China Africa Resources On Look Out For Investments, Appoints New CEO

LONDON (Alliance News) - China Africa Resources PLC on Friday said it has appointed a new chief ...

Alliance News 17 February, 2017 | 1:46PM
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LONDON (Alliance News) - China Africa Resources PLC on Friday said it has appointed a new chief executive as it looks to find more opportunities to invest in natural resources projects.

The company, which effectively became a cash shell in 2016 when it sold off its sole asset interest, a stake in the Berg Aukas lead and zinc mine in Namibia.

Since then it has agreed to invest in a firm operating in the Kalahari copper belt in Botswana and bought nearly-half of a US lithium explorer.

On Friday, the group said it continues to look for further investment opportunities and has appointed David Linsley as its chief executive officer with immediate effect. He is a former executive director of mining consultant Behre Dolbear.

Elsewhere, the group said Paul Johnson and Nick O'Reilly will step down as non-executive directors, while Rod Webster will remain non-executive chairman and John Bryant will remain a non-executive director.

China Africa Resources said it expects to make further senior appointments in coming weeks in order to strengthen its board's expertise in the mining industry.

Shares in China Africa Resources were down 9.3% to 3.06 pence on Friday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
China Africa Resources PLC 2.36 GBX -10.10 -
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