,000 employees across nine countries in the Asia Pacific region.

Prior to his appointment as COO in 2011, Peter spent five years as president of Linfox’s resources and industrial unit, where he oversaw a more than 70 per cent increase in revenue.

Peter previously worked in the resources division at global management consultant company Accenture for more than 10 years, including four as a Partner.

Peter holds an MBA from Bond University, a Master of Applied Science (Mining & Mineral Technology) from Curtin University’s WA School of Mines, and a Bachelor of Science (Honours) from the University of Western Australia. He has also completed the Advanced Management Program at Harvard Business School.

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About Barminco
Barminco’s business was established in 1989 and has operations primarily in gold, copper and nickel ore deposits. It offers clients a full suite of underground mining services from mine development to production with one of the largest fleets of self-maintained underground mining equipment in Australia. A separate diamond drilling business operates more than 60 drill rigs.

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