Base Resources Limited

Receive alerts
Market Cap:
£164.92 m
14.00 GBX
52 weeks high
52 weeks low

Our Approach

Base Resources exists to enrich our people, our communities in which we operate and our shareholders through the creative development of mineral resources.

Our approach and business practices are founded on a set of core principles that together form the “Base Way”.

The Base Way is based on our belief in:

  • The potential of our people
  • The power of the team
  • The value of resources
  • Absolute integrity

From project development through to operating mines, we have adopted world-class, inclusive business practices that seek to minimise any negative impacts and maximise positive outcomes of our operations.

This includes a commitment to safety and operational performance, the recruitment and training of local people, a preference to work with local suppliers, extensive and effective community programs and a commitment to operating in a sustainable and environmentally responsible manner.  

With this approach, Base Resources is recognised as a leader in the African resources industry with an enviable track record of excellence in safety, community engagement and environmental stewardship.

Kwale Operations

Kwale is a rutile rich, low cost operation located 50 kilometres south of Mombasa, Kenya.

Learn about Kwale Operations


Toliara Project

Learn about the Toliara Project.



The Company operates the established Kwale Operation in Kenya and is developing the Toliara Project in Madagascar. Base Resources is headquartered in Perth, Australia


Keith Spence
BSc (Geophysics) (Hons)
Non-Executive Chairman

Mr Spence has over 30 years of experience in the oil & gas industry with Shell and Woodside. He retired from Woodside in 2008 after 14 years in senior executive roles including Chief Operating Officer and acting Chief Executive. Mr Spence is currently a Non‐Executive Director of Independence Group NL and Murray & Roberts Holdings Ltd (listed on JSE). Mr Spence was also Chairman of Clough Limited before its acquisition in late 2013.

Mr Tim Carstens
Bcom, ACA
Managing Director

Mr Carstens brings a diverse and substantial skill set to the development of Base Resources, having previously held senior executive roles with Perilya Limited, North Limited, Robe River Iron Associates, Iron Ore Company of Canada and St Barbara Mines Limited in operations, strategy, corporate development and finance, both in Australia and overseas. A chartered accountant by profession, he has successfully managed all aspects of business strategy development and implementation, acquisitions and divestments, debt and equity financing, organisational development and operational performance. Mr Carstens is also the Chairman of the Australia-Africa Minerals & Energy Group (AAMEG).

Mr Colin Bwye
BEng (Hons)
Executive Director – Operations & Development

Mr Bwye has over 25 years’ experience in the mineral sands sector, having commenced his professional career with RGC Mineral Sands (since consolidated into Iluka Resources) as a plant metallurgist in 1988. He undertook a number of technical, production and mining roles within RGC and then, after a period of time consulting to the industry, joined Doral Mineral Industries, a subsidiary of Iwatani Corporation of Japan. Here he was a leader in the development and operation of the Dardanup mineral sands mine in Western Australia before taking on the role of managing director and becoming accountable for the fused materials (zirconia and alumina) processing facilities as well as the mineral sands operation. In 2010 Mr Bwye joined Base Resources as Executive Director – Operations and Development.  Mr Bwye has an extensive knowledge of all aspects of the mineral sands industry, including downstream processing and marketing of mineral sands products. He was born in Kenya and lived there prior to migrating to Australia in 1987 and so brings a deep understanding of the country and its culture.

Mr Samuel Willis
Non-Executive Director

Mr Willis is an experienced company director in the resources and energy sectors and is currently a director of Checkside (a consulting firm that specialises in Strategic HR, Recruitment and Leadership), as well as non-executive director of oil and gas explorer Elixir Petroleum Limited. Mr Willis provides Base Resources with in excess of 15 years’ experience and expertise in capital markets, corporate finance and executive board involvement with emerging small and mid-cap companies.

Mr Michael Stirzaker
Non-Executive Director

Mr Stirzaker has over 30 years’ commercial experience, mainly in mining finance and mining investment.  He began his career in Sydney as a Chartered Accountant with KPMG, having obtained a Bachelor of Commerce from the University of Cape Town.  He moved into investment banking with Wardley James Capel (part of the HSBC Group) and then Kleinwort Benson Limited in London.  From 1993 to 2007 he was part of the natural resource advisory and investment firm, RFC Group Limited, where he became Joint Managing Director.  He has also been a shareholder and Director of Tennant Metals Pty. Limited, a privately owned physical metal trader and investor, and was the Finance Director of Finders Resources Limited, an ASX listed company with copper & gold projects in Indonesia.  In 2010, Mr Stirzaker joined the private equity mining fund manager, Pacific Road Capital Management Pty Limited as an Executive Director.  Pacific Road Capital is a major shareholder of Base Resources, with Mr Stirzaker appointed as Pacific Road Capital’s nominee on the Base Resources Board.

Mr Malcolm Macpherson
Non-Executive Director

Mr Macpherson is an accomplished business leader, with decades of experience in the global mining industry at executive management and board level.  Mr Macpherson spent 25 years from 1974 at Iluka Resources Limited, the world’s largest mineral sands company, rising from mine manager to Managing Director and Chief Executive Officer. He has previously held the position of Chairman with Azumah Resources Limited and Western Power Corporation and been a director of Portman Mining Limited and Minara Resources Limited. Mr Macpherson has also been the Senior Vice President of the Minerals Council of Australia, President of the Western Australian Chamber of Minerals & Energy, and a member of the Senate at Murdoch University.

Ms Diane Radley
BComm BCompt (Hons), CA(SA), MBA, AMP (Harvard)
Non-Executive Director

Ms Radley has over 25 years experience in senior leadership roles across multiple industries, most recently in financial services and investments. She served as CFO at Allied Electronics Corporation (JSE), Group FD at Old Mutual South Africa, and CEO of Old Mutual Investment Group. Prior to this she advised on a variety of transactions, listings and due diligences for large corporate acquirers and private equity funds in her role as Partner-in-charge of Transaction Services at PricewaterhouseCoopers in South Africa. Ms Radley is currently a non-executive director of Murray & Roberts Holdings Ltd (JSE) and a trustee of the DG Murray Trust.


Kevin Balloch
Chief Financial Officer

Mr Balloch has over 25 years’ practical financial and management experience in a diverse range of industries. This experience has involved all areas of corporate and treasury management, project financing, capital raisings, mergers and acquisitions, dual listings, feasibility studies and establishment of systems and procedures for new mining operations. Prior to joining Base, Mr Balloch held senior positions with Equinox Minerals Limited, a dual listed TSX – ASX resources company which developed the major Lumwana Copper mine in Zambia and resulted in Equinox being one of the world’s top 20 copper producers.

Stephen Hay
General Manager, Marketing

Mr Hay has 17 years of experience in the mineral sands sector with the past 14 years in mineral sands sales and marketing. Mr Hay worked for BHP Iron Ore and Woodside Petroleum before joining Iluka Resources in 1999. After establishing Iluka’s Shanghai office in 2008 and building it into a critical platform for Iluka’s business in the Chinese market, Mr Hay relocated back to Australia in 2011 to establish a minerals trading business for Iluka before joining Base Resources in 2012. Stephen has extensive knowledge and experience across all aspects of the mineral sands industry with a significant emphasis on products and markets.

Denham Vickers
BSc(Hons) Mining Engineering
General Manager, Operations

Mr Vickers is a mining engineer with over 35 years’ minerals industry experience in a variety of senior operational, development and consultancy roles. Mr Vickers graduated from Imperial College, London, with an honours degree in mining and has developed and managed various underground and open pit mining operations throughout Africa, South America and the South Pacific. Prior to joining Base, his most recent role was as Operations Manager for the development, commissioning and operationalisation of the Bisha VMS deposit in Eritrea for Nevsun Resources.

Colin Forbes
BSc Geography
General Manager, Environment & Community Affairs

Mr Forbes has considerable experience in environmental and social aspects in the resources industry. His previous positions included Social and Community Manager for African Minerals Ltd. in Sierra Leone and Resettlement Project Manager for Kibali Goldmines in the Democratic Republic of Congo. Prior to these, as Health, Safety, Environment and Community Manager for Tiomin Kenya Ltd., he managed the successful completion of the Kwale Mineral Sands Projects resettlement programmes and environmental and social impact assessments. He brings the necessary understanding of complex consultation requirements and has the demonstrated ability in team building and project management.

Since joining Base Titanium in 2011, he has developed the environment, community and security teams and now leads a contingent of just over 130 staff. The focus of his programmes are to foster a sense of mutual benefit with surrounding communities and stakeholders. This is achieved through enhancing relationships with local communities by the implementation of various community and environment projects. He is currently implementing a sophisticated agricultural livelihoods programme which brings together communities and other local stakeholders with market players and donor organisations to achieve sustainable development for smallhold farmers in the project area.

He has lived in various parts of Africa for over 40 years and, having spent most of those in Kenya, is now a Kenyan citizen. This background provides an acute understanding of social and environmental challenges in the area of Base’s operations.

Andre Greyling
BEng (Civil), PrEng
General Manager, Project Development

Mr Greyling is a civil engineer with 30 years’ experience in the development and implementation of projects in Africa and Australia. He held senior positions in engineering companies before joining Base Resources. Most recently he was the COO of Wave International (Pty) Ltd in Australia and before that the COO of Bigen Africa (Pty) Ltd, one of the leading engineering companies in Africa. Mr. Greyling was involved with the Kwale project since 2011 and played a significant role in the development and implementation of the access road, power supply, port facilities, water storage dam and tailings storage facility.

Jean Bruno Ramahefarivo
General Manager, External Affairs (Madagascar)

Mr Ramahefarivo has over 25 years of experience in mining, government and the not-for-profit sectors across Africa. Mr Ramahefarivo has responsibility for all aspects of stakeholder engagement for Base Resources in Madagascar including sustainable development, governance, corporate social responsibility, external affairs and socioeconomic project management. Prior to joining Base Resources his previous engagements spanned the mining, government and humanitarian organisation sectors, including roles with Rio Tinto and the Government of Madagascar.

Chadwick Poletti
LLB (Hons), BCom
General Counsel & Company Secretary

Mr Poletti is a practising lawyer and holds a Bachelor of Commerce majoring in Finance and Accounting. Mr Poletti has broad experience in advising directors of listed and unlisted public companies in relation to directors’ duties, the Corporations Act, the ASX Listing Rules, the AIM Rules for Companies and corporate governance. Prior to joining Base Resources, Mr Poletti was at international law firm, Ashurst, where he specialised in both domestic and cross border regulated and unregulated mergers and acquisitions, including takeovers and schemes of arrangement, capital raisings and corporate advisory and governance.


Simon Wall

General Manager, External Affairs (Kwale)

Mr Wall previously worked for the Australian Government’s Department of Foreign Affairs and Trade during which time he was posted to Kenya as a diplomat. He joined the diplomatic corps having graduated with a Master of International Studies at the University of Sydney and having spent time in Sri Lanka working on the post-2004 tsunami recovery.

Having lived in Kenya for over 10 years he has developed an understanding and appreciation of the complex operating environment and the challenges and opportunities it presents. The External Affairs team is responsible for managing relationships with government, ensuring regulatory compliance as well as media and public relations.


Michael Rose

General Manager Operations (Toliara)

Michael is a mining professional with over 27 years of minerals industry experience in a variety of senior operational and management roles. He has worked across multiple materials and jurisdictions including in Australia, UK, South Africa and Senegal.

Most recently Michael was the Chief Operating Officer at Grande Cote Operations for Tizir Ltd in Senegal. There he was responsible for all operations including mine production, MSP production, maintenance and supply chain.

Michael has a BSc Engineering (Mining) from the University of the Witwatersrand and an MBA from the University of the Witwatersrand.



Media and Investor Queries

James Fuller | Manager, Communications and Investor Relations

Phone +61 (8) 9413 7426

Mobile +61 (0) 488 093 763

Email [email protected]


Head Office

Level 1, 50 Kings Park Road,
West Perth, WA, 6005

PO Box 928, West Perth
BC 6872, Australia

Phone +618 9413 7400

Fax +618 9322 8912

Email [email protected]



PO Box 1214,
Ukunda 80400, Kenya

Mobile +254 (0)20 513 0100

Email [email protected]



Fanjava Mahafaly,
Property Monja Jaona Avenue 601,
Toliara Madagascar

Phone +261 20 94 448 87

Email [email protected]



Company Secretary
Chadwick Poletti

Principal Place of Business and Registered Office
Level 1, 50 Kings Park Road
West Perth WA 6005

Contact Details
Website: www.baseresources.com.au
Email: [email protected]
Telephone : + 61 (8) 9413 7400
Facsimile : + 61 (8) 9322 8912

235 St. Georges Terrace

Corporate Advisor & Nomad
RFC Ambrian Limited
QV1 Building 
250 St. Georges Terrace
Telephone +61 8 9480 2500
Fax +61 8 9480 2511

Matthew Armitt/ Detlir Elezi
Phone +44 20 3207 7800

Numeris Securities Limited
John Piror/ James Black/ Paul Gillam