Rex Minerals appoints CFO as it gears up for business transformation

New finance chief comes as the South Australian organisation moves from exploration business into developing and mining of copper-gold assets

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Rex Minerals (ASX: RXM) has appointed a new CFO as part of a business shake-up designed to transform the company’s focus from exploration to developing and mining.

Rachel Rees will replace former finance chief, Janet Mason, who remains as financial controller. Rees was most recently group company secretary for Hills Holdings, where she was responsible for implementing an enterprise risk management program.

Prior to that, she was the vice-president of corporate affairs Australia for Uranium Ore, also an ASX-listed company. During her tenure there, she was on the management team and the joint venture board that developed Australia’s fourth uranium mine from a feasibility study to an emerging producer.

“The appointment of a CFO with Rachel’s experience and capabilities will greatly enhance the ability of Rex to progress and finalise the various funding alternatives that are now well advanced as well as assist in the company transforming from an explorer to developer/producer,” Rex managing director, Mark Parry, said in a statement.

Rees’ resume also includes previous roles as an auditor with PricewaterhouseCoopers and tax partner of a chartered accounting firm, as well as a variety of operational roles in industries including mining, industrial, electronics, agriculture, retail, television and transport.

She is also chair of the Institute of Chartered Company Secretaries South Australia and Northern Territory State council, director of the National Board, a fellow of the Taxation Institute of Australia and a fellow of the Institute of Chartered Accountants.

Rex Minerals recently struck a memorandum of understanding with China Nonferrous Metal Industry’s Foreign Engineering and Construction company, and Arrcon, for financing, construction and development of the Hillside Project on the Yorke Peninsula in South Australia valued at US$550 million.

The copper-gold project is expected to be one of many for the firm in the Yorke Peninsula.

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